[ Strong Expansion of East European Business ]

Danzas, the international logistics group, has increased its equity ho
lding in Danubiasped Gmbh of Hungary from 74.9% percent to 100 percen
t as part of its expansion program in eastern Europe. Now a wholly own
ed subsidiary, the company was renamed Danzas Gmbh on 1 January 1999.
As a result, Danzas is now doing business under its own name in Hungry
. Airfreight is handled by Danubiasped Air, in which Danzas holds a 58
percent interest. chemoldanzas, owned 50 percent by Danzas, concentra
tes mainly on rail forwarding.
Danzas has built up a leading position in the Hungarian market in rece
nt years. Danubiasped Air is market leader in airfreight. With its af
filiates, Danzas is now one of the country’s three leading forwarders
in European overland freight(road and rail). Regular connections are
offered several times a week between Hungary and all western European
countries. Danzas plans to expand market share further in Hungary by o
ffering customized logistics solutions.