2008.07.24

Hanover, July 22, 2008. Continental AG has acquired 89.66 percent of the shares in Oltas SPA headquartered in Istanbul from the industrial and automotive supplier corporation Koç Holding (sales in 2007: 39,5 billion US $) and the Koç family.

Oltas is Continental's exclusive tyre distributor for the passenger car and commercial vehicle tyre brands Continental, Uniroyal and Barum in Turkey. "With this acquisition, we are significantly improving our market position for commercial vehicle and passenger car tires in Turkey and thus in the growth region Eastern Europe overall. Following the majority shareholding in the Slovakian Continental Matador Rubber and the acquisition of the Finnish specialist for spikes Tikka, this transaction also demonstrates that, in both the Passenger Car and Commercial Vehicle Tyre division, we are constantly on the lookout for meaningful additions to our portfolio and want to continue growing," said Dr. Alan Hippe, Executive Board member responsible for the Passenger Car Tyre division.

Turkey is considered to be one of the European growth markets for the next few years, since only one in ten of its 75 million inhabitants have their own car, incomes are increasing steadily and the economy has recently become much more stable than in the past. Turkey is also one of the biggest markets for commercial vehicle tyres in Europe. Oltas SPA achieved sales of some 39 million euros in 2007 with a workforce of approximately 65. Today, it has a franchise dealer network with more than 200 shops that is to be expanded even further. Both parties have agreed to maintain secrecy with respect to the purchase price. Approval from the Turkish antitrust authorities has yet to be granted, and further approvals from the European authorities are not required in the case of this majority holding.

With targeted annual sales of more than €26.4 billion for 2008, the Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tyres and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. Today, the corporation employs approximately 150,000 people at nearly 200 locations in 36 countries.

The tyre divisions are an Official Sponsor of FIFA World Cup 2010^TM, which will be held in South Africa. For further details, visit the websites www.ContiSoccerWorld.de, www.ContiFanWorld.com and www.continental-corporation.com.