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P&I Personal & Informatik AG

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

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
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).
end of announcement                               euro adhoc

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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