Ad hoc: artnet AG: artnet AG to start Online Art Auctions

artnet AG / Miscellaneous business figures, Misc. strategical corporate decisions / artnet AG to start Online Art Auctions Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement.
 ---------------------------------------------------------------------- 
-------------- Berlin, February 18th, 2008 Ad Hoc Notice according to Paragraph 15 WpHG artnet AG to start Online Art Auctions artnet AG, the leading online portal for the international art market, expands once again its product line with the introduction of online auctions for modern and contemporary art, modern and contemporary prints and photographs offering the following advantages over conventional auctions: 1. 10% commission instead of 20% to 40% 2. Turnaround within 4 weeks instead of 5 to 6 months 3. Carefree bidding through access to comprehensive information about each auction lot from artnet's databases on artists, prices, market trends, market overview etc. 4. Continuous auctions without waiting for spring- or fall events. With these competitive advantages artnet management expects to successfully compete in the art auction market which exceeded Euro 20 billion in 2006 and to develop the online auctions into by far the most important of its services. The beta version of the online auctions is scheduled to begin on Monday, February 25th, 2008. A representative cross section of modern and contemporary art and photography will be offered. Registration forms are available on the homepages of artnet.com and artnet.de. Over 1.100 participants have already signed up. Doing without printed catalogues, transportation, insurance and exhibition of artworks as well as the return transport of unsold works is making low commissions and fast turnaround of online auctions possible. These costs are incurred by conventional auctions for the sole purpose of enabling buyers to view artworks prior to the auction which many do not take advantage of due to the excellent quality of today's color reproductions. artnet is employing a team of experts who are overseeing the quality and authenticity of the artworks. artnet has created price transparency in the art market with the introduction of the price database and has created a global market overview by building the gallery network where 2000 galleries are presenting their artworks. In addition artnet is providing a daily news service for the art world with the artnet magazine. With the introduction of the online auctions artnet intends to improve the much impeded liquidity in the art market. The expensive modus operandi of conventional galleries and auction houses is the reason for high transaction costs which are impairing the liquidity and growth of the art market. artnet's alternative auction platform is designed to solve this problem. artnet AG, Mauerstraße 83/84, 10117 Berlin Tel. +49 (0) 20917820 / Fax. +49 (0)20917829, E-Mail: ir@artnet.com Hans Neuendorf / Vorstand der artnet AG ISIN DE0006909500 / WKN 690950 / gelistet (Prime Standard), Frankfurt - End of news - --- End of Message --- artnet AG 61 Broadway, 23rd Floor New York United States WKN: 690950; ISIN: DE0006909500; Index: CDAX, CLASSIC All Share, Prime All Share; Listed: Geregelter Markt in Frankfurter Wertpapierbörse, Prime Standard in Frankfurter Wertpapierbörse;