Press Release

devolo AG with new supervisory board

Aachen, October 2, 2002—The data communications company devolo AG of Aachen, Germany has constituted its supervisory board. On the controlling body of the stock corporation are Georg Wazinski, chairman, Georg Scherberich, and Harald Heidemann.

“This is a further step towards meeting the requirements to successfully address the IT market”, says Heiko Harbers, CEO of devolo AG. Devolo offers DSL and analogue modems along with networking products for home and office users. The company was formed in the spring of this year from employees of the now insolvent Elsa AG and has subsequently focussed on their predecessor’s most successful and profitable products.

After ruthlessly thinning out the product portfolio while strictly maintaining the outstanding product quality, devolo is set to become one of the top brands in the target markets. Harbers, the founder of the still young company, continues: “All three members of the supervisory board are top experts in their fields and I greatly value their advice.”

Chairman of the supervisory board is Georg Wazinski. The 59-year old looks back on 25 years of experience in the semiconductor industry and was, by way of example, Sales Director for central and eastern Europe for the chip manufacturer Rockwell/Conexant. He has been on the supervisory board since devolo’s foundation.

Assisting him are Georg Scherberich, 41, and Harald Heidemann, 47. Georg Scherberich is known to be a knowledgeable expert of the consumer IT field. Formerly a member of the board of directors at Vobis and associate Managing Director of Terratec, Scherberich now makes use of 15 years of experience in top management as a consultant for Convesto GmbH.

The chairman of the S-UBG, the Beteiligungsgesellschaft Regionaler Sparkassen, Harald Heidemann, completes the board of directors. S-UBG invested in devolo from the beginning as Heidemann is positive about the company and its perspectives. “The products are accepted and highly regarded by consumers and the media alike.”

Further information, data sheets and photographs are available from www.devolo.de or personally from the press contact below.
(18.09.02 – devolo/proprietary report.)

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