BASF Completes EUR500 Million Share Buyback Program and Plans to Repurchase Shares for a Further EUR500 Million

LUDWIGSHAFEN, Germany, November 2  /PRNewswire-FirstCall/ -- At the end of October 2006, BASF (NYSE:BF) completed its EUR500 million share buyback program that it announced in February 2006. Under the program, a total of 7.9 million shares was bought back at an average price of EUR63.11.

The Board of Executive Directors of BASF Aktiengesellschaft, Ludwigshafen, decided on November 2, 2006, to continue with the company's share buyback program, and to repurchase shares for a further EUR500 million. The buyback can start immediately and is on the basis of the authorization decided by the Annual Meeting on May 4, 2006.

The aim of buying back shares is to limit the equity ratio and increase earnings per share. The shares will be cancelled, thus reducing the share capital of BASF Aktiengesell­schaft accordingly.

BASF has reduced the number of outstanding shares by about 22 percent between the start of the share buyback program in 1999 and the end of October 2006.

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF's intelligent system solutions and high-value products help its customers to be more successful. BASF develops new technologies and uses them to open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has over 95,000 employees and posted sales of more than EUR42.7 billion in 2005. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Further information on BASF is available on the Internet at http://www.basf.com/.

  Daniel Smith
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  BASF Aktiengesellschaft
  67056 Ludwigshafen, Germany
  http://www.basf.com/
  Corporate Media Relations
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DATASOURCE: BASF AG



CONTACT:  Daniel Smith, Phone: [phone], Fax: [phone],

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