---

Bosch/Siemens Win Bid for Atecs

18 April 2000

Bosch/Siemens Win Bid for Atecs

    MUNICH, Germany, April 18 Bosch and Siemens, on April 14,
have won their bid to acquire Atecs Mannesmann.  The Mannesmann management
board supported by Vodafone Airtouch accepted the bid.  Mannesmann's
supervisory board will have its meeting next Monday to complete the deal.
Atecs will be operated as a parity-based joint venture by the two partners.
Both will make every effort to ensure the new company is a success story.  The
structure of the company will be tailored to meet the requirements of
antitrust authorities.
    Bosch and Siemens will finance the purchase price with current liquid
assets of both companies.  Siemens will merge its Automotive Systems Group
with VDO and Bosch will funnel its automation systems business into the
corresponding Atecs unit (Rexroth).  The leading market positions of the other
business divisions will be further increased and strengthened through
cooperations with their counterparts at Bosch and Siemens.