Bayerische Motoren Werke AG

euro adhoc: Bayerische Motoren Werke AG
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Reduction of shareholding in engine manufacturer Rolls-Royce Group plc, London; Significant one-off gain expected as result of settling the exchangeable bond relating to Rolls-Royce Group plc shares

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24.02.2006

CONVENIENCE TRANSLATION ONLY GERMAN VERSION IS BINDING

In connection with the euro 560.5 million exchangeable bond issued by BMW Finance N.V. on shares in Rolls-Royce Group plc, London, exchange notices have been received from bondholders by February 24, 2006 relating to 64% of the exchangeable bond’s total nominal amount; these exchange declarations will be settled by delivering Rolls-Royce Group plc shares held by the BMW Group.

Servicing the exchange requests received to date by the delivery of Rolls-Royce Group plc shares already held by the BMW Group will reduce BMW’s shareholding in Rolls-Royce Group plc by 102,134,975 shares, taking it from approximately 9.02% to approximately 3.25% of Rolls-Royce Group plc’s share capital. 21,212,866 shares have already been delivered. On February 24, 2006 it was decided to deliver up to a further 80,922,109 shares in settlement of the exchange requests received to date, rather than to opt for a possible cash payment.

The sale of shares on the scale described above is expected to generate a gain of euro 300 million for the BMW Group in the first quarter 2006; this gain could rise accordingly if further exchange requests are received and serviced. It should be noted that this transaction gives rise to a one-off, non-cash gain which is not related to the core business activities of the BMW Group.

This compares to the fair value loss of euro 231 million on the exchangeable bond  recognised against earnings in the first three quarters of 2005, as already reported.

BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT Petuelring 130 D - 80788 Munich

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ots Originaltext: Bayerische Motoren Werke AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Marc Hassinger
+49(0)89 382 23362

Mathias Schmidt
+49(0)89 382 24118

Branche: Automotive Equipment
ISIN:      DE0005190003
WKN:        519000
Index:    DAX, CDAX, Classic All Share, HDAX, Prime All Share
Börsen:  Baden-Württembergische Wertpapierbörse / regulated dealing
              SWX Swiss Exchange / regulated dealing
              Baden-Württembergische Wertpapierbörse / regulated dealing
              SWX Swiss Exchange / regulated dealing
              Frankfurter Wertpapierbörse / official dealing/prime standard
              Frankfurter Wertpapierbörse / official dealing/prime standard
              Niedersächsische Börse zu Hannover / free trade
              Niedersächsische Börse zu Hannover / free trade
              Börse Berlin-Bremen / official dealing
              Hamburger Wertpapierbörse / official dealing
              Börse Düsseldorf / official dealing
              Bayerische Börse / official dealing
              Börse Berlin-Bremen / official dealing
              Hamburger Wertpapierbörse / official dealing
              Börse Düsseldorf / official dealing
              Bayerische Börse / official dealing



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