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Voluntary Purchase Offer Praktiker AGVoluntary Purchase Offer Praktiker AG

01.12.1999

Voluntary Purchase Offer Praktiker AGVoluntary Purchase Offer Praktiker AG

METRO AG, Cologne, has accumulated approximately 95% of the Praktiker shares in the course of its on-going voluntary purchase offer to the shareholders of Praktiker AG, Kirkel. The voluntary purchase offer began on 4 November 1999 and will end on 10 December 1999. According to Zygmunt Mierdorf, Member of the METRO AG Executive Board, "The high participation level to date demonstrates that our voluntary purchase offer of DM 16.50 per Praktiker share to the Praktiker shareholders is fair." As METRO AG now holds approximately 95% of Praktiker AG, the liquidity of the Praktiker share is significantly reduced. Praktiker AG will invest approximately DM 300 million over the next three years in a far-reaching repositioning program. As a result, the Praktiker Management Board has excluded dividend distribution for fiscal years 1999 and 2000. The voluntary purchase offer of DM 16.50 per share to the shareholders of Praktiker AG will conclude on 10 December 1999.

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