Portfolio further optimised with US acquisition

Ad-hoc statement, 14 November 2005

TAKKT AG buys US market leader in office furniture mail order

TAKKT AG, Stuttgart, is expanding its presence in the US office furniture market. The leading B2B mail order company for office, business and warehouse equipment in Europe and North America will be taking over the business of the National Business Furniture (NBF) group at the beginning of January 2006.

Subsequent to the approval by the Supervisory Board of TAKKT AG on 4 November 2005 (see ad-hoc statement as of 4 November 2005), K + K America Corporation, a group company of TAKKT AG, signed today a respective purchase agreement which requires the approval of the competent cartel authorities. The purchase price is USD 82 million (approx. EUR 70 million).

The NBF group is North America's market leader in the office furniture mail order segment. NBF is based in Wisconsin and operates five brands. National Business Furniture generates the greatest proportion of total turnover. This core brand sells traditional US office furniture to a broad range of companies. The Alfax and Dallas Midwest brands mainly focus on non-profit-organisations such as schools, universities and public authorities. OfficeFurniture.com and FurnitureOnline.com are also part of the group and only sell their products online. The NBF product range consists of more than 11,000 articles.

In 2004 the NBF group achieved sales of approx. USD 114 million, which represents more than 8 percent growth over the prior year. In 2005 10 percent sales growth is expected. The EBIT margin of the NBF group in 2004 was a good 4 percent. In 2005 approx. 5 percent is expected.

TAKKT can finance the acquisition with existing credit lines.

Stuttgart, 14 November 2005

Contacts:

Georg Gayer, CEO
Phone +49 711 34658-201

Dr Florian Funck, CFO
Phone +49 711 34658-207