Bayer buys more shares in Schering AG

Bayer AG says that Dritte BV GmbH (the "bidder" or bidding vehicle in its quest for Schering AG) has purchased additional bearer shares with no par value of Schering outside of the offer made to acquire all outstanding shares, including those represented by American Depositary Shares. The initial acceptance period for the offer expired on June 14, and the additional acceptance period for the offer expires at 24:00 hours Frankfurt Local time/6:00 pm New York time on July 6, 2006.

As a result of these additional purchases, the bidder has now acquired an aggregate of 171,825,549 shares, including ADSs, representing 88.57% of the nominal capital and voting rights of Schering, without taking into account any shares or ADSs tendered during the additional acceptance period.

The bidder, Bayer AG or persons acting on their behalf may continue to acquire additional shares during the remainder of the additional acceptance period in open market or privately negotiated transactions at prices at or below 89.00 euros per share.