KWS: Südzucker and HypoVereinsbank intend to place their shareholdings in KWS in the capital market

Mannheim, 29.11.2004

Südzucker AG and Bayerische Hypo- und Vereinsbank AG notified the Management Board of KWS SAAT AG on 26 November 2004 that they intend to sell their shareholdings in KWS of 9.99% and 15% respectively in the capital market. The shares are primarily to be placed among institutional investors by a syndicate of banks consisting of Bayerische Hypo- und Vereinsbank AG, Munich (lead manager) and probably Sal. Oppenheim KGaA, Cologne, DZ Bank AG, Frankfurt, and Nord/LB, Hanover. This would increase KWS's free float to over one third of the shares. At the request of Südzucker AG and HypoVereinsbank, KWS will support the placing as well through presentations to institutional investors and analysts.

Südzucker had sold 15% of its original holding of just under 25% to HypoVereinsbank almost two years ago, as the Federal Cartel Office had continued to refuse to sanction a stronger equity and corporate interest by Südzucker in KWS. The placing will not affect the traditionally good and fruitful cooperation between Südzucker and KWS.

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