Board and Supervisory Board of TAKKT AG permit execution of share buyback

Ad-hoc statement, 16 May 2003

Following the authorisation of a share buy-back programme by the shareholders’ meeting on 6 May 2003 the Management and Supervisory Board have meanwhile approved the execution of this programme.

The company is now going to buy-back own shares if and to the extent this is considered reasonable in connection with the convertible bonds (ISIN: LU0085996709) issued by a company of the AXA group also up to 10% of TAKKT shares which are due in the course of this year. It remains however the prime objective of TAKKT’s Management and Supervisory Boards to increase the free float in TAKKT shares which is an excellent opportunity in connection with the AXA held shares.

The company invites all holders of the AXA convertible bonds (ISIN: LU0085996709) to contact TAKKT’s Investor Relation’s department (attn. Mr. Hanns Rüsch, phone: +49 (0)711 34658-222) if they have questions concerning the TAKKT shares which are going to be distributed to them or if they should be interested in finding a buyer for their shares.

TAKKT’s shareholders’ meeting has authorised the Management Board to acquire own shares up to 10% of the company’s share capital for all purposes allowed by law. The authorisation will lapse after 5 November 2004. Own shares can especially be acquired either via the stock exchange or by private contract (block acquisition). The transaction value per share (exclusive incidental costs of acquisition) may not exceed or fall below the price determined by the opening auction on the date of the transaction in the XETRA trading system at the Frankfurt stock exchange by more than 10%. This also applies for private transactions.

TAKKT AG is the European and North American market leader in the B-to-B mail order business for office, plant and warehouse equipment. The group sells its products in over 20 countries in Europe, America and Japan (since January 2003). In 2002 TAKKT achieved a turnover of 783,7 Mio. EUR and an EBITDA of 85,7 Mio. EUR.

Stuttgart, 16 May 2003