Heidelberger Druckmaschinen AG Successfully Completes Placement of 260 Million Euro Convertible Bond

Heidelberger Druckmaschinen AG (Heidelberg), the world's leading solution provider for the print media industry and the global leader in sheetfed printing presses, announces the pricing of its seven-year 260 million Euro convertible bond. The bond has a coupon of 0.875 percent and a conversion premium of 50 percent. The convertible bond cannot be called for the first four years, and is callable thereafter subject to a 130 percent trigger. Holders have an option to redeem the bond at the fifth anniversary. The bond issuer is Heidelberg International Finance B.V. and the bond will be guaranteed by Heidelberg. Heidelberg will apply for the listing of the bond on the Luxembourg Stock Exchange. Listing is expected to occur in March 2005.

Key data:
ISIN	XS0212139181
Issue size	Euro 260 million
Term	7 years
Expected settlement date	February 9, 2005
Issue price	100 percent
Redemption price	116.28 percent
Conversion price	Euro 39.63
Coupon	0.875 percent
Conversion premium	50 percent
Yield to maturity	3.00 percent
Over-allotment option	up to Euro 20 million aggregate principal amount exercisable at issue price until February 7, 2005
Stabilisation/FSA

For further information:
Heidelberger Druckmaschinen AG
Investor Relations
Dirk Kaliebe
Tel: +49 (0)6221 - 92 6020
Fax: +49 (0)6221 - 92 6061
E-Mail: dirk.kaliebe@heidelberg.com