Pfleiderer Authorizes Buy Back of 1 Million Shares

Neumarkt, Germany, July 2, 2008 --Pfleiderer plans to buy back up to 1 million shares of the company's stock by July 25.

This is approximately 1.87 percent of the company's outstanding shares.

The shares will be used for Pfleiderer stock option plans, or to make acquisitions.

The shares will be acquired exclusively via Xetra trading on the stock exchange. No more than 25 percent of the average daily trading volume on the 20 trading days prior to the purchase date may be purchased on any single day.