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Heidelberg Establishes Funding of Pension Obligations to Trust

Wednesday, February 15, 2006

Press release from the issuing company

The Management Board of Heidelberger Druckmaschinen Aktiengesellschaft (Heidelberg) today took the decision to transfer the funding of pension obligations for existing and retired members of staff through a Contractual Trust Arrangement (CTA). This move will initially involve transferring assets worth around 450 million Euro to Heidelberg Pension Trust e.V. These assets will comprise all the shares in special funds held by Heidelberg worth around 370 million Euro, which have already been set aside to meet pension obligations, and a cash payment of around 80 million Euro. The assets transferred to the trust may only be used to fulfill the obligations relating to the company pension. The pension rights of existing and retired employees vis-à-vis Heidelberg remain unchanged. "Even after the assets have been transferred, Heidelberg will remain in a strong financial position that will enable it to drive the company’s market and technology leadership and maintain its dividend policy," says Dr. Herbert Meyer, CFO at Heidelberger Druckmaschinen AG. "This measure will reduce Heidelberg's consolidated balance sheet total and, in doing so, facilitate comparison of its key financial indicators on the international capital market."




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