euro adhoc: Bayerische Motoren Werke AG / Buybacks / PROGRAMME TO BUY BACK SHARES OF COMMON STOCK (E)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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20.09.2005

CONVENIENCE TRANSLATION
ONLY GERMAN VERSION IS BINDING

Disclosure of Price Sensitive Information
(Ad-hoc-information pursuant to Sec. 15 German Securities Trading Act)

PROGRAMME TO BUY BACK SHARES OF COMMON STOCK

Munich, September 20, 2005

On May 12, 2005 the Annual General Meeting of Shareholders of Bayerische Motoren
Werke Aktiengesellschaft (BMW AG) authorised the Board of Management to buy back
BMW AG shares via the stock exchange up to a maximum of 10% of the share capital
in place at the date of the resolution and to withdraw such shares from
circulation without any requirement for a further resolution at the Annual
General Meeting. The authorisation to buy back stock remains valid until
November 11, 2006. The purchase price paid by BMW AG per share (excluding
transaction costs) may not be more than 10% above or below the market price as
determined on the date of trading by the opening auction in the XETRA trading
system.

Based on the authorisation given by the Annual General Meeting of Shareholders
on May 12, 2005, the Board of Management of BMW AG approved a programme to buy
back shares via the stock exchange on September 20, 2005.

Under this programme, up to 20,232,722 shares of common stock i.e. up to 3% of
the share capital will be bought back. No decision has been made whether and to
what extent BMW AG, with the current 10 % authorisation, will buy back shares
over and above the level of 3%.

The shares are to be bought back for the purpose of a subsequent withdrawal from
circulation and a reduction of share capital.

The buy-back programme will be lead-managed by one or more investment banks or
credit institutions which will determine the timing of individual purchases
independently of, and without any influence being exerted by, BMW AG.

Further information will be made available during the course of the buy-back
programme at www.bmwgroup.com/ir.

BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
Petuelring 130
D - 80788 Munich

Further inquiry note:
Eckhard Wannieck, Corporate Communications,
Tel.: +49-89-382-24118, E-Mail: [email protected]

end of announcement euro adhoc 20.09.2005 11:43:55
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emitter: Bayerische Motoren Werke AG
Petuelring 130
D-80788 München
phone: +49(0)89 382 0
FAX: +49(0)89 382 24418
mail: [email protected]
WWW: http://www.bmwgroup.com
ISIN: DE0005190003, DE0005190037
indexes:
stockmarkets:
sector: Automotive Equipment
language: English

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