On January 6, 2010 the Executive Board of Continental AG, Hanover, resolved to implement a rights issue, with a subscription price of EUR 35 per new share. The members of a syndicate led by Deutsche Bank, Goldman Sachs and JP Morgan as joint global coordinators and by Calyon, BNP Paribas and HSBC as joint bookrunners have agreed to firmly underwrite the 31 million new shares.

Continental will receive gross proceeds from this rights issue of approximately EUR 1.1 billion. Continental hereby achieves a further material milestone of its refinancing package with the goal of improving its financial and capital structure.

The syndicate placed approximately three quarters of the new shares underwritten in their own name by way of a Private Placement already on January 6 to a small number of selected institutional investors. The remaining shares have been placed on January 11 by way of an Accelerated Bookbuilt Offering (ABO). The placement of the new shares is subject to a maximum claw-back of 11.1% depending on the final results of the rights offering.

The existing shareholders exercised their subscription rights from January 12, 2010 to January 25, 2010.

With sales of approximately EUR 24 billion in 2008, Continental is one of the top automotive suppliers worldwide. Continental currently employs approximately 134,000 at nearly 190 locations in 37 countries.