Ad-hoc | 28 October 2004 11:36

Continental AG – Ad hoc: Continental plans structural changes at Phoenix

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Continental AG – Ad hoc: Continental plans structural changes at Phoenix Continental Aktiengesellschaft plans to cause its 100% group company, ContiTech Holding GmbH (in future: ContiTech AG) to enter into a domination and profit and loss absorption agreement with Phoenix Aktiengesellschaft, and to merge Phoenix and ContiTech. These structural changes shall be initiated timely after the closing of the voluntary takeover offer of Continental Aktiengesellschaft to the shareholders of Phoenix Aktiengesellschaft, which is expected to occur until 3 November 2004. After consummation of the takeover offer, Continental Aktiengesellschaft will hold more than 75 % of the voting stock of Phoenix Aktiengesellschaft. The structural changes are intended to allow for a combination of the business activities of Phoenix and ContiTech in order to realize the advantages of the merger as soon as possible in the best interest of the shareholders and employees of the companies concerned. end of ad-hoc-announcement (c)DGAP 28.10.2004 ——————————————————————————– WKN: 543900; ISIN: DE0005439004; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard), Hamburg, Hannover und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf und München; Wien und Swiss Exchange (Hauptsegment); Börse Luxembourg 281136 Okt 04