BRAIN FORCE HOLDING AG (Vienna Stock Exchange: BFC, Reuters: BFC.VI), a leading IT services provider with business operations in Austria, Germany, Switzerland, Italy, the Netherlands and the Czech Republic, has sold its 30% stake in KEMP Technologies, Inc., USA, back to the company for USD 500,000 in cash (about EUR 357,000) as at July 3, 2009. At the same time, the convertible bond issued by KEMP has been cancelled. The disposal of the stake in KEMP Technologies has resulted in a book gain of EUR 357,000, registering a recently unexpected cash inflow from this investment.

Due to the business development of KEMP, BRAIN FORCE had to write off the entire value of its equity stake in the company, or EUR 519,000, in 2007. Recently, it became clear that KEMP won`t be able to pay back the convertible bond of USD 900,000 which the previous managing board of BRAIN FORCE had subscribed to, and which would due on June 30, 2009. For this reason, BRAIN FORCE also fully wrote off the entire value of the convertible bond in its 2008 consolidated financial accounts. „As a consequence of the difficult financing situation for KEMP, we worked together with KEMP`s management to develop a solution which would be acceptable to both sides”, says Günter Pridt, Chief Executive Officer of BRAIN FORCE HOLDING AG, explaining details of this transaction. „It was important for us to recover as much cash as possible from this costly U.S. investment. At the same time, we are continuing our strategy of focusing on business areas with growth potential in our core markets. Therefore, the sale of our stake in KEMP was a logical step, and enables us to positively settle yet another burden of the past“, Günter Pridt concludes.