DIC Asset AG decides to conduct share buyback

The Management Board of DIC Asset AG has resolved with the consent of the Supervisory Board to buy back shares of the company of up to 5% of the share capital, corresponding to up to 1,567,499 shares. The share buyback shall start on October 10, 2008 and is to be ended on February 10, 2009 at the latest.

With this move, the Management Board makes use of the authorization to acquire own shares granted by the Annual General Meeting of DIC Asset AG held on May 14, 2008 in accordance with Sec. 71 para. 1 No. 8 German Stock Corporation Act. The shares that are bought back may be used for any purpose set forth in the authorization resolution of the Annual General Meeting of May 14, 2008. This includes the redemption of the shares.

The share buyback will be carried out on behalf and account of the company through a bank commissioned by the company. The bank will decide on the timing of the purchase of the shares and the purchase volume independently, without being influenced by the company. The share buyback will be conducted via the stock exchange, as favourably as possible for DIC Asset AG. The purchase price per share (excluding transaction ancillary costs) may not be more than 10% over or under the price determined on the trading day by the opening auction in the Xetra trading system (or a comparable successor system) on the Frankfurt Stock Exchange.

Furthermore the bank has been committed to comply with the conditions for trading as per Art. 5 of the Commission Regulation (EC) No. 2273/2003 dated December 22, 2003. The purchase price must not be above the higher of the price of the last independent trade and the highest current independent bid on the relevant stock exchange. The bank must not purchase more than 25 % of the average daily volume of the shares in any one day on the regulated market on which the purchase is carried out; this volume must be based on the average daily volume traded in the 20 trading days preceding the date of purchase.

To the extent required and legally permissible, the buyback program may be suspended and resumed at any time.

The transactions will be disclosed in accordance with Art. 4 para. 4 of the Commission Regulation (EC) No. 2273/2003 no later than on the seventh trading day following their conclusion. In addition, DIC Asset AG will provide regular updates on the progress of the share buyback at www.dic-asset.de.

source : DIC Asset AG