Continental AG: First Steps of Refinancing Package Successfully Completed

Continental AG / Contract19.12.2009 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Continental and its lending banks have amended the Facility Agreement onthe syndicated loans Continental took up for financing the acquisition ofSiemens VDO. With regard to the financial covenants agreed therein, theamendment provides for a ratio of financial indebtedness and EBITDA on theone hand and EBITDA to net interest on the other hand which is, in eachcase, more favourable to Continental than in the existing FacilityAgreement. In turn, Continental has committed to pay, in particular, ahigher margin as well as to provide certain security. In addition, theparties have agreed on amendments of the Facility Agreement which aremarket standard in order to reflect the recent changes in the rating ofContinental.At the same time a majority of the banking syndicate has committed, via aso-called Forwart Start Facility, to provide Continental with funds of upto Euro 2.5 bn for settlement of the Euro 3.5 bn tranch maturing in August2010 under the terms of the Facility Agreement. The amount actually drawnby Continental under the Forward Start Facility will mature, simultaneouslywith the remaining tranches of the Facility Agreement, in August 2012. TheForward Start Facility will only come into effect if Continental has raisedgross proceeds of at least Euro 1 bn by a share capital increase. Otherterms and conditions of the Forward Start Facility correspond to the termsand conditions of the Facility Agreement as now amended.19.12.2009 Ad hoc announcement, Financial News and Media Release distributed by DGAP.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language: EnglishCompany: Continental AG Vahrenwalder Straße 9 30165 Hannover DeutschlandPhone: +49 (0)511 938-1068Fax: +49 (0)511 938-1080E-mail: ir@conti.deInternet: www.conti.deISIN: DE0005439004WKN: 543900Indices: MDAXListed: Regulierter Markt in Frankfurt (Prime Standard), Hannover, Stuttgart, Hamburg; Freiverkehr in Berlin, Düsseldorf, München; Terminbörse EUREX; Foreign Exchange(s) Luxembourg, SWX End of News DGAP News-Service ---------------------------------------------------------------------------