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22 March 2006

Federal Anti-Trust Authority Approves Completion of Contracts for the Sale of Pfleiderer track systems to AXA Private Equity

The Federal Anti-Trust Authority has written to Pfleiderer AG, Neumarkt (ISIN DE0006764749) on March 21, 2006, informing that it sees no grounds why the transaction for the sale of Pfleiderer track systems to AXA Private Equity should not be completed. This means that a major condition for closing the transaction has now been fulfilled. Pfleiderer AG expects to close the contracts in the near future.

On March 10, 2006, Pfleiderer AG notified the authorities that it had signed a contract to sell its business centre Pfleiderer track systems to AXA Private Equity. Pfleiderer expects to gain a book profit of around €45 million, after tax, from the sale.

The sale of the business centre track systems marks the end of a phase of strategic realignment by Pfleiderer AG, which is now focusing on the international expansion of its engineered wood activities.

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