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5 million USD convertible bond with a conversion price of 12 EUR per share issued

Aachen, August 20, 2001 - ELSA AG one of the world's leading
vendors of solutions for Internet access, networking and computer graphics,
issued a 5 million US dollar convertible bond to Giga-Byte Technology Co.,
Ltd of Taipei, Taiwan. The 5 million USD investment in ELSA AG is in the
form of subordinated debt, based on a minimum 3 year term, bearing 3 percent
interest. The bond is convertible into ordinary shares of ELSA AG at a
conversion price of 12 EUR per share. The industry partners also plan to
expand their cooperation in the dynamic computer graphics market.


ELSA is one of the leading providers of Internet access and
computer graphics solutions for the PC. Its product range includes modems,
ISDN adapters, ISDN and DSL routers, videoconferencing systems, graphics
boards and monitors. ELSA was founded in 1980 and today has more than 600
employees. In addition to its headquarters in Aachen, Germany, it also
maintains subsidiaries in San José (USA), Taipei (Taiwan) and Tokyo (Japan)
as well as in London (UK), Paris (France), Milan (Italy), Madrid (Spain),
Stockholm (Sweden) and Eke (Belgium). Since June 1998, ELSA AG shares are
traded on the "Neuer Markt" trading segment of the Frankfurt stock exchange
in Germany.

ELSA G.B. Ltd., 1210 Parkview, Arlington Business Park,
Theale, Berkshire RG7 4TY
Tel: 0118 965 7755 Fax: 0118 965 7756
Freephone sales no.: 08000 56 34 45
Web site:

ELSA press contact:

The Edge Partnership

Kim Williams tel: 01625 507 202,

Frank Smith tel: 01625 507 208 ,

Main No.: 01625 511966, Fax: 01625 511967


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