23.11.2007 – 14:57

K+S Aktiengesellschaft

euro adhoc: K+S Aktiengesellschaft
Earnings Forecast
Depreciation of the US dollar against the euro lowers the operating earnings of the K+S Group by a further EUR 25 million
Corresponding reduction in the previous earnings forecast for EBIT I of b

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.

23.11.2007

The continued decline in the USD/EUR exchange rate to just under 1.50
USD/EUR has made it necessary to implement a further adjustment in 
the double-barrier options used by the K+S Group to hedge the US 
dollar. As a result of the restructuring, the average hedge rate, 
including premium payment, for 2007 will deteriorate from 1.26 
USD/EUR to about 1.33 USD/EUR. In addition, the current USD/EUR 
exchange rate will probably result in a higher decline in the value 
of outstanding US dollar receivables. We expect these two effects to 
reduce operating earnings by about EUR 25 million in total. There 
will be a corresponding decrease in the previous earnings forecast of
between EUR 300 million and EUR 310 million for 2007. Further 
follow-up hedging costs if the 1.50 USD/EUR mark is exceeded cannot 
be ruled out depending on how the US dollar evolves.

end of announcement                               euro adhoc 23.11.2007 14:16:18

Further inquiry note:

Christian Herrmann
Investor Relations
Telefon: +49(0)561-9301-1460
E-Mail: Christian.Herrmann@k-plus-s.com

Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / regulated dealing
Börse Hamburg / regulated dealing
Börse Stuttgart / regulated dealing
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Börse München / regulated dealing

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