Hamburg, 28 January 2003. The wine trading group Hawesko Holding AG (HAWG.F, HAW GR, DE0006042708) maintained firm trading in fiscal year 2002 with a sales increase of just over 1% to Euro 267 million. According to preliminary calculations of the Group, the result from operations (EBIT) declined to between Euro 13 million and Euro 14 million (previous year: Euro 17 million). However, due to the foreseeably positive development of individual components in working capital, free cash flow (cash flow from current operations minus capital spending) is expected to be clearly positive. Based on this, management currently considers a dividend of about Euro 1.00 per share to be possible (previous year: Euro 1.15). The final figures and the audited year-end accounts will be published at the balance sheet press conference on 29 April 2003.

CEO Alexander Margaritoff: "2002 was the most difficult year in German retailing and wholesaling in the last 50 years. But, given the sluggish consumer climate, Hawesko has done quite well."

Total annual sales for 2002 were distributed among the business segments as follows: mail order/e-commerce Euro 103 million (-3.9%), specialist retail (Jacques' Wein-Depot) Euro 90 million (+6.9%), wholesale Euro 74 million (+1.7%). Both the mail-order/e-commerce and the specialist retail segments registered higher customer activity in 2002 against 2001. Margaritoff: "The current economy has not reduced our customer base. On the contrary: interest in our offer of fine wines has grown."

In the fourth quarter of 2002, Group sales rose by 2% over the comparable period of the previous year (Euro 94 million) to Euro 96 million. The Group's result from operations (EBIT) in the quarter under review was Euro 8 million (Euro 11 million). Sales of the mail order/e-commerce segment remained stable compared to the same quarter in the previous year; lower pre-Christmas gift sales were compensated by increased sales of Bordeaux wines (particularly through the Group's subsidiary Château Classic - Le Monde des Grands Bordeaux). The specialist retail segment (Jacques' Wein-Depot) posted sales growth of 5%, achieving Euro 30 million (Euro 29 million). At 31 December 2002, there were 244 depots in total, up from 217 one year ago; three more had been leased (previous year: seven) by the end of the year. The wholesale segment was able to increase its sales by 5% to Euro 25 million during this period.

In the current 2003 fiscal year, the Hawesko management board is focusing on higher profitability, increasing the Group's market share, and better returns on capital. Impulses for growth are expected primarily from the planned 15 to 20 new openings at Jacques' Wein-Depot and from boosting sales in the existing depots. The Group is working to increase its profitability, particularly in the mail order/e-commerce segment, by achieving even better response rates and further streamlining its business processes. Further optimization of working capital should increase the return on capital. Overall, management expects an increase in Group sales of 5% for 2003 - to about Euro 280 million - with a proportionally greater increase in profits.

Margaritoff on the outlook: "Our course is set: We can gain market share even in a difficult consumer environment. And we are especially intent on making more progress on profitability. "

Hawesko Holding AG is Germany's leading seller of premium wines and champagnes. Through its three distribution channels - mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), stationary specialist retail (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) - the Group achieved sales of Euro 267 million in fiscal year 2002. The Group employs 500 people. Shares of Hawesko Holding AG are traded in the Prime Standard segment of the Frankfurt Stock Exchange and on the Hanseatic Stock Exchange in Hamburg.

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