EANS-Adhoc: SAF AG / Decision of SAP AG to submit a voluntary public offer to the shareholders of SAF Simulation, Analysis and Forecasting AG

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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20.07.2009

Tägerwilen/Switzerland, 20 July 2009

SAP AG has informed SAF Simulation, Analysis and Forecasting AG ("SAF AG") (ISIN
CH0024848738) of its decision to announce to the shareholders of SAF AG a public
offer (cash offer) for the purchase of their shares against payment of cash
consideration (the "Offer"). The Offer will be made under certain conditions,
about which the shareholders will be informed, including the condition of
approval by the competent antitrust authorities.

In analogous application of the German takeover code (Wertpapiererwerbs- und
Übernahmegesetz), the offer document will be published shortly online at
http://www.sap.com/investor.

The two principal shareholder of SAF AG, Dr. Andreas von Beringe, president of
SAF's Board of Directors (Verwaltungsrat), and Prof. Dr. Gerhard Arminger, who
together hold a total of 2,094,130 shares in SAF (approx. 37.8% of the
outstanding share capital), have irrevocably agreed to accept such Offer for
all of their shares provided that certain conditions are met, including a
minimum offer price of EUR 10.50 per share.

The offer price will be at EUR 11.50 per share.

The Board of Directors of SAF AG will announce its reasoned opinion in due time
in analogous application of Section 27 of the German Takeover Code.

Further information is available at www.saf-ag.com.

end of ad-hoc-announcement
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About SAF AG
SAF Simulation, Analysis and Forecasting AG specializes in the development of
automated ordering and forecasting software for retailers and industrial
manufacturers. SAF deploys the demand chain management approach, which controls
replenishment planning based on consumer demand patterns. SAF software assists
users to realize substantial cost savings and optimizes general logistics
conditions through its simulation capabilities. As a result, significant
competitive advantages are achieved along the entire value chain: lower
inventories, improved product availability, and last, but not least, a higher
level of customer satisfaction.

SAF AG was established in 1996 by Dr. Andreas von Beringe and Prof. Dr. Gerhard
Arminger. SAF shares are listed at the official market (Prime Standard) at the
Frankfurt Stock Exchange (FWB). Today, the company employs approx. 100 people.
Consolidated sales revenues for fiscal year 2008, were approx. 13.4 million EUR
with consolidated profit of 2.1 million EUR according to IFRS statements. SAF's
products are distributed in many European countries as well as in the United
States. The company is headquartered in Tägerwilen, Switzerland. SAF also has a
subsidiary in the United States: SAF Simulation, Analysis and Forecasting
U.S.A., Inc., Grapevine, Texas and in Slovakia, Bratislava: SAF Simulation,
Analysis and Forecasting Slovakia s.r.o. with the focus on Nearshore-
Development.

Forward Looking Statements and Estimates
This information contains forward looking statements based on assumptions and
estimates of SAF's Management Board. Although we assume the expectations in
these forward looking statements are realistic, we cannot guarantee they will
prove to be correct. The assumptions may harbor risks and un-certainties that
may cause the actual figures to differ considerably from the forward looking
statements. Factors that may cause such discrepancies include, among other
things, risks that are mentioned in the annual report 2008. SAF does not plan
to update the forward looking statements, nor does it assume the obligation to
do so.

Further inquiry note:
Astrid Strömer
+41 (0)71 666 79 48
[email protected]

end of announcement euro adhoc
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emitter: SAF AG
High-Tech-Center 2 / Bahnstrasse 1
CH-8274 Tägerwilen
phone: +41 (0)71 666 79 48
FAX: +41 (0)71 666 79 40
mail: [email protected]
WWW: http://www.saf-ag.com
sector: Software
ISIN: CH0024848738
indexes: Prime All Share, Technologie All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Stuttgart, Düsseldorf, München
language: English

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