Ad-hoc | 11 August 2005 19:18

Dürr AG: S&P downgrades Dürr rating by one notch to ‘B’

Ad hoc announcement §15 WpHG S&P downgrades Dürr rating by one notch to ‘B’ Dürr AG: S&P downgrades Dürr rating by one notch to ‘B’ Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— S&P downgrades Dürr rating by one notch to “B” Stuttgart, August 11, 2005 – Standard & Poor’s (S&P) has lowered Dürr AG’s long-term corporate credit rating from “B+” to “B” and placed it on credit watch with negative implications. The rating agency notified the company of this action today around 5 PM. The reason cited for the decision of the rating agency is the weaker earnings outlook. Today, the company has announced that it will not be able to achieve its original profit target of more than EUR 18.6 million due to restructuring charges and sales revenues and earnings contributions of the Paint and Assembly Systems division below expectations. S&P also refers to the currently difficult environment in the automotive industry. At the same time S&P has lowered the subordinated debt rating for Dürr’s corporate bond placed in July 2004 for EUR 200 million from “B-” to “CCC+” and placed it on credit watch with negative implications. Dürr budgeted total expenses of EUR 40 to 50 million for the implementation of the restructuring program FOCUS. In return, the company expects annual cost savings to the same extent. In the context of FOCUS, Dürr aims to significantly improve profitability through a reorganization of the business model towards the more profitable modernization and services business areas. Contact: Dürr AG Stephan Haas Corporate Communications & Investor Relations Phone: +49 (0)711 136-1785 Fax: +49 (0)711 136-1034 Email: corpcom@durr.com Dürr AG Otto-Dürr-Strasse 8 70435 Stuttgart – Zuffenhausen Deutschland ISIN: DE0005565204 (SDAX) WKN: 556520 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Hannover End of ad hoc announcement (c)DGAP 11.08.2005 111918 Aug 05