Ad-hoc | 1 July 2005 07:40

Fresenius AG: Changes to Fresenius AG’s corporate credit ratings

Ad hoc announcement §15 WpHG miscellaneous Fresenius AG: Changes to Fresenius AG’s corporate credit ratings Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Changes to Fresenius AG’s corporate credit ratings Fresenius AG today announced that Standard & Poor’s and Moody’s will change their credit ratings for the Company by one notch. Standard & Poor’s plans to lower its rating from “BB+” to “BB” with a negative outlook upon completion of the Renal Care Group acquisition by Fresenius Medical Care. Moody’s lowered its rating from “Ba1” to “Ba2” in anticipation of the Renal Care Group acquisition. The outlook is stable. This downgrade was expected given the decision to fully debt-finance the acquisition of Renal Care Group. On the other hand, the acquisition sustainably strengthens Fresenius Medical Care’s position in the global dialysis market. Fresenius has a proven ability to considerably reduce debt from solid cash flows and is therefore confident to meet its financial goals. The Management Board Bad Homburg v.d.H., July 1, 2005 Fresenius AG Else-Kröner-Straße 1 61352 Bad Homburg v.d.H. Deutschland ISIN: DE0005785638 (MDAX); DE0005785604 WKN: 578563; 578560 Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart End of ad hoc announcement (c)DGAP 01.07.2005 010740 Jul 05