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euro adhoc: K+S Aktiengesellschaft
other
K+S reorganises corporate structure of the SPL Group
Non-recurrent deferred tax income recognised in profit and loss of about EUR 35-40 million
Reduction in tax expense of the K+S Group in 2006 non-cash to

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
30.11.2006
Today, the responsible bodies resolved to merge SPL, Chile, which was
acquired by K+S, with a Chilean acquisition company formed by K+S
taking effect from 1 December 2006. The merger will trigger an
increase in tax carrying amounts and lower future income tax payments
on the part of the company in Chile as a result of the recognition of
additional tax depreciation.
It will also lead to the reporting of non-recurrent deferred tax
income recognised in profit and loss of about EUR 35-40 million in
the K+S consolidated financial statements prepared in accordance with
IFRSs. Consequently, the adjusted earnings per share forecast for
2006 will probably increase by EUR 0.85 to EUR 1.00 (hitherto
forecast: EUR 4.00-4.25 per share). However, the reduction in the tax
expense resulting from the appropriate accounting treatment will be
non-cash to a great extent in 2006 with the cash advantage rather
having an effect successively over the coming years.
The Board of Executive Directors therefore does not intend to take
account of this extraordinary effect in determining its proposal for
the 2006 dividend.
K+S Aktiengesellschaft
Kassel, 30 November 2006
The Board of Executive Directors
end of announcement                               euro adhoc 30.11.2006 14:05:19

Further inquiry note:

Christian Herrmann
Tel.: +49 (0)561 9301 1460
E-Mail: christian.herrmann@k-plus-s.com

Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
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