Directors' Dealings

On October 30, 2004 the German Law for the Improvement of Investor Protection (AnsVG) has come into force. This law includes a new, substantially expanded version of Section 15a of the German Securities Trading Law (WpHG).

Accordingly, any purchase or sale of shares in BERU AG made by any person with management duties at BERU AG is to be disclosed by us if the total value of the transaction(s) reaches €5,000 by the end of a calendar year. For this purpose the directors’ notification is necessary and required by law within a period of five working days. Furthermore, notification is to be sent within the same period to the German Financial Services Authority (BaFin). The notification duty exists if the total value of the transactions of a person with management duties and of any persons in a close relationship with this person (see below) reaches €5,000 by the end of the calendar year.

The statutory disclosure obligation applies also to persons who are in a close relationship with a person with management duties (spouses or registered partners, dependent children and other relatives if they have been living in the directors’ household for at least 12 months, as well as legal persons or entities that are controlled by one of the aforementioned persons). Offences can lead to fines of up to €100,000.

Further information can be found on the website of the German Financial Services Authority (BaFin) at:

http://www.bafin.de

The relevant transactions are listed as follows:

Disclosure of transactions by leading persons pursuant to Section 15a of the German Stock Corporation Law

Person involved	Issuer	Reason for the disclosure duty	Details of transaction subject to disclosure	Date of disclosure
Hans Houben, Würselen	BERU AG (WKN 507210 and ISIN DE 0005072102)	Mr. Hans Houben, of Würselen, is Head of the Development department, and therefore a person with a management function at BERU AG, Mörikestr. 155, 71636 Ludwigsburg, Germany.	Mr. Hans Houben accepted the takeover offer and on January 20, 2005 sold a total of 190 shares in BERU AG for a price of EUR 67.50 per share outside the stock exchange.	25.01.2005
Josef Schimmele, Bretzfeld	BERU AG (WKN 507210 and ISIN DE 0005072102)	Mr. Josef Schimmele, of Bretzfeld, is department manager of technical service, and therefore a person with a management function at BERU AG, Mörikestr. 155, 71636 Ludwigsburg, Germany.	Mr. Josef Schimmele accepted the takeover offer and on January 21, 2005 sold a total of 500 shares in BERU AG for a price of EUR 67.50 per share outside the stock exchange.	26.01.2005

In the running financial year, there are no current notes available about transactions by leading persons pursuant to Section 15a of the German Stock Corporation Law (WpHG).