New Activities Aimed at Damaging Thielert’s Reputation

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Hamburg (euro adhoc) - Hamburg - Last week, certain persons - who
remain anonymous or using aliases - again distributed documents also
included in the anonymous report of criminal offenses against
Thielert AG. Again, material was distributed to multipliers such as
journalists and analysts. Again, extracts of the anonymous report of
criminal offenses were edited. The goal was again to construe
evidence to show that Thielert allegedly issued fictitious invoices
in 2004. The extent of the libel and defamation was, however, reduced
significantly. Accordingly, the anonymous informers tell e.g. a tale
about the following: Thielert allegedly reported an open receivable
against an aircraft manufacturer, meanwhile being in insolvency, in
an amount of EUR 2.15 million as of December 31, 2004, while said
aircraft manufacturer only reported a payable of EUR 0.25 million.
Somebody interested in the truth would have inquired with Thielert
and the insolvency administrator of the aircraft manufacturer. One
would have ascertained immediately that the aircraft manufacturer had
corrected its book entry. As a consequence of this book entry, the
entire account payable in the amount of EUR 2.15 million was reported
in the books of the aircraft manufacturer in 2005 instead of 2004. In
2005, the entire receivable was paid and accordingly no longer
exists. Until now, the activities against Thielert occurred in three
waves. The first wave at the beginning of October pushed the stock
exchange price down by more than 40% temporarily. The second wave
around the middle of October pushed the stock exchange price down by
about 10%, after it had previously recovered by nearly 28%. The third
wave resulted in a mere loss of approximately 5%, from which the
price is recovering. All waves were preceded by increased large trade
volumes. Thielert AG deliberately refrains from speculating about the
aim pursued by the anonymous informers. The efforts to damage
Thielert are flanked by publications in Internet forums, whose
authors are also anonymous of course and have been active under
fantasy names for only a few weeks. The machinations are becoming
increasingly grotesque in so far as it is alleged that Thielert AG
does not have products at all and merely exists through fictitious
invoices. Thielert engines have been operating in general aviation
and unmanned aerial vehicles for years. Far in excess of 1,500
engines have been built and sold. The use and deployment of Thielert
engines is documented in manifold ways, inter alia, in more than
fifty flight tests by specialized journals, through the documentation
of European, American, and Asian aviation authorities, and in more
than 300,000 cumulative flight hours in clubs, flight training
schools, and by private pilots. Thielert is audited by customers or
administrative bodies on more than 150 days each year regarding its
production, quality, and documentation. It must be emphasized that
Thielert is a traditional industrial enterprise with tangible
products, which finds itself faced with a campaign. Fundamentally
the Thielert AG offers, to answer objectively and complete all
further questions concerning the receivables of the year 2004 - and
only those ones are affected by the anonymous allegations - because
it is always the same accusations being launched to further media and
market participants.

end of announcement euro adhoc 13.11.2006 09:25:56
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ots Originaltext: Thielert AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sebastian Wentzler
Head of Corporate Communication
Telefon: +49(0)40/696950-35
E-Mail: press@thielert.com

Branche: Market research
ISIN: DE0006052079
WKN: 605207
Index: SDAX, CDAX, Prime All Share, Classic All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade