Former 3Com Managing Director Manfred Hasseler joins ELSA AG management board with responsibilities for Sales and newly established E-Commerce

March 01, 1999 - ELSA AG, Aachen, whose shares are trading on the "Neuer Markt" trading segment of the Frankfurt Stock exchange in Germany, is strengthening its Management Board with a new member. In time for CeBit, Manfred Hasseler will assume the responsibility for Sales and ELSA AG's planned E-Commerce activities.

Hasseler was formerly responsible for the Central- and East-Europe business of US-Robotics and, after the merger with 3Com, Managing Director of 3Com Germany GmbH. Previously he was responsible at Compaq for sales in Germany. As an expert in data communications, internet and PC markets, Hasseler provides the ideal background to strengthen ELSA's sales activities.

Theo Beisch, President and CEO of ELSA, comments: "Manfred Hasseler's international experience provides an excellent base for the international expansion plans of ELSA, while building on the already strong position ELSA has within Germany. This addition to our board optimizes the conditions for our ambitious growth goals."

Peter Güldenberg, member of ELSA's management board, and responsible for sales, marketing and the business units, until February 28th, has left the German high tech company in the context of the strategic redirection of its sales efforts with mutual consent.

The management board now consists of Theo Beisch (President and CEO), Josef Beisch (CFO and COO), Helmut Nebgen (Corporate Marketing and Branded Goods) and Manfred Hasseler.

ELSA was founded in 1980 and today has around 550 employees. In addition to its headquarters in Aachen, Germany, it also maintains subsidiaries in Santa Clara, California, as well as Taipei, Taiwan and Tokyo, Japan. ELSA develops, manufactures and markets PC hardware and software components for the data communications and computer graphics sectors. Its product range includes modems, ISDN adapters, videoconferencing systems, ISDN routers, graphics boards and monitors. ELSA AG shares have been traded on the "Neuer Markt" stock exchange in Frankfurt since June, 1998.

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