MAXDATA filed for insolvency proceedings

The Management Board has decided on this step because pending illiquidity puts continued business operations at risk. MAXDATA further applied to have insolvency proceedings opened for the subsidiaries in Germany and abroad, the sales companies in Switzerland (MAXDATA Computer, Baar) and in the Netherlands (MAXDATA Benelux) excepted. The high pressure of the competition and the immense fall in prices have affected MAXDATA for some years. In consequence, the company has suffered a heavy decline in turnover und results. In spite of a restructuring program launched in 2006 the turnaround could neither be achieved in the 2007 business year nor in the first half of 2008. The Management Board now aims at continuing business with the support of the insolvency administrator, securing as many jobs as possible and retaining the two brands MAXDATA and Belinea.