Deutsche Börse Sells Entory To Softlab - Transaction To Be Completed In Fall 2005

Deutsche Börse AG is set to sell its Group company entory AG, including Silverstroke AG, projects IT-Projektbörse GmbH, entory Ltd. and entory S.A. to Softlab GmbH pending anti-trust approval. Softlab is a company of BMW Group. As part of the transaction, softlab will acquire 100 percent of the shares in entory. The parties have agreed to keep the price of the sale confidential; it is higher than the book value of the investment as of December 31, 2004. The transaction is scheduled for completion in fall 2005.

“With the sale of entory, we are increasing our focus on business with products and services along the capital market infrastructure supply chain,” said Mathias Hlubek, Chief Financial Officer of Deutsche Börse. “Our integrated business model is the basis for the Group’s great success. There are no plans to divest other Group companies.”

Deutsche Börse acquired entory AG at the end of 2001. Following the repositioning and diversification of the company due to a modification of investment activities by banks and brokerage firms in the area of trading and post-trading, entory’s primary business activities and clients now no longer fit within Deutsche Börse’s core business. At the same time, the repositioning of entory has made the company attractive to strategic partners, according to Hlubek.