SIE Siemens N Ord

RNS Number:5411I
Siemens AG
5 April 2000


BOSCH AND SIEMENS MAKE BETTER OFFER FOR ATECS

Convincing industrial concept: Joint growth strategy for leading engineering and
technology company - Increase in Atecs capital - Merger of Siemens Automotive
Systems and VDO under Siemens industrial management

Robert Bosch GmbH, Stuttgart, and Siemens AG, Munich/Berlin, made an offer today
to the Supervisory and Managing Boards of Mannesmann AG to acquire Atecs
Mannesmann AG for Euro9.1 billion. Bosch and Siemens want to continue operating
the company on a parity basis as a joint venture and further develop its
business by bringing in their own activities. The new company will be one of the
most important engineering and technology enterprises on the world market.

The acquisition will be financed with current liquid assets of Bosch and
Siemens. Following their acquisition of the company, Siemens and Bosch intend to
make additional capital available to Atecs in order to finance its growth. This
move would foster long-term growth in the new company and help secure jobs.
Bosch and Siemens hope to wrap up the negotiations as quickly as possible. The
structure of the joint venture will be tailored to meet antitrust regulations so
that approval by the antitrust authorities can be expected.

END

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