Deutsche Bank and JPMorgan in Heidelberger Druckmaschinen €280 Million Convertible Bond Offering

February 9, 2005

Cleary Gottlieb represented the underwriters Deutsche Bank and JPMorgan in an offering by Heidelberger Druckmaschinen AG of €280 million (including an over-allotment option of up to €20 million) of 0.875% convertible bonds.

The bonds, issued through Heidelberger Druckmaschinen’s Dutch finance subsidiary, Heidelberg International Finance B.V. and guaranteed by Heidelberger Druckmaschinen, have a 7-year term including an issuers’ call and a bondholders’ put. The bonds have been placed with institutional investors on an undocumented basis under Reg. S and will be listed on the Luxembourg Stock Exchange.

Heidelberger Druckmaschinen is the world’s leading provider of business solutions for the print media industry and the global leader in sheet-fed printing presses.