TC Group Announce Change At TC Works

Hamburg, Germany (December 1, 2003)--The rapid convergence of the hardware and software markets made TC Electronic and TC Works decide to merge brands earlier this year. All TC Works products are now marketed under the TC Electronic brand; marketing and distribution were relocated to TC Electronic in Denmark. As a consequence of that, the local CEO role for the business in Hamburg is no longer required; the team will work and act as a part of TC Electronic in the future.
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Hamburg, Germany (December 1, 2003)--The rapid convergence of the hardware and software markets made TC Electronic and TC Works decide to merge brands earlier this year. All TC Works products are now marketed under the TC Electronic brand; marketing and distribution were relocated to TC Electronic in Denmark. As a consequence of that, the local CEO role for the business in Hamburg is no longer required; the team will work and act as a part of TC Electronic in the future.

"It is very hard for me to leave this seat," says Ralf Schluenzen, CEO of TC Works, "but it is the right thing to do in the interest of doing the best for the company and the product line. We need tight integration of development efforts in Hamburg and Denmark, to ensure that TC continues to provide superior software and hardware solutions. In my opinion, a good manager has to question his own relevance and work for the interest of ensuring the right setup. So me leaving is only the logical consequence of that."

Says Anders Fauerskov, CEO of TC Group: "It is with sadness that we now see Ralf leaving the organization. Ralf has within the past 7 years built TC Works from the ground up to a company that have continued to deliver superior quality products within the computer recording market. He leaves a very strong engineering team, which now will work closely together with their colleagues in Denmark, to continue the tradition of providing the market with leading edge innovative products within the computer recording field. I would like to take this opportunity to thank Ralf for the co-operation, and wish him all the best in the future."

Mr. Schluenzen will leave TC at the end of 2003.

TC Works
www.tcelectronic.com