Notification of voting rights transmitted by euro adhoc. The issuer is
  responsible for the content of this announcement.

Person/company obliged to make the notification:
Name:    JP Morgan Chase & Co.
Place:   New York
State:   USA

Company data:
Name:    BAUER Aktiengesellschaft
Address: Wittelsbacherstr. 5, 86529 Schrobenhausen
Place:   Schrobenhausen
State:   Deutschland

13.07.2007

The JPMorgan Chase & Co., New York, USA informed the BAUER 
Aktiengesellschaft, Schrobenhausen (ISIN DE0005168108) via Fax dated 
12th of July 2007 about the following:

"According to § 21 para 1 WpHG this is to inform you that JPMorgen 
Chase & Co has exceeded the threshold of 3% of the voting rights of 
Bauer AG, Wittelsbacherstrasse 5, 86529 Schrobenhausen on the 9th 
July 2007 and now amounts to 3.08% (527,313 shares) in relation to 
all shares of the respective voting shares.

The attribution of the voting rights to JPMorgan Chase & Co. 
according to § 22 para 1 sentence 1 no. 6 in conjunction with 
sentence 2 WpHG is concerning 3.02% corresponding to 517,694 of the 
voting rights which results from JP Morgan Asset Management Holdings 
Inc. among others. Furthermore, the attribution of the voting rights 
to JP Morgan Chase & Co. according to § 22 para 1 sentence 1 no. 1 
WpHG is concerning 0.06% corresponding to 9,619 of the voting 
rights."

end of announcement                               euro adhoc 13.07.2007 15:22:39

Further inquiry note:

Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: CDAX, Classic All Share, Prime All Share, SDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade