The Management Board of BRAIN FORCE HOLDING AG (company) was notified today by BF Informationstechnologie-Beteiligungsgesellschaft m.b.H. (bidder) that the first phase (term for acceptance) of the public tender offer pursuant to § 22 a in connection with § 22 Austrian Takeover Act, which the bidder had made to the shareholders of the company, had expired on April 17, 2008. Within the four-week acceptance period, the public tender offer was accepted for a total of 437,821 shares, which represents 2.85% of the company’s share capital.

 

Before the public tender offer was submitted, the bidder had owned a total of 3,742,000 shares in the company, which represented about 24.3% of the share capital of the company, and together with a separate voting rights agreement, the bidder holds a total of 30.0022% of the voting rights in the company.

 

On March 26, 2008 (parallel acquisition of shares), the bidder acquired 201,640 shares (about 1.3%) of the company.

 

Accordingly, the bidder currently owns 4,381,461 shares, which corresponds to a stake of 28.4756% in the share capital of the company. Together with the voting rights attained through a separate agreement, the bidder currently has 34.16% of the voting rights.

 

Pursuant to § 19 (3) Austrian Takeover Act, the acceptance period will be extended for all those shareholders who have not yet accepted the offer by a period of three months starting with the publication of the preliminary results of the takeover bid, thus until July 22, 2008.