76IS Hsbc Bk 25

RNS No 3327j
DEUTSCHLAND INVESTMENT CORPORATION INC.
14th October 1998


                 DEUTSCHLAND INVESTMENT CORPORATION INC. ("DIC")
                Preliminary results for the year end 31 July 1998

The Report and Financial Statements for the year ended 31 July 1998 were 
approved on 9 October 1998. Set out below is the Chairman's Statement and
preliminary results.

Chairman's Statement

The year has been a successful one for your Group. Net asset value per share
has risen from DMI7.69 as at 31 July 1997 to DM21.48 as at 31 July 1998, an
increase of 21.42% over the course of the year. The increase has been driven
principally by the successful flotations of two of our investments in Spring
this year at valuations significantly higher than the valuations ascribed to
them at the beginning of the year.

One new investment of DMI2.0 million was completed dining the year, in Wap
Beteiligungsgesellschaft GmbH and, since the year end a further investment of
DM 15.0 million has been approved in the MBO of Woolworths Germany.

Electra Fleming, the Investment Manager, continues to see a healthy number of
investment opportunities and while recent market events have made us more
cautious, these factors may result in lower prices. I continue to believe that
there remain significant opportunities to make attractive investments in
private equity in Germany.

David Marlow
Chairman


As at 31 July                                       1998              1997

Net Assets                                       128,872,258       106,130,924

Net Asset Value per share                           DM21.48          DM17.69


Preliminary Results for the year ended 31 July      1998             1997
                                                     DM               DM

Bond interest                                    1,232,272         1,819,646
Deposit interest                                 1,664,373         1,245,127
Loan interest                                      937,098         1,066,095
Dividends                                          836,962           254,217

Total Income                                     4,670,705         4,385,085

Expenses                                        (3,883,301)       (3,276,638)
Loss on part disposal of indirect subsidiary      (110,349)                -

Net income before tax                              677,055         1,108,447
Taxation                                            (5,070)           (6,901)

Net income after tax                               671,985         1,101,546
Minority interest in (profits)losses of 
 indirect subsidiary                               (53,346)          229,549

Net income for the year                            618,639         1,331,095

Earnings per share                                 DMO.103          DMO.222


Note
The figures for the year ended 31 July 1997 have been extracted from the
audited report and financial statements of the Company which have been made
available to shareholders.

The audited report and financial statements for the year ended 31 July 1998 
will be made available to shareholders at the Company's registered office, PO
Box 309, Grand Cayman, Cayman Islands, British West Indies, and at the offices
of Electra Fleming German Managers Limited, Queen's House, Don Road, St. Helier,
Jersey, JE2 4QD, Channel Islands, and of Electra Fleming Holdings Limited, 65
Kingsway London, WC2B 6OT.

Contact: Caroline Syvret
Electra Fleming German Managers Limited 01534 887889


END

FR GBGMCUBGRGAC

Hsbc Bk 25 (LSE:76IS)
Historical Stock Chart
From May 2024 to Jun 2024

Hsbc Bk 25 (LSE:76IS)
Historical Stock Chart
From Jun 2023 to Jun 2024