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AdAstra Management-Buy-Out


Munich, 04 March 2005 -- With effect from December 31, 2004, the two AdAstra-fund managers Ulrich Clemm (43) and Thomas Krueger (41) have purchased HypoVereinsbank´s (www.hvbgroup.com) holding in the Munich-based venture capital fund AdAstra Erste Beteiligungs GmbH ('AdAstra'). Both have so far already held a stake in AdAstra. The transaction came about as a result of HypoVereinsbank´s increasing concentration on its core business within its Corporates & Markets division.

'The management buy-out will have no effect on AdAstra's operative business since financing of our portfolio companies will continue to be assured after this transaction,' both fund managers emphasized.

So far AdAstra has invested over €40 million in European and American technology companies. AdAstra became known to a broader public through the investment and the successful sale of its holding in SuSE Linux AG to Novell Inc., one of the biggest European venture capital exits of recent years. AdAstra thus posted a performance in the upper quartile of vintage year 2000 venture capital companies.

Following the correction on technology markets, fund managers Clemm and Krueger see interesting opportunities for technology investments and are currently preparing to launch a new successor fund which is aiming at a volume of €175 million. HVB Group intends to participate in this new fund as an investor. Initial preparations have already begun.

AdAstra currently has an interest in the following companies, among others:

· Ask S.A., Sophia Antipolis, www.ask.fr
· Asknet AG, Karlsruhe, www.asknet.de
· Asyntis GmbH, Putzbrunn, www.asyntis.com
· Bäurer GmbH, Donaueschingen, www.baeurer.de
· Gomez Inc., Waltham, www.gomez.com
· Trados Inc., Sunnyvale, www.trados.com


About AdAstra:
AdAstra is a Munich-based independent Private Equity firm, founded in June 2000, targeting later stage high-growth and technology-oriented companies in IT, telecommunication and high-tech industries. As a sparring partner to its portfolio companies, AdAstra provides permanent support through its experienced and interdisciplinary management team and its contact network.
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Publisher Contact Information:

AdAstra
+49 (0)89 20 80 22 80
uc@adastra.de

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