March 30, 2006

Overallotment option for Bayer Mandatory Convertible Bond fully exercised

Leverkusen - One day after the successful placement of the Bayer Mandatory
Convertible Bond, the overallotment option ("Greenshoe") of Euro 300 million
has been fully exercised. "We are pleased that the bond transaction was so well
received and the bookrunners were therefore able to proceed very quickly," said
Bayer AG CFO Klaus Kühn.

With a total size of Euro 2.3 billion the transaction is the largest mandatory
convertible bond placement in Europe so far.


Forward-looking statements

This announcement contains forward-looking statements based on current
assumptions and forecasts made by Bayer Group management. Various known and
unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation, development
or performance of the company and the estimates given here. These factors
include those discussed in the annual and interim reports of Bayer AG to the
Frankfurt Stock Exchange and in our reports filed with the SEC. Bayer AG and
Bayer Capital Corporation B.V. do not assume any liability whatsoever to update
these forward-looking statements or to conform them to future events or
developments.

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