OTE0009 5 WB 0208 OTB0020 WA 25.Nov 04
euro adhoc

euro adhoc: K+S Aktiengesellschaft / K+S adjusts US-Dollar hedging / Positive outlook for 2005 unchanged (E)

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

Altered market conditions have induced K+S Group to modify the US-Dollar hedging based on range options. All outstanding options for the years 2005, 2006 and 2007 now carry upper knock-outs of at least 1.40 USD/EUR. As a consequence of this restructuring, the weighted average hedging rate incl. premium payments will increase from 1.06 USD/EUR to 1.11 USD/EUR for the year 2005. For the years 2006 and 2007, net hedging rates will remain unchanged at 1.04 USD/EUR and 1.02 USD/EUR, respectively.

For the year 2005, the board of executive directors of K+S AG is unalteredly confident for the earnings perspective. Besides the commenced efficiency enhancements, this outlook is based on strong demand, especially in the potash and magnesium business segment; in these markets, price increases are already announced and further increases are likely.

Further inquiry note:
Christian Herrmann
Tel.: +49 (0)561 9301 1460
E-Mail: christian.herrmann@k-plus-s.com

end of announcement euro adhoc

emitter: K+S Aktiengesellschaft
Bertha-von-Suttner-Straße 7
D-34111 Kassel
phone: +49 (0)561 9301 1687
FAX: +49 (0)561 9301 2425
mail: joerg.bettenhausen@k-plus-s.com
WWW: http://www.k-plus-s.com
ISIN: DE0007162000
sector: Chemicals
language: English


OTE0009 2004-11-25/17:21