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Squeeze-out Resolution effective - Dürr sole shareholder in Carl Schenck AG

09/17/2004

As a result of a squeeze-out Dürr has now increased its shareholding in Carl Schenck AG, Darmstadt, to 100%. The resolution, that was necessary to exclude minority shareholders and was approved at the Schenck General Meeting held on July 9, 2004, has been recorded in the commercial register of companies and is thus legally effective.

As a result Carl Schenck AG has requested the discontinuation of its stock exchange listing. Trading of the stock will probably cease at the end of stock exchange trading hours this coming Monday, September 20. Excluded shareholders are to receive cash indemnities of Euro 157 per share. Payment procedures are put in hand immediately.

Summarizing the advantages of the squeeze-out Stephan Rojahn, Chairman of the Board of Management of Dürr AG, said, "By acquiring all of the company stock we have put ourselves in the position of being able to integrate Schenck more closely, to tighten organization and management of the Dürr Group and to reduce costs."

The German Stock Companies Act permits a squeeze-out by shareholders holding more than 95% of the shares in a company. Dürr held 98.7% of the Schenck stock prior to the squeeze-out.

The Dürr Group is one of the world's leading providers of production systems and manufacturing support services for the automotive industry. It achieved sales of about Euro 2.3 billion in 2003 with about 12,750 employees. The Schenck Group, in which Dürr acquired a majority shareholding in April 2000, develops and supplies measuring system solutions mainly for the automotive industry. In 2003 this Group employed around 3,100 people and achieved sales amounting to Euro 453 million.