Rotterdam, December 21, 2004 - The Board will raise the following matters during the Special General Meeting of Shareholders of AND International Publishers NV to be held this afternoon:
Expected results for 2004
AND expects to close 2004 with an operational profit based on virtually unchanged sales figures for traditional activities. No precise figures can be given at this time regarding the exact amount of the results because the period under review has not been concluded yet and the preliminary figures are still subject to an audit.
Joint venture with Siemens VDO Trading GmbH
Earlier this year it was announced that an agreement in principle had been reached with Siemens VDO Trading GmbH on the delivery of data for vehicle navigation in Central and Eastern Europe. This agreement has since been translated into a long-term definitive contract. The region covered by the agreement has also been expanded to include Africa, Central and South America, and Asia. Siemens VDO Trading GmbH plans to place its products with AND data on the market in Q1 2005.
Other agreements
Negotiations are currently underway with several parties regarding the use of AND data for personal and vehicle navigation in the near future. Several of these talks are already in the final stages. Expectations are that more detailed announcements in this regard will be made shortly, and will include several agreements in 2005.
Expected results for 2005
AND believes that the cost-cutting measures implemented in the past have paved the way for structural profitability based on traditional activities. The successful entry into the market for personal and vehicle navigation will contribute to an acceleration of turnover and profit. The scope and timing of these outcomes depends on the speed and success with which these rapidly growing markets are penetrated.
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