Press Release

devolo AG secures financingCapital deepening paves the way for growth

Aachen, July 19, 2002—the management buy-out from the ELSA AG that was initiated by devolo AG’s CEO and top managers was buoyed by an investment from the S-UBG AG (Unternehmensbeteiligungsgesellschaft regionaler Sparkassen, Aachen). The S-UBG is making further capital available so that the growth of the devolo AG can continue. Harald Heidemann, Director of the S-UBG, comments on the investment in the devolo AG: “Talks with the management persuaded us that the company has an outstanding opportunity. The products enjoy a high degree of acceptance both among customers and in the media.”

The product range on offer is based on the successful ELSA products and will be successively expanded. “Quality and security of investment are higher than with competing products. This is where we see our strengths”, says Heiko Harbers, CEO of devolo AG. Already in high demand is the industrial modem MicroLink 56k i. Immediately available are the successful products MicroLink 56k Fun II and the networking products of the MicroLink LAN series. The devolo products are outstanding for their functionality, performance, extendibility and the good price-performance ratio. Based on the feedback received to date, devolo expects that consumers will accept the tried-and-trusted communications products and will value the high quality levels.

Ready to be launched are wireless networking products with WLAN technology, ADSL modems and ADSL routers. The products result from devolo’s clear strategy: develop new technologies and make them accessible to the consumer. Here, too, the products demonstrate easy installation and operation. This is aided by excellent documentation and qualified support. “Specialist resellers can immediately order the devolo product range from Ingram Macrotron, Actebis, Wortmann, API, Asendis (Switzerland) and Darius (Austria). This makes us confident that consumers will find out products nationwide very soon”, says Heiko Harbers.

devolo AG was founded in May 2002 by former employees of the now insolvent Elsa AG in Aachen, Germany. devolo has taken over the know-how from the Elsa AG along with the brand names and product rights for “MicroLink” and “Vianect”. 20 years of experience in developing data communications solutions is the basis for a broad spectrum of high-quality products. The current range includes analog modems, DSL modems and networking products for private consumers and professional users. The several years of experience that our employees possess enables even a young company like devolo AG to assure the quality of its products right from the start. The in-house research and development team ensures a constant flow of innovations and the fast reaction to demands arising from the market.

Christoph Rösseler
Sonnenweg 11
52070 Aachen
Germany
Tel: +49(0)241-18279-64
Fax: +49(0)241-18279-99
E-Mail: presse@devolo.de