Ad-hoc Press Release from
Intertainment AG
Pursuant to § 15 Securities Trading Act (WpHG)
Intertainment withdraws application to open insolvency proceedings /
Board of Management and Supervisory Board resolve to undertake capital increase with exclusion of pre-emptive rights
Munich, June 29, 2006 - Intertainment AG and INTERTAINMENT Licensing GmbH, both registered in Munich, have today withdrawn their application submitted on January 13, 2006 to open insolvency proceedings.
The withdrawal of the insolvency applications is based on the agreement reached with Albis Finance AG at the end of May 2006 regulating repayment modalities for a claim amounting to some 15 million euros and a capital increase of nearly 10 percent of the current capital stock agreed with the Kinowelt Group, Leipzig, for an issue price of 1.28 euros per share. The new shares will be underwritten by the Kinowelt Group, excluding pre-emptive rights of the existing shareholders. Intertainment will receive approximately 1.5 million euros as a result of the capital increase. A resolution on the capital increase was passed today by the Board of Management and is to be implemented immediately. The issue price of the new shares corresponds to the permissible minimum amount under legislation regulating stocks.
End of the ad-hoc press release
Contact:
Intertainment AG, Investor Relations
Frauenplatz 7, 80331 Munich, Germany
Telephone: +49 (0)89 21699-0
Fax: +49 (0)89 21699-11
Internet: www.intertainment.de
E-Mail: investor@intertainment.de