Insights into the Annual General Meeting 2002 ...

This year again, the second regular Shareholders' Meeting of IM Internationalmedia AG was followed with a lively interest by the many members of the public who attended.

The chairperson of the supervisory board, Antoinette Hiebeler-Hasner, opened the Shareholders' Meeting and warmly welcomed those present. Then she briefly introduced the newly-formed board of directors: Moritz Borman, chairman, Caspar von Blomberg, vice chairman and Andreas Konle, CFO. At the same time she apologised for the absence of the new board member Graham King, chairman of the subsidiary Initial Entertainment Group, and supervisory board member Hugh Grant.

Once the formalities were completed, Ms. Hiebeler-Hasner stepped aside for Moritz Borman, who gave an extensive review of the main events of the past business year and the last few months.

Subsequently, Andreas Konle commented on the business year and the changes that have taken place from a financial point of view. Then Caspar von Blomberg described the promising prospects for the coming years.

Next, the board of directors and the supervisory board faced the critical and probing questions and concerns of the representatives of small shareholders, Mr. Schmitt (Schutzgemeinschaft für Kleinaktionäre/Small Shareholders' Interest Group) and Mr. von Schorlemer (Deutsche Schutzgemeinschaft für Wertpapierbesitz / German Stock Owners' Interest Group) and other shareholders. The questions focused especially on the development of the share price over recent months, the modified accounting rules, the changes in the board of directors, share sales by the directors and the key company figures presented in the 2001 annual report and the quarterly report for 2002. Given the general crisis in the media sector, shareholders requested an estimation of IM's future development and positioning.

The question and answer session was followed by voting on the seven points on the agenda. To occupy the audience during the waiting time, clips from the latest IM films were shown, including the eagerly awaited "Gangs of New York" directed by Martin Scorsese and featuring Leonardo DiCaprio and Cameron Diaz. The previous evening, a 20-minute clip of this film had been shown for the first time to an appreciative audience in Cannes. Also presented here for the first time was film material from "Terminator 3" - Schwarzenegger had promised "I'll be back". In reference to this, a recent study on IM was entitled "They'll be back". "That says it all", was Moritz Borman's final comment.