New VP, COO for ZDF Enterprises

MAINZ, June 29: ZDF Enterprises has announced that its VP
and COO Armin Rabe will retire, as of tomorrow, with Stephan Adrian set to take
over that role effective July 1.

Rabe was appointed the VP and COO of ZDF Enterprises in
2001, where he was responsible for issues relating to finance, human resources,
legal questions and management of subsidiary and associated enterprises. He
began working for ZDF in 1979 and moved to ZDF Enterprises when it was founded
in 1993. Initially, he was the authorized representative of ZDF Enterprises and
the head of the finance, law and personnel department. From 1996 to 2003, he
was also co-managing director of various subsidiaries.

Rabe will be succeeded by Stephan Adrian. Adrian joined the
ZDF department of tax, insurance and social insurance as a consultant in 1988
and was eventually appointed head of that department in January 1993.

Professor Markus Schaechter, the director-general of ZDF,
commented: "After many years of brilliant work for ZDF, Armin Rabe was
able to employ his many talents to the optimum for the following 15 years with
our subsidiary ZDF Enterprises and its associates. We thank him for everything
he has achieved and wish him the very best of luck as he embarks on the next
stage of his life. Stephan Adrian is an experienced and innovative successor
who will no doubt apply his abilities with equal success in the service of the
ZDF family of companies."