P&I Personal & Informatik AG

euro adhoc: P&I Personal & Informatik AG
Buybacks
P&I AG Resolves Share Buy-back Program

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23.10.2008

The management board of P&I Personal & Informatik AG has passed a resolution today to initiate a share buy-back program. Shares in the company in the amount of up to four per cent of the share capital (up to 308,000 shares) are to be acquired via the stock exchange. The maximum total acquisition price (without ancillary acquisition costs), however, is limited to EUR 4,500,000.00. The management board intends to cancel the own shares acquired under the share buy-back program with the consent of the supervisory board, and thereby to reduce the share capital. However, the management board reserves the right to use own shares in full or in part for another purpose within the scope of the authorisation granted by the general meeting on 2 September 2008.

The program is based on the authorisation pursuant to section 71 para. 1 no. 8 of the German Stock Corporation Act (Aktiengesetz, AktG) granted to the management board by the general meeting of 2 September 2008, which entitles the management board to acquire own shares up to a maximum total of 10 per cent of the share capital existing at the time the resolution was passed by the general meeting with the consent of the supervisory board up until 1 March 2010. The acquisition price per share may neither exceed the price of the company´s share determined in the opening auction of the XETRA trading system at the Frankfurt Stock Exchange on the acquisition date (plus costs and fees) by more than 10 per cent, nor lie below such price by more than 20 per cent.

The buy-back will be carried out by the designated sponsor, Close Brothers Seydler AG, Frankfurt am Main, Germany, and in accordance with Commission Regulation (EC) No. 2273/2003 of 22 December 2003. In this context, it may be possible that the acquisition volume will exceed the threshold value of 25 per cent (however, in no case 50 per cent) of the average daily trading turnover due to the low liquidity of the shares of P&I Personal & Informatik AG. This average daily trading turnover is to be derived from the average daily trading volume in the month preceding this public announcement of the share buy-back program, and thus determined for the approved term of the buy-back program.

P&I Personal & Informatik AG intends to start the program immediately and end it on 31 March 2009 at the latest. The transactions are announced to the public pursuant to Commission Regulation (EC) No. 2273/2003 of 22 December 2003; P&I Personal & Informatik AG will provide information on the progress of the share buy-back under http://www.pi-ag.com (Link: http://www.pi-ag.com/jsp/epctrl.jsp?mod=p iag000000&cat=piag000531&pri=piag&lng=1).

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ots Originaltext: P&I Personal & Informatik AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Andreas Granderath
Telefon: +49(0)611 7147 267
E-Mail: agranderath@pi-ag.com

Branche: Software
ISIN:      DE0006913403
WKN:        691340
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hannover / free trade
              Börse München / free trade



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