Press release 22.12.2005

GFKL Financial Services AG takes over ADA-HAS Group

Essen, December 22, 2005. GFKL Financial Services AG today signed an agreement with ERGO Versicherungsgruppe AG and the SIGNAL IDUNA Group concerning the takeover of the ADA-HAS Group. Within the Willich-based holding ADA-HAS IT Management AG the subsidiaries ADA - Das SystemHaus GmbH, Willich, and has program service, Hamburg, are consolidated. The merger has still to be approved by the boards and the antitrust authorities.

With this takeover, GFKL’s own competence in the financing and realization of IT systems will be supplemented by ADA-HAS’ experience in the trade, installation and maintenance of such systems. The company’s primary aim is the introduction of use-dependent price models in IT leasing. Use-dependent price models enable companies – especially large corporate clients – to improve transparency when calculating and planning IT costs. As before, one focal point will be the German insurance sector, where ADA-HAS is already the leading IT service provider with a market share of approximately 40 percent.

The companies ADA and HAS will be consolidated within the GFKL holding as independent subsidiaries with their own market presence.

About GFKL Financial Services AG

GFKL Financial Services AG, Essen, was founded in 1992 as a leasing company, and in recent years has developed to become one of Germany’s leading specialist providers in the leasing and financial outsourcing sectors. The core competences of GFKL include not only the financing of investment goods, but also the provision of software and services for the receivables management of banks and insurance companies. GFKL Group expects to post consolidated revenues of more than 600 million EUR in 2005; this figure is expected to increase by 30 percent (not including ADA-HAS) in 2006. The company currently employs around 770 personnel.

About the ADA-HAS Group

The ADA-HAS Group is one of Germany’s leading IT service providers. The companies consolidated include the subsidiaries ADA – Das SystemHaus GmbH, Willich, which specializes in IT services, and has program service GmbH, Hamburg, a software and consulting company. In the previous business year 2004/2005, the Group’s revenues amounted to 182.4 million EUR. With approximately 150,000 supported IT user units and a market share of 40 percent, the company is market leader in the German insurance sector. The ADA-HAS Group currently employs around 1,200 personnel.

Media Contact:

GFKL Financial Services AG
Corporate Communications
Sven Kamerar
Limbecker Platz 1
D-45127 Essen

Phone: +49 (0201) 102-1192
E-Mail:pr(at)gfkl.com