GPC Biotech Is the First German Biotech Company to Adopt Voluntary Corporate Governance Principles

29-Nov-2001

GPC Biotech AG (Neuer Markt Frankfurt: GPC) is the first biotech company listed on the German Neuer Markt to voluntarily approve corporate governance principles that go beyond the requirements of law. GPC Biotech has thus established a clear set of rules covering all aspects of responsible corporate management and corporate control that are driven by value growth. These principles include the protection of shareholders' rights, comprehensive disclosure and transparency requirements, and rules governing conflicts of interest and own-account transactions.

"Our corporate governance principles are a clear expression of our commitment and our responsibility to all stakeholders on a national and international level," commented Bernd R. Seizinger, M.D., Ph.D., President and CEO of GPC Biotech. "In complex industries such as biotechnology, corporate governance principles are particularly important to reinforce a company's commitment towards value creation."

GPC Biotech's corporate governance principles are based on the OECD Principles for Corporate Governance and the Code of Best Practice of the German Panel on Corporate Governance. In addition, GPC Biotech has carried out an evaluation using the Scorecard of the Working Group of the German Association of Financial Analysts and Asset Management (DVFA). The achieved score of 88 % is an excellent result relative to a positive evaluation of corporate governance which is given at 67 % using the Scorecard.

The GPC Biotech Corporate Governance Principles and the summary of the results of the Scorecard evaluation can be viewed on GPC Biotech's homepage www.gpc-biotech.com under Investors/Corporate Governance.

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