Dear Shareholders,
In a declaration issued on September 26, 2002, the German stock exchange in Frankfurt announced the formation of a new segment in the stock market, which will be presented in November 2002 to the Exchange Council and the Working Committee on Stock Indices, as the panels responsible for its resolution. The reorganization embraces the objectives of high transparency and timely disclosure by individual corporations established for all market participants.
SINGULUS TECHNOLOGIES is also affected by this reorganization and has long been a proponent of increased transparency as well as accurate and timely corporate disclosure, which it has vehemently and emphatically expressed in public. The Managing Board therefore welcomes the long overdue reforms in the German stock market, specifically in the Neuer Markt, and fully endorses these measures.
The Managing Board will promptly apply for its inclusion in the „Prime Standard“, within a „Technology“ sector. After conferring with the German Stock Exchange in Frankfurt, it is presumed that our petitions will be granted in their entirety. Since its listing on the stock exchange in November 1997, our company has not only fully complied with, but in many respects, clearly exceeded, all currently defined „Prime Standard“ transparency requirements. As a result, the business journal CAPITAL recently conferred on SINGULUS TECHNOLOGIES a second place award in the Neuer Markt segment for exemplary activity in investor relations. Actively discussed for some time, the Managing Board took a positive stand on improved corporate governance during the last General Shareholders’ Meeting in May 2002, declaring that it would acknowledge and adhere to the guidelines recorded in submitted drafts. We would therefore welcome the voluntarily implementation of self-governance by all future „Prime Standard“ companies.
Following the institution of this new market segment and inclusion of SINGULUS TECHNOLOGIES AG in the „Prime Standard“, the Managing Board anticipates a rapid restoration of confidence in the German financial markets and renewed widespread investment in SINGULUS stock by international investors. The stock price and all current shareholders should experience above average gains in both in the short-term and the sustained midterm as a result of these measures.
Sincerely yours,
SINGULUS TECHNOLOGIES AG
Management Board