Earnings up, total revenues in excess of EUR 75 million in 2002

New group to be known as OHB Technology AG

Bremen, March 20, 2002. OHB Teledata AG will be acquiring its sister company OHB System AG via a non-cash capital contribution financed by the issue of new shares on a one-for-one basis. To be known as OHB Technology AG, the new company will operate as a holding company and sole shareholder of a new OHB Teledata and OHB System. The established brands will be continued.

OHB Technology projects total revenues of over € 75 million in 2002. Its current large-scale orders from the public sector among others (currently worth over € 300 million) ensure a high degree of planning reliability. Following the merger, OHB Technology expects its high rate of growth to continue. Adjusted IAS earnings are projected as coming to approx. € 3.5 million in 2002 and approx. € 7.4 million in 2003. In addition to ensuring heightened transparency, the acquisition of OHB System AG will boost earnings.

Incorporated in 1982, OHB System AG has extensive experience in the development, launch and operation of small satellites for communications, observation of the earth and research. The company is project manager in the SAR-Lupe satellite reconnaissance program.  Further key projects concern the development and use of the ISS international space station. As well as this, security and reconnaissance technologies and equipment are being developed for the German armed forces. A total of 80 different projects are currently being worked on. Germany’s first listed aerospace and technology group is being established in conjunction with the interest in satellite network operator Orbcomm LLC Washington, USA for global mobile data communications.

The new OHB Technology AG already has sufficient orders on its books to generate more than two thirds of the revenues forecast for the next four years. The new group covers the entire value chain from the development, construction and operation of satellites to data transmission and processing.

Details of the merger will be announced on Friday, March 22, 2002 at the Company’s annual press conference and the DVFA presentation.