euro adhoc: SAF AG / other / SAF Simulation, Analysis and Forecasting AG: Greenshoe Option partially exercised

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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05.05.2006

Today, BNP Paribas partially exercised the Greenshoe option granted
to it in connection with the initial public offering (IPO) of SAF
Simulation, Analysis and Forecasting AG (ISIN CH0024848738, WKN
A0JD78). As part of the IPO of SAF AG, several selling shareholders
had granted the underwriters the option to acquire up to an
additional 12.5 percent of the original placement volume of 2,416,911
shares at the offer price of EUR 17.60 per share (so-called
"Greenshoe option"). On the basis of this option, the Lead Manager
had allotted 302,114 additional shares when the allotment under the
IPO was made on 5 April. Once listing commenced, BNP Paribas took
isolated stabilisation measures. After the stabilisation period
expired, BNP Paribas exercised the Greenshoe option for the account
of the underwriters with respect to 158,507 shares. Thus, a total of
2,575,418 shares (including 158,507 Greenshoe shares) were placed in
connection with the SAF AG IPO and are now in free float. Taking into
account the partial exercise of the Greenshoe option, 46.5 percent of
SAF AG's share capital has now been placed as part of the IPO. The
partial exercise of the Greenshoe option has resulted in the
following shareholder structure: Dr. Andreas von Beringe 986,600
shares (17.8%), Prof. Dr. Gerhard Arminger 986,400 shares (17.8%),
Ventizz Capital Fund II Limited Partnership 383,053 shares (6.9%),
Techinvest Beteiligungsgesellschaft mbH & Co. KG 296,371 shares
(5.4%), PAARL Ventures GmbH 206,737 shares (3.7%), New Value 49,321
shares (0.9 %), Stock Option Plan 54,750 shares (0.9%), free float
2,575,418 shares (46.5%).

Ancillary Information: This publication neither constitutes an offer
to purchase or subscribe for nor a solicitation of an offer to
purchase or to subscribe for securities. The shares offered pursuant
to the initial public offering have already been placed. The shares
in SAF AG (the "Shares") may not be offered or sold in the United
States absent registration or an exemption from registration under
the U.S. Securities Act of 1933, as amended (the "Securities Act").
The Shares have not been and will not be registered under the
Securities Act.

end of announcement euro adhoc 05.05.2006 19:32:12
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ots Originaltext: SAF AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Astrid Strömer
+41 (0)71 666 7948
astrid.stroemer@saf-ag.com

Branche: Software
ISIN: CH0024848738
WKN: A0JD78
Index: CDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade