AgfaPhoto Holding owns 100% of AgfaPhoto GmbH, Leverkusen, the main operating entity of the group.

Key Facts:
• Turnover 2003 (then Consumer Imaging business group of Agfa-Gevaert Group): 870 million Euro
• Total Assets: about 700 million Euro
• Equity ratio: above 40%
• Employees: about 2,900 (worldwide)
• Subsidiaries: in more than 30 countries

AgfaPhoto started its business operations on 2nd November, 2004. It emerged from the former Consumer Imaging (CI) division of the Agfa-Gevaert group, Mortsel/Belgium. The new shareholder group includes the management (with in total 25% of all shares) and the investment companies Abrams Capital, LLC and Highfields Capital Management, LP, both located in Boston/US (with 10% each).

AgfaPhoto’s products and market position

The group concentrates on business-to-business activities in the areas of
lab equipment, photographic papers and photo-chemicals for the production of photo prints. AgfaPhoto develops, produces and markets digital minilabs for decentralized production of prints in photo stores; it also provides digital high- performance systems for the wholesale finishing industry. Both minilabs and wholesale finishing systems process images which are either captured by digital or analog means. Peripheral systems include: self-service terminals for digital orders, generally connected with a minilab and/or a printer, as well as internet services, which – amongst other features - allow remote orders from home PCs. Furthermore AgfaPhoto develops, produces and distributes films and sells memory systems for digital cameras to end consumers. With films showing strong decline this segment shrank to below 25 percent of total sales.

AgfaPhoto is world market leader in wholesale finishing systems and private label films. This spring the trade media organization TIPA elected the d-lab1 as "Best Digital Minilab 2004 -2005". AgfaPhoto is among the world’s four largest suppliers in all the major business areas it is active in.

Further information: www.agfaphoto.com.

2. RES renergys AG, Zug. Shareholding of NannO: 34.07%

RES renergys AG holds amongst others the following two participations:

• 82% in renergys GmbH, Ladenburg, which develops, finances, constructs and operates wind farms in Europe and South America
• 100% in Beteiligungsgesellschaft Wind-Brandenburg GmbH, which owns one of the biggest wind farms in Germany (Dahme, 73.5 MW)

At the end of 2003, the assets were purchased by ABB, which still holds 18% in renergys GmbH. The transaction value was in excess of € 90 million.

RES renergys AG is managed by the majority shareholder, Gi Ventures AG, Munich