WHITE PLAINS, N.Y., July 9 /PRNewswire/ -- The following release was issued today by Thomas M. Skelton and Richard W. Cohen of Lowey Dannenberg Cohen & Hart, P.C.: UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK In re BAYER AG SECURITIES LITIGATION File No. 03 CV 1546 (WHP) CLASS ACTION This Document Relates To: ALL ACTIONS. TO: ALL PERSONS OR ENTITIES WHO OR WHICH: FROM AUGUST 4, 2000 THROUGH AND INCLUDING FEBRUARY 21,2003: (A) PURCHASED OR OTHERWISE ACQUIRED ORDINARY SHARES OF BAYER AG (Ticker: BAY GR) ON THE U.S. OVER-THE-COUNTER MARKET OR PURCHASED AMERICAN DEPOSITORY RECEIPTS (ADRS) OF BAYER AG (Pink Sheets: BAYRY) ON THE NEW YORK STOCK EXCHANGE, REGARDLESS OF THE PURCHASER'S COUNTRY OF RESIDENCE AT THE TIME OF PURCHASE; OR (B) PURCHASED OR OTHERWISE ACQUIRED ORDINARY SHARES OR ADRS OF BAYER AG ON ANY OTHER STOCK EXCHANGE AND THE PURCHASER, OR BENEFICIAL OWNER, WAS A RESIDENT OR CITIZEN OF THE UNITED STATES AT THE TIME OF PURCHASE. This Summary Notice is given pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (the "Court") dated June 20, 2008 to advise you of a proposed settlement reached in this Class Action between Lead Plaintiff and Defendants for $18,500,000 (Eighteen Million Five Hundred Thousand Dollars) and settlement hearing in the above-captioned action. The Second Amended Complaint in this Litigation alleged that from August 4, 2000 to August 8, 2001, Defendants publicly misrepresented the prospects for Bayer's cholesterol-lowering drug, Baycol, while failing to disclose serious health risks, which led Bayer to withdraw Baycol on August 8, 2001. The Lead Plaintiff also alleged that from August 8, 2001 to February 21, 2003, Bayer misrepresented its prior knowledge of Baycol's dangers and understated its potential liability for claims from users and purchasers of Baycol. Lead Plaintiff claimed that as a result of these alleged material misrepresentations and omissions, the market price of Bayer securities was artificially inflated during the Class Period. Lead Plaintiff further alleged that the market price for Bayer securities fell following publication of an article in the New York Times concerning Baycol on February 22, 2003, causing investors to incur losses due to violations of the federal securities laws. There has been no trial in this action, and there have been no findings of liability or fault. The Defendants have denied, and continue to deny, all allegations of wrongdoing or liability. A hearing will be held by the Court at 2 p.m. on September 26, 2008 in Courtroom 11D, United States District Court for the Southern District of New York, United States Courthouse, 500 Pearl Street, New York, New York. The purpose of this hearing will be, among other things to determine: (i) whether the Settlement should be approved as fair, reasonable and adequate and dismissing the claims asserted by Lead Plaintiff and all Class Members in the Litigation against Defendants with prejudice; (ii) whether the Plan of Allocation is fair and reasonable and should be approved; and (iii) whether to approve Lead Counsel's application for an award of attorneys' fees and payment of costs and expenses and Lead Plaintiff's application for reimbursement of out-of-pocket expenses. If you have not received a copy of a detailed printed Notice of Pendency and Settlement of Class Action and/or Proof of Claim and Release, you may obtain a copy by contacting the Administrator at: Analytics, Inc. P.O. Box 2003 Chanhassen, MN 55317-2003 Tel. 1-877-797-5732 http://www.bayeragsecuritieslitigation.com/ or the following law firm serving as Lead Counsel for the Class: LOWEY DANNENBERG COHEN & HART, P.C. Thomas M. Skelton, Esq. Richard W. Cohen, Esq. One North Broadway White Plains, New York 10601 Tel: (914) 997-0500 Fax: (914) 997-0035 If you from August 4, 2000 through and including February 21, 2003 (a) purchased or otherwise acquired ordinary shares of Bayer AG on the U.S. Over-the-Counter market or purchased American Depository Receipts (ADRs) of Bayer AG on the New York Stock Exchange, regardless of the purchaser's country of residence at the time of purchase; or (b) purchased or otherwise acquired ordinary shares or ADRs of Bayer AG on any other stock exchange and the purchaser, or beneficial owner, was a resident or citizen of the United States at the time of purchase, you may be a member of the Class. Excluded from the class are the defendants, their subsidiaries, affiliates, and any entity in which any defendant has a controlling interest, their officers and directors, and the immediate family members (parents, spouses, siblings, and children) of the individual defendants. If you are a member of the Class you will be bound by the Settlement, all orders and judgments in the Litigation unless you request exclusion from the Class in writing and your request is postmarked on or before August 20, 2008. If you are a member of the Class and wish to share in the fund created by the Settlement, you must file a proper Proof of Claim on or before November 25, 2008. PLEASE NOTE: IF YOU FAIL TO FILE A PROPER PROOF OF CLAIM FORM, YOU WILL NOT SHARE IN THE SETTLEMENT BUT YOU WILL BE BOUND BY THE FINAL JUDGMENT OF THE COURT. PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE FOR INFORMATION. Dated: June 20, 2008 BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK DATASOURCE: Lowey Dannenberg Cohen & Hart, P.C. CONTACT: Thomas M. Skelton, or Richard W. Cohen, +1-914-997-0500, fax, +1-914-997-0035, both of Lowey Dannenberg Cohen & Hart, P.C. Web site: http://www.lowey.com/ http://www.bayeragsecuritieslitigation.com/

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