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:   Germany

17.08.2007

The JP Morgan Chase & Co., New York, USA informed the BAUER 
Aktiengesellschaft (ISIN DE0005168108) via Fax dated 15th of August 
2007 about the following:

"According to § 21 para 1 WpHG this is to inform you that JP Morgan 
Chase & Co. has fallen below the threshold of 3% of the voting rights
of Bauer AG, Wittelsbacherstrasse 5, 86529 Schrobenhausen on the 10th
August 2007 and now amounts to 2.96% (507,817 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 2.90% corresponding to 496,030 of the 
voting rights. Furthermore, the attribution of the voting rights to 
JP Morgan Chase & Co. according to § 22 para 1 sentence 1 no. 1 WpHG 
is concerning 0.07% corresponding to 11,787 of the voting rights."

end of announcement                               euro adhoc 17.08.2007 08:53:45

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