equity in motion

Press Release | Munich, 22 June 2005

AdAstra exits Trados, Inc.

_SDL plc yesterday announced the proposed acquisition of Trados Inc., a portfolio company of AdAstra, for a maximum aggregate consideration of US$ 60 million in cash and stock. Trados, based in Sunnyvale, CA and Stuttgart, Germany is a leading company engaged in translation memory and globalization management software. Trados received financing from AdAstra and other leading Venture Capitalists like HG Capital, Wachovia Capital Partners and Sequoia Capital.

_Trados (www.trados.com) provides translation memory software solutions that enable global businesses to operate more efficiently in foreign markets by automating key processes associated with the authoring, localization and publishing of enterprise information. Trados´ products are used in over 3,500 enterprises worldwide, and it enjoys a significant global market share of translation memory solutions.

_SDL (www.sdl.com) is a London Stock Exchange listed provider of globalization service solutions and related software applications to a variety of multinational businesses. The combined group will have 50 offices around the world, with more than 100,000 licenses in the market and over 100 Enterprise Solutions installations.

_Joseph Campbell, President and CEO of Trados, commented: "This is a wonderful opportunity for the enlarged group to take full advantage of the growth opportunities in software, services and solutions for the global information management market."

_Thomas Krueger, Managing Partner of AdAstra added: "We are very satisfied with this event and the combination of Trados´ and SDL´s forces. Together they will create a true translation solutions powerhouse."

_AdAstra has been an investor in Trados since August 2000. The acquisition is conditional, inter alia, upon the approval of SDL´s shareholders.

About AdAstra:
AdAstra is a Munich-based independent Private Equity firm, founded in June 2000, targeting later stage high-growth and technology-oriented companies in IT, telecommunication and high-tech industries. As a sparring partner to its portfolio companies, AdAstra provides permanent support through its experienced and inter-disciplinary management team and its contact network. AdAstra currently has an interest in leading technology companies like ASK, Asknet, Asyntis, Bäurer and Gomez, among others.

Contact AdAstra:
Ulrich Clemm / Thomas Krueger
Managing Partner
Phone: +49. 89. 710 40 85-0
Fax: +49. 89. 710 40 85-29

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