EANS-News: D+S europe AG / Publication in accordance with Sect. 37 q Para. 2 Sentence 1 Securities Trading Act (WpHG)

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Hamburg (euro adhoc) - The Deutsche Prüfstelle für Rechnungslegung
e.V. (German Financial Reporting Enforcement Panel, DPR) asserted
that the annual balance sheet, the consolidated financial statements
as well as the group management report of D+S europe AG, Hamburg, as
of December 31, 2007, were incorrect.

Consolidated financial statements 1. In the consolidated
financial statements of D+S europe AG as of December 31, 2007 the
capital reserves and the tax expenditure were reported in the amount
of EUR 4.035 million too high and, thus, the annual group profit in
the amount of EUR 4.035 million too low. The company recorded the
effect from the reduction of the corporate tax reform in 2008 on
deferred taxes on the liabilities side stemming from the acquisition
of the Heycom in the shareholders` equity instead of the profit and
loss account (IAS 12.47, 12.58, 12.60). 2. In the consolidated
financial statements and in the group management report of D+S europe
AG as of December 31, 2007 proceeds from stock option transactions in
the amount of EUR 3.0 million were not commented sufficiently (Sect.
315 Para 1 Sentence 1 HGB, Sect. 342 Para 2 HGB, DRS 15 Tz 50 f., IAS
1.86). D+S europe AG and subsidiary Heycom GmbH sold with contracts
as of December 19, 2007 call options on shares held in the portfolios
to Silvertec GmbH, Munich, whose shareholder and executive director
is a former member of the Supervisory Board of D+S europe AG. The
options had a term of validity until January 15, 2010. On December
27, 2007 Silvertec as the options´ buyer waived irrevocably the
exercise of the acquired options and, therefore, the option premium
of EUR 3.0 million was collected with effect on the income statement.
The group´s earnings before taxes increased due to that occurrence by
EUR 3.0 million to EUR 25.3 million. It was not cognizable through
the statement in the group management report and in the notes on the
consolidated accounts that those proceeds stemmed from an occurrence
which was to a great extent unusual.

Annual balance sheet In the annual balance sheet of D+S europe AG as
of December 31, 2007 proceeds from option premiums in the amount of
EUR 1.2 million were not recorded as extraordinary income and were
not commented sufficiently in the notes (Sect. 277 Para 4 HGB). The
company sold with contract as of December 19, 2007 a call option on
shares held in the portfolio to Silvertec GmbH, Munich, whose
shareholder and executive director is a former member of the
Supervisory Board of D+S europe AG. The option had a term of validity
until January 15, 2010. On December 27, 2007 Silvertec as the
option´s buyer waived irrevocably the exercise of the acquired option
and, therefore, the option premium of EUR 1.2 million was collected
with effect on the income statement. The result of common business
operations of D+S europe AG increased due to that occurrence by EUR
1.2 million to EUR 12.6 million.

end of announcement euro adhoc
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ots Originaltext: D+S europe AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations

Tel.: +49 (0)40 4114-3338

E-Mail: investor-relations@dseurope.ag

Branche: Advertising
ISIN: DE0005336804
WKN: 533680
Index: CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade