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RTV Drops To One Board Member

Dr. Peter Duval has resigned from his position as speaker of the managing board of German entertainment company RTV as of January 31, 2003. During the recent restructuring process, the business volume of RTV has been reduced considerably and Duval stated that he no longer wanted to be at the disposal of the restructured company. This restructuring reduced the amount of ongoing production obligations the company had. RTV will now refocus on its original operational core business, including the co-production and distribution of animated series, the programming of its branded block "Ravensburger TV" on broadcaster Super RTL, international sales of its extensive library and merchandising rights. In addition to Duval's departure, Fredrik Henzler has stepped down from his position as member of RTV's managing board, leaving newly appointed board member Markus Reischl (46) as the sole managing board member. Due to the reduced business volume along with the lesser number of employees of RTV (the company cut staff by two-thirds in October 2002), the company feels confident heading into the future with only one member of the managing board. Prior to this Reischl was member of the board at Helkon Media AG, where he was responsible for sales and marketing.