Deutsche Post AG: Agreement with Exel concerning planned acquisition

Deutsche Post AG: Agreement with Exel concerning planned acquisition

Mergers and Acquisitions

Ad-hoc-Mitteilung Übermittelt durch die DPAG.

The Company has reached an agreement with Exel plc, London, concerning the planned acquisition of Exel by the Company.

The price for each Exel share is 900 Pence (13.30 Euro) and 0.25427 shares of the Company. As a result, based on the closing price of the share of the Company on September 16, 2005, the aggregate consideration per Exel share amounts to 1,244 Pence (18.39 Euro) and the total value of the transaction is approximately 3.7 billion Pounds Sterling (approximately 5.5 billion Euro) (taking into account proceeds from the exercise of Exel stock options).

Approximately 72 % of the acquisition price will be paid in cash, the remainder by issuing new shares from the authorized capital of the Company. The Company’s share capital will thus increase by approximately 7 % .

Upon completion of the transaction, Deutsche Post World Net intends to appoint John Allan as head of the enlarged business unit LOGISTICS, comprising the combination of Deutsche Post World Net’s and Exel’s existing logistics activities. Deutsche Post World Net intends that John Allan will lead the integration process. The headquarter of the combined business is intended to be located in Bracknell, United Kingdom.

The acquisition of Exel is subject to the consent of the shareholders of Exel with a majority that represents 75% of the share capital represented at the vote, clearance by the competent competition authorities as well as further conditions customary for transactions of this type.

The joint Announcement released in accordance with the English Takeover regime by both parties is available here. Details on the investor- and press conference and conference call planned for today can also be found on this website.

Deutsche Post AG
Charles-de-Gaulle-Straße 20
53113 Bonn
Germany

ISIN: DE0005552004 (DAX)
WKN: 555200