mwb Wertpapierhandelsbank AG / Quarter Results


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Gräfelfing/Munich, April 24, 2008. Business at the Munich-based mwb
Wertpapierhandelsbank AG was not left unscathed by the current situation on
the financial markets. A significant decline in turnover triggered by the
mounting uncertainty of investors, one-off costs occasioned by the
FAIRTRADE transaction, and an increased provisioning for risks led to a
negative result in the first quarter of 2008. Earnings from ordinary
activities dropped from EUR 1,109 thousand in the first quarter of 2007 to
EUR -255 thousand in the same period of 2008 (-123%). Consolidated net
income for the quarter decreased from EUR 1,044 thousand to EUR -211
thousand (-120%).

The extreme restraint by private investors in February and increasingly so
in March led to a perceptible decrease in commission income and trading
profits. Net commission income dropped from EUR 996 thousand to EUR 812
thousand (-18%), while trading profits sank from EUR 2,253 thousand in the
first quarter of 2007 to EUR 1,156 thousand (-49%) due to the significant
decline in trading opportunities. Already comprised in this are the effects
occasioned by the marking to market of securities held for trading in
accordance with IFRS in the amount of EUR 168 thousand.

General administrative expenses remained stable in the first quarter of
2008 at EUR 2,322 thousand compared to the same period of the year before
(previous year: EUR 2,293 thousand). Personnel expenses thereby decreased
from EUR 818 thousand to EUR 739 thousand (-10%) in the first quarter of
2008 due to the absence of performance-related components. Employee numbers
totalled 35 on March 31, 2008 following 33 at the close of the same quarter
in the preceding year. Other administrative expenses rose only slightly
from EUR 1,474 thousand in the first quarter of 2007 to EUR 1,583 thousand
in the same quarter of 2008 (+7%). This is even more satisfying considering
that the figure contains the one-off exposure in conjunction with the
merger with FAIRTRADE FINANCE AG and the costs of required IT investments
amounting to EUR 80 thousand altogether.

Compared to the close of 2007, mwb’s equity fell only marginally from EUR
17,542 thousand to EUR 17,125 thousand as per the end of the first quarter
of 2008. The company’s liquidity situation is as stable as ever. The
balance of receivables from and liabilities to banks increased through the
sale of securities from EUR 7,094 thousand as of December 31, 2007 to EUR
7,564 thousand at the end of the first quarter of 2008 (+EUR 470 thousand).

mwb Wertpapierhandelsbank AG
Thomas Posovatz 
Rottenbucher Straße 28
82166 Gräfelfing
Tel.: 089/85 85 2-500
Fax: 089/85 85 2-505 

DGAP 24.04.2008 
Language:     English
Issuer:       mwb Wertpapierhandelsbank AG
              Rottenbucher Straße 28
              82166 Gräfelfing
Phone:        +49 (0)89 858 52-305
Fax:          +49 (0)89 858 52-5 05
ISIN:         DE0006656101
WKN:          665610
Listed:       Regulierter Markt in Berlin, Frankfurt (Prime Standard),
              München; Freiverkehr in Düsseldorf, Hamburg, Stuttgart
End of News                                     DGAP News-Service