euro adhoc: Thielert AG / other / Thielert strongly rejects allegations of fraud circulated by Association for Protection of Shareholders (SdK)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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05.10.2006

Hamburg - Thielert AG rejects the allegations of fraud circulated by
the shareholders’ association SdK (Schutzgemeinschaft der
Kapitalanleger e.V.) fully and in the strongest terms and states the
following:

- Thielert AG has informed the public prosecutor in Hamburg of a
criminal offence carried out by an unknown person. The company will
defend itself against these false and damaging allegations with all
means at its disposal.

- The agreement on a working capital loan and the public share
offering are two separate and independent transactions. The company
also worked with different banking partners in these transactions, so
that no conflicts of interests were possible in this regard.

- As is normal in the aviation industry, and particularly in the
defence technology sector, we are involved with very long-term
projects. We therefore record the services carried out in this field
using the percentage of completion method.

- The SdK’s allegation that an individual impairment loss of EUR3.8
million was recognised is false.

- The company balance sheets have not only been approved by the
auditors as part of our annual financial statements, but also
underwent a further stringent review before the publication of the
prospectus issued in the course of our initial public offering. We
also obtained an expert opinion in connection with the aforementioned
working capital loan, which did not reveal anything improper.

- Finally, Thielert AG expresses its astonishment at the behaviour of
the SdK for allowing itself to be used in this way to propagate
unfounded accusations.

end of announcement euro adhoc 05.10.2006 19:43:20
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ots Originaltext: Thielert AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sebastian Wentzler
Head of Corporate Communications
Telefon: +49(0)40/696950-75
E-Mail: ir@thielert.com

Branche: Market research
ISIN: DE0006052079
WKN: 605207
Index: SDAX, CDAX, Prime All Share, Classic All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
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