Statement Made by the Continental Executive Board Chairman Dr. Karl-Thomas Neumann

HANOVER, GERMANY – August 3, 2009: Our discussions today lasted longer than expected. But today we laid the necessary groundwork so that this company will continue to have a stable financial foundation in the future.

The Supervisory Board today approved a considerable capital increase, enabling us to improve our capital structure substantially. We want to gather additional equity as soon as possible by issuing new shares.

We, the Executive Board of Continental, are very pleased that we have received this support from the Supervisory Board. All of our stakeholders – our employees, our owners, our customers and suppliers, as well as our creditors – benefit from this decision.

This capital increase provides us not only with greater entrepreneurial flexibility. It also gives all of us a bit more security. And ladies and gentlemen, in such turbulent times as we are experiencing at present, security is indeed very valuable.

The Executive Board and Supervisory Board made the decision that is in the interest of both companies. If Continental can operate with a strong financial foundation, Schaeffler benefits as well.

On the way to this decision, there were some unusual and very disappointing developments, which I would prefer not to comment upon here. These events, however, make it very, very difficult for me to work together with our major shareholder in a spirit of trust in the long term. In spite of that, I feel a very personal commitment to Continental and its 130,000 employees. I wish to thank this superb Continental team for the outstanding achievements under extremely difficult conditions. We are headed in the right direction, as the latest quarterly figures show. And Continental will resolutely continue on this course.