CHG-MERIDIAN: further growth in the first quarter

The CHG-MERIDIAN Group reported total lease originations of €126 million for the first quarter of 2005 (1 January to 31 March). This represents an increase of 22.9 per cent on the relatively disappointing figure of €102.5 million reported for the first quarter of 2004. The lease originations figure comprises the total capital cost of newly acquired leased assets.
 
The German parent company generated €104 million of the Group's lease originations, a rise of 19.3 per cent on 2004's figure of €87.2 million. Although the German parent still accounts for the lion's share of lease originations, the foreign subsidiaries' share of new business is steadily increasing and amounted to 17.4 per cent in the first quarter of 2005.

The French subsidiary turned in a particularly encouraging performance, generating lease originations of €10 million and exceeding its targets for this period. This result is proof positive that the acquisition of Finexis S.A. last August was the right move to enable us to achieve success in the French market. The performance of our subsidiaries in the Netherlands, Switzerland and Italy was also encouraging.

"The strong performance of the Group as a whole demonstrates that our financing solutions and our extensive range of products and services are generating a good response not just in Germany but in all other European countries as well", commented Jürgen Mossakowski, chairman of the Management Board of CHG-MERIDIAN Deutsche Computer Leasing AG.

Operating in 14 countries across Europe, CHG-MERIDIAN is active in more European countries than any other leasing company. It is represented at seven locations in Germany, at five in France and at two in the United Kingdom. It has further subsidiaries in Austria, Belgium, the Czech Republic, Ireland, Italy, the Netherlands, Poland, Russia, Slovakia, Spain and Switzerland.

Established in 1979, CHG-MERIDIAN Deutsche Computer Leasing AG is one of Europe's leading independent leasing companies specialising in information technology. It offers a full range of services that include flexible financing, services solutions and the remarketing of second-user IT hardware.