Ultrasonic AG / Key word(s): Change of Personnel 21.10.2014 16:46 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ultrasonic AG: Supervisory Board appoints new Management Board member - Supervisory Board appoints Dr. Harald Zender to the Management Board - CFO Clifford Chan has stepped down Cologne, 21 October 2014 - By resolution of the Supervisory Board, Ultrasonic AG appointed Dr.-Ing. Harald Zender to the Management Board of the company with effect from 27 October 2014. In addition to his long-standing experience in the areas of private equity and management consulting, Dr. Zender has extensive knowledge of the Asian market: As interim manager at Kinghero AG, he has taken several measures to stabilize the company and has gathered wide experience in cooperating with Chinese authorities. Moreover, in the past he was a member of the Management Board of RHI AG, the worldwide largest manufacturer of refractory products, and in this context responsible for the Chinese market and the ASEAN countries. As part of this decision and in consultation with the Supervisory Board, the company's CFO, Chi Kwong Clifford Chan, is stepping down also with effect from 27 October 2014. Mr. Chan originally intended to vacate his post for personal reasons on 30 September 2014 but announced on 17 September that he was prepared to remain in his function as CFO for an interim period to help clarify Ultrasonic's situation. The reason given for his decision to step down now is that he has not obtained any further information on the assets and operating business of the operating company in China. Consequently, he is not able to make any further contribution to clarifying the situation as he had hoped. The Supervisory Board regrets Mr. Chan's decision and explicitly thanks him for his work, especially in the past few difficult weeks, and for his strong loyalty to the company. By appointing Dr. Zender the company remains capable of acting and will continue its efforts to clarify the current situation. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Ultrasonic The Cologne-based company Ultrasonic AG is the German holding company of the Chinese ULTRASONIC Group, an established manufacturer and supplier of high-quality branded urban footwear. The Group operates in three main market segments: ULTRASONIC produces sandals and slippers for the upper price segment for the local and international market. It is also a long-term supplier of shoe soles to leading manufacturers in the established Chinese sport shoe industry such as Anta, Xtep and Unisuper. Moreover, the company has developed its own very successful high-quality urban footwear collection which is marketed under the ULTRASONIC brand and targets China's young, fashion-conscious urban middle class, which has high purchasing power and expects high quality. For further information about the company visit: www.ultrasonic-ag.de For enquiries: Ultrasonic AG E-Mail: [email protected] Disclaimer: This document is no offer for the purchase of securities in the United States of America. Securities may only be sold or offered for sale with the previous registration under the U.S. Securities Act of 1933 in the actual valid version or without previous registration only pursuant to an exemption. The shares of Ultrasonic AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933 in the actual valid version and may not be sold or offered in the United States. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares, which are referred to, are only available to relevant persons and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. 21.10.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Ultrasonic AG c/o BPG mbH, Graf-Adolf-Platz 12 40213 Düsseldorf Germany Phone: +86 1525 947 9902 (China); +852 966 227 40 (Hong Kong) Fax: +49 (0)211 172 9829 E-mail: [email protected] Internet: www.ultrasonic-ag.de ISIN: DE000A1KREX3 WKN: A1KREX Indices: CDAX, Classic All Share, DAXsector All Consumer, DAXsector Consumer, DAXsubsector All Clothing & Footwear, DAXsubsector Clothing & Footwear, Prime All Share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------