OREANDA-NEWS. On 25 August 2008 Basic Element strongly rejects the unfounded rumours that have been the basis for an article in German news magazine "Manager Magazin" published on August 21, 2008. The article speculates on talks between Basic Element and ACS on the subject of an asset stripping of Hochtief Aktiengesellschaft. The "Manager Magazin" article is totally unfounded. Basic Element remains firmly committed to its investment in Hochtief.