EANS-Adhoc: Software AG / Software AG reports on the current status of the valuation process in relation to the merger of IDS Scheer AG into Software 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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26.04.2010

In connection with the contemplated merger, Ernst & Young GmbH
Wirtschaftsprüfungsgesellschaft, having been retained by Software AG and IDS
Scheer AG, has determined the anticipated values (capitalised earnings value
(Ertragswert) plus special values (Sonderwerte)) of Software AG and IDS Scheer
AG as of 8 July 2010 (date of the general meeting of IDS Scheer AG) based on the
"Principles for the Performance of Business Valuations (IDW S 1 as of 2008)"
(Grundsätze zur Durchführung von Unternehmensbewertungen (IDW S 1 i.d.F. 2008))
as follows:

Software AG: enterprise value million EUR 3,934.2; value per Software AG-share
EUR 138.96
IDS Scheer AG: enterprise value million EUR 540.3; value per IDS Scheer-share
EUR 16.74.

The valuation is preliminary and may change, in particular (without limitation)
if, until completion of the valuation process, significant valuation parameters
such as the market environment, the economic situation of the companies or the
interest level unexpectedly change significantly. This announcement does not
contain any statement with regard to an expected result of the merger audit by
the court appointed auditor whose audit has not yet been completed.

Today, the Management Board of Software AG has discussed the current status of
the valuation process and takes the view that significant changes are not to be
expected. The Management Boards of both companies presently intend to conduct
the negotiations regarding the merger exchange ratio based on the values of the
companies as determined in accordance with IDW S 1. The final decision of the
Management Board and the Supervisory Board of Software AG on the merger based on
the final valuation and the results of the negotiations with IDS Scheer AG will
be taken presumably end of May 2010.

The Management Board of Software AG will provide further information on the
contemplated merger at the occasion of the publication of the first quarter
results of the business year 2010 at the press conference (27 April 2010, 11:00
CEST in German) and at the analyst conference (27 April 2010, 13:00 CEST in
English).

Dial-in details for the analyst conference are published on the website of
Software AG at
http://www.softwareag.com/corporate/inv_rel/ircalendar/default.asp.

Further inquiry note:
Otmar F. Winzig
VP Investor Relations & Compliance
Tel.: +49 (0) 6151 92-1669
E-Mail: [email protected]
end of announcement euro adhoc
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issuer:   Software AG
          Uhlandstr. 12
          D-64297 Darmstadt
phone:    +49 (0)6151 92 1899
FAX:      +49 (0) 6151 92 1933
mail:     [email protected]
WWW:      http://www.softwareag.com
sector:   Software
ISIN:     DE0003304002
indexes:  TecDAX, CDAX, HDAX, Prime All Share, Technology All Share

stockmarkets: free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, official
dealing: Frankfurt
language: English

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