ATU Auto-Teile Unger - Update to Holders

Thu Feb 14, 2008 6:51am EST

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RNS Number:0121O
ATU Auto-Teile Unger InvestmentGMBH
14 February 2008


Update to all holders of the Floating Rate Notes 2014 issued by A.T.U
Auto-Teile-Unger Investment GmbH & Co. KG

Weiden, 13 February 2008. On January 10 2008 A.T.U updated its High Yield Bond
Holders regarding the latest developments in the company. The following
statement provides a further update:

  • The work being undertaken by our consultants and advisers is continuing
    according to the timetable we set out in the January call. We continue to
    expect to complete our work on the business plan and capital structure
    during February.

  • Our majority shareholder has informed the company of its intention to
    support the new business plan with proposals for a substantial injection of
    additional equity capital. The quantum and form of this equity, and its
    implications for our capital structure, will be determined over the course
    of the next month.

  • December performance is down against budget as indicated in the January
    call. The Lenders have been informed by the company about a breach of one
    out of the four financial covenants in the Senior Facilities (leverage
    covenant, i.e. net debt to EBITDA test), based on the provisional 2007
    financial result. This breach has no consequences under the Bond Indenture.

This release and may contain predictions concerning the future. Such statements
are based on certain assumptions made by the Management and are subject to a
number of factors and uncertainties, so that the actual future results may vary
considerably from the forecasts made. For example, these factors and
uncertainties may relate to the economic and political developments taking place
in Germany and internationally, the prevailing market conditions, the legal
framework pertaining to the automotive after sales market, the fierce
competition in our markets, the success of our expansion strategy, the
successful integration of any potential acquisitions within the group and our
ability to service our debts.

Many of the factors and uncertainties are beyond our control. We accept no
responsibility for correcting or updating any predictive statements concerning
the future at a later stage.

The information we supply is valid on its date of publication. We take no
responsibility for supplementing, amending, correcting or updating such
information in the event of a subsequent change in our assumptions or

The statements shall not be deemed to enshrine any offer to sell securities or a
solicitation of such.


A.T.U Auto-Teile-Unger Investment GmbH & Co. KG

- Finance and Investor Relations -

Dr.-Kilian-Str. 11

D- 92637 Weiden i.d.Opf.

Phone: +49-961-306-5644

Fax: +49-961-306-934 5644


This announcement has been issued through the Companies Announcement Service of

                           The Irish Stock Exchange.

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            The company news service from the London Stock Exchange

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