SAP Announces Timeline

The resolution of the May 9, 2006 Annual General Meeting of Shareholders to increase the Company’s subscribed capital from corporate funds (retained earnings and APIC) became effective when it was entered in the commercial register.
For each share they already hold, SAP AG shareholders will receive three additional shares (“bonus” shares) after the close of stock exchange business on Wednesday, December 20, 2006. The Company’s stock exchange listing will be amended accordingly with effect from December 21, 2006. The measure will increase subscribed capital from the current level of approximately Euro 316.9 million to approximately Euro 1,267 million, and the Company will be issuing some 950 million new shares. The effect will be to quadruple the number of shares outstanding, but each single share will be worth a quarter of the old value.
The new shares resulting from the subscribed capital increase will automatically be credited to shareholders’ share accounts. Shareholders themselves need take no action. The new shares will qualify for dividend with effect from the beginning of fiscal year 2006. The aim of the measure is to make SAP stock more attractive, especially for individual shareholders.

Source: SAP AG