Ad-hoc-Announcement:

Neumarkt, March 28, 2012 - As announced in the ad-hoc release dated March 27, 2012 (also in respect to the hybrid bond of Pfleiderer Finance B.V (ISIN XS0297230368 / WKN A0NTX1)) today, the Executive Board of Pfleiderer AG (ISIN DE0006764749) filed a request to open insolvency proceedings and has requested to act as debtor in possession. The appropriate Insolvency Court in Düsseldorf has appointed Mr. Horst Piepenburg as a temporary custodian.

The request to open insolvency proceedings applies only to Pfleiderer AG as the holding company, which is functioning solely as an investment holding company without any operational business activity and only 10 employees. The operational subsidiaries are not affected by the insolvency but continue their business activities as usual without any restrictions.

The aim is to now implement the necessary financial restructuring by way of an insolvency plan as debtor in possession. This will allow the Executive Board to continue to manage the business and to complete the ongoing restructuring under the supervision of a custodian.

Contact:

Analysts/Investors:
Lothar Sindel
Leiter Investor Relations
PFLEIDERER AG, Neumarkt
Tel.: + 49 (0) 9181 / 28-8044
Fax: + 49 (0) 9181 / 28-606
E-Mail: lothar.sindel@pfleiderer.com

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This press release was issued by Pfleiderer AG and was initially posted at http://www.pfleiderer.com/en/news/ad-hoc-1032.html . It was distributed, unedited and unaltered, by noodls on 2012-03-28 19:51:29 PM. The issuer is solely responsible for the accuracy of the information contained therein.