S&T System Integration & Technology Distribution AG: Detailed negotiations with banks successfully concluded

Vienna (pta027/22.02.2011/14:00 UTC+1) Consequent to the agreement in principle with the financing banks, S&T has now successfully completed the detailed negotiations. The funding package approved provides equal treatment of all creditors, the postponement of the bonds, initially due in 2011, to at first 1 April 2012 and provides the basis for successful completion of the discussions with potential investors.

In the course of the restructuring it has become inevitable to close our Swiss subsidiary by way of insolvency. "This step is unfortunately necessary and inevitable", said Michael Lanik, CRO of S&T AG.

In the ongoing restructuring process we will focus on our core competencies and core markets. "S&T is now geographically positioned to allow a successful turnaround", Lanik concluded.

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Emitter:	S&T System Integration & Technology Distribution AG Geiselbergstraße 17-19 1110 Wien Austria
Contact Person:	Mag. Michael Dvorak
Phone:	+43 1 367 80 88 1020
E-Mail:	michael.dvorak@snt-world.com
Website:	www.snt-world.com
ISIN(s):	AT0000905351 (Share)
Stock Exchange(s):	Vienna Stock Exchange