DGAP-Adhoc: Mania Technologie AG ('Company'): The Company files for insolvency

MANIA Technologie AG / Insolvency

28.04.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Weilrod, 28 April 2008

The management board of the Company will file today for insolvency
proceedings with the competent local court of Bad Homburg v.d.H. due to
over-indebtedness.

After intensive internal as well as expert examination the management board
of the Company assumes that the Company is over-indebted in the meaning of
Insolvency Law.

The insolvency filing of the Company has no direct or indirect impact on
the German and foreign operating subsidiaries of the Company. At present,
the Company is preparing an insolvency plan together with all participants
which aims for the restructuring of the whole Mania group.

Due to the filing for insolvency the calling of the extraordinary
shareholders’ meeting regarding the loss of half of the registered share
capital as mentioned in the ad-hoc-announcement as of 18 April 2008 is not
required any more and therefore the management board will not make that
calling.

End of ad hoc announcement 

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Information and Explaination of the Issuer to this News:

Expanation
Since the beginning of the year 2007 the considerable price pressure
resulting from the weak demand and the continuing decline of the US dollar
have had a negative impact on the operating activities of the Mania Group
and the holding company, Mania Technologie AG. The measures immediately
initiated by the Management to reduce product costs, in particular by
reworking the product design and the transfer of assembly and procurement
to China, bore first fruits. However these not yet completed measures were
not able to compensate the loss in turnover and margin from the price
decline and the constant devaluation of the US dollar quickly enough. On
the other hand, the Business Division Outsourcing was able to assert itself
in a market which has been weak recently and continues to provide clearly
positive results.

As a result of the latest developments of the operative business activities
in the Business Division Production Systems and the bad profit situation
arising therefrom, the Management Board of Mania Technologie AG has
established that although the Company is currently financially solvent it
is over-indebted in the sense of insolvency law. The Management Board will
today therefore file for insolvency. The Management Board prepares with all
participants a corresponding insolvency plan, in order to enable the
further restructuring of Mania Technologie AG under the protection of
insolvency law.

The world-wide operating subsidiaries are not affected by Mania Technologie
AG’s file for insolvency. The operating companies will consequently not
file for insolvency and at the present time there is no apparent reason for
them to do so in the future. The individual subsidiaries will continue to
operate in full. The planning process regarding the assets of Mania
Technologie AG has no influence on these business activities.


For further information please contact

Wassula Zapris
Investor Relations
Tel.: +49 (0)6083-280 178
Fax: +49 (0)6083-280 505 
Email: Investorrelations@maniagroup.com
www.maniagroup.com

Mania Technologie Aktiengesellschaft
Technologiepark
D-61276 Weilrod-Riedelbach

ISIN: DE0006620701
WKN: 662070
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin, Stuttgart, München, Hamburg, Düsseldorf



DGAP 28.04.2008 
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Language:     English
Issuer:       MANIA Technologie AG
              Technologiepark
              61276 Weilrod
              Deutschland
Phone:        +49 (0)6083 280 178
Fax:          +49 (0)6083 280 505
E-mail:       investorrelations@maniagroup.com
Internet:     www.maniagroup.com
ISIN:         DE0006620701
WKN:          662070
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News                                     DGAP News-Service
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