7 layers - Information - News Summary 1999 12 23

News Summary 1999

23 December 1999
ESOP - Employee Stock Option Plan:
The 7 layers employee stock option plan for the years 2000 - 2004

During the shareholders' meeting on 6^th July 1999 an employee stock option plan had been decided upon. On 22nd December 1999 the supervisory board agreed to the stock option plan presented by the board of Directors.

According to this plan, the board of Directors can increase the capital of the 7 layers AG till 30 June 2004 by issuing new shares either via deposit or investment in kind. Newly issued shares will only be available for employees of 7 layers. The volume of these shares will amount to a maximum of 20% of the total volume of 7 layers shares.

The employee stock option plan is valid for the years 2000 - 2004. A further plan might be developed in case the volume of the current plan expires.

Target of the introduction of stock options is, to provide an additional, long term source of income to our employees. Another important aspect is to adapt income terms and conditions of 7 layers to international practice. Taking into account our global activities stock options will be a further impulse to internationally oriented, highly qualified employees to take part in the 7 layers enterprise.

Taking part in the performance and - after stock market listing - the appreciation of the 7 layers share will lead to an even stronger identification with the development of 7 layers and the goals of capital ownership. This is an important prerequisite for future expansion, long term investment and security of employment.