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BNP Paribas launches the squeeze-out procedure on Consors Discount Broker AG

Consors Discount-Broker AG shareholders are invited to an extraordinary general meeting on Thursday, 14th November 2002 in Nürnberg

On the agenda will be the transfer of the remaining 4.95% equity interest held by minority shareholders to the majority shareholder BNP Paribas, S.A.. The price of 11.75 euros per share has been calculated after a detailed evaluation of Consors Discount-Broker AG and in accordance with the German Auditors Standards.

BNP Paribas acquired SchmidtBank's 66.4% equity interest in Consors in May 2002. A public offer was made between 12th June and 2nd August after which BNP Paribas currently holds a 95.05% equity interest in Consors. The full acquisition of Consors by BNP Paribas will now faciliate the integration of Cortal and Consors. Together the two direct banks have more than 1,2 million customers and are now the leading European broker in personal investments.