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Company Statement: Continental AG's Opinion Confirmed by Renowned Experts: Use of "Schaeffler Swaps" Illegal

( July 30, 2008, 17:12 GMT | Official Statement) -- ****************************************Hanover, July 30, 2008 - Analyses performed by renowned legal experts have emphatically confirmed Continental AG’s opinion that the Schaeffler Group has gained access to 36% of the Continental shares with the help of banks and derivative positions in contravention of reporting and notification requirements. In a comprehensive expert report, the renowned university professor Dr. Mathias Habersack, Chair of Civil, Commercial, Business and Comparative Law at the Eberhard Karls University in Tuebingen and member of the Board of Trustees of the Banking Law Association, designated the methods used by the Schaeffler Group, namely the entering into swap agreements, as a clear infringement of the reporting and notification provisions of the German Securities Trading Act and Securities Acquisition and Takeover Act....

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