Provisional earnings before tax increased by 54%

Gräfelfing/Munich, July 18, 2000. The Munich stockbroking company has increased its half year result considerably compared to last year. Trading and commission earnings were increased by 48% to DM 40.6 million and provisional half-year profits by 41% to DM 14 million. Provisional earnings before tax were at DM 28.6 million, equivalent to an increase of 54%. MWB thus is optimistic, for a substantial improvement in sales revenue and profits for the entire year 2000. Currently market making around 1,850 foreign securities, the company expects to increase this figure to around 2000. The number of employees is expected to be increased to 45 by the end of the year.

Board spokesman Thomas Posovatz, already happy with the 1999 figures, is more than satisfied with the clear increases of this year. The MWB achieved this result due to the high increase in turnover, the greater volatility of foreign markets and the significant increase in securities sponsored. "We are only disapointed about the price of our share," says Posovatz, "we regret that we are still not systematically covered by analysts and identified as a wise long term investment."

MWB AG has been listed on the SMAX in April 1999. It is a leading specialist and market maker in foreign securities. MWB has memberships on the Munich, Berlin, Frankfurt, Düsseldorf and Stuttgart stock exchanges. With its wholly owned subsidiary MWB Wertpapierhandelsbank, it is also active in the IPO and asset management.