July 12, 2006

EQUITA Management GmbH

Investors
EQUITA, the private equity company of the Harald Quandt Group, has sold a 19.7% stake in German sawmill and wood working enterprise Klenk Holz AG via the Klenk family to WestLB AG. The remaining 10% stake was sold to the Klenk Holz AG itself as treasury stock. EQUITA was invested in Klenk Holz AG through its investment fund EQUITA Beteiligungen Fonds 2 KG. The Klenk family shareholders maintain their 70.3% holding.

Company
Klenk Holz AG is Germany’s largest sawing and wood working enterprise with a total production of over 3 million solid cubic meters. Its products comprise sawn timber and a wide variety of refined wood products, e.g. surfaced lumber, pressure treated lumber, construction timber, DIY products, building components, and chipboard pallets. The group’s activities also include forest harvesting services. Production facilities are located in Germany and France.

Previous funding
EQUITA acquired a 25.0% stake in Klenk in November 2000 by providing growth financing and later on increased its shareholding to 29.7%

People
Dr. Michael Hönig led the transaction for EQUITA, supported by Bernd Stahlbock.

Advisers
EQUITA – no external advisers
Klenk family and Klenk Holz AG – Luther Rechtsanwaltsgesellschaft, Stuttgart, Dr. Gerhard K. Balz (Legal);

Contact:

Dr. Klaus Böltz
Telephone: 07977 72-312
klaus.boeltz@klenk.de