Heliad: Financial report published for first quarter of 2008

Heliad Equity Partners GmbH & Co. KGaA / Quarter Results
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++ Financial report published for first quarter of 2008 ++ As expected, earnings negative due to developments on capital markets ++ At Euro 1.21 per share, intrinsic value (NAV) substantially higher than    share price at 30 April

The publicly listed investment company Heliad concluded the first three months of 2008 (31 March) with negative earnings of Euro 8.3 million. This is equivalent to the decline in the company’s intrinsic value (NAV) in the first quarter already announced in April. This earnings performance was due to the weakness of the capital markets, which led the share prices of the publicly listed shareholdings to decline and resulted in corresponding write-downs.

At Euro 85.6 million, the equity as reported in the balance sheet was significantly higher than the company’s market capitalisation at the reporting date (Euro 51.1 million).

One factor positively affecting earnings in the first quarter was the sale of the shareholding in blau Mobilfunk GmbH, on which Heliad was able to increase the capital committed by a factor of more than 2½ over an investment period of just 21 months.

The sale of almost 50% of the investment portfolio to funds managed by the British financial investor Greenpark Capital at a premium to NAV will only benefit the company’s value in the second quarter, as the agreement was concluded on 3 April and thus after the reporting date. Based on the final closing implemented on 9 May, this transaction amounts to Euro 45.4 million in total. The parties agreed to include one shareholding fewer in the sale than originally planned.

In parallel with the final closing of the Greenpark transaction, Heliad received the contractually agreed first tranche of the purchase price, amounting to Euro 28.6 million. The remainder is expected to be paid in gradual instalments over the next 18 months.

Following this profitable transaction, Heliad will on the one hand retain a prorated shareholding in the current attractive portfolio companies and will thus continue to participate in their further performance. On the other hand, following the receipt of the first tranche of the purchase price already and the repayment of the acquisition line drawn on in the previous months, Heliad is now free of bank debt and also has sufficient additional free liquidity at its disposal.

At Euro 1.21 per share, Heliad’s NAV as of 30 April 2008 was significantly higher than the share price of Euro 0.89. The share price therefore includes a discount of 26% on the intrinsic value. Compared to the share price at Euro 0.77 Euro as of 30 May 2008, the discount even amounts to 36%.

The complete quarterly report can be downloaded from the internet at: http://www.heliad.de/de/investorrelations/finanzberichte
++ About Heliad

Heliad is a publicly listed investment company which invests in high-growth companies in German-speaking countries. Heliad relies in this respect on established, owner-managed business models with sales of between EUR 10 million and EUR 100 million. This investment focus means that Heliad is positioned in the attractive niche between venture capital and large-scale buyouts.

With a total of around 4,000 employees, the 13 companies currently in Heliad’s portfolio generated combined sales of more than EUR 650 million.
Further information about the company can be found at www.heliad.de.

Heliad Equity Partners GmbH & Co. KGaA
Alexander Mitsch
Chief Financial Officer
Tel.: +49 (0) 69 71 91 59 65 28
E-Mail: alexander.mitsch@heliad.de

03.06.2008  Financial News transmitted by DGAP

Language:     English
Issuer: Heliad Equity Partners GmbH & Co. KGaA               Grüneburgweg 18
              60322 Frankfurt am Main
Phone:        +49 (0)69 719 15 965 0
Fax:          +49(0)69 719 15 965 11
E-mail:       info@heliad.de
Internet:     www.heliad.de
ISIN:         DE0006047293
WKN:          604729
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr               in Berlin, München, Stuttgart
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