Düsseldorf, May 17, 2006 - Shearman & Sterling advised Allianz Capital Partners Management GmbH (ACP), a wholly owned subsidiary of Allianz AG and responsible for private equity investments within the Allianz group, on the acquisition of a 65 percent stake in MAN Roland Druckmaschinen AG (MAN Roland) from MAN AG (MAN).

Upon closing ACP and MAN will establish a joint-venture acquisition vehicle, which will be held by an affiliate of ACP (65 percent) and MAN (35 percent). Closing of the transaction is - inter alia - subject to clearance by certain competent merger control authorities.

ACP and MAN intend to further develop MAN Roland, the world´s second largest manufacturer of printing units and service provider in this area, and to consummate an IPO in several years.

ACP was advised by partners Georg F. Thoma (M&A, Düsseldorf), Dr. Harald Selzner (M&A, Düsseldorf), Dr. Andreas Diem (European Finance, Munich), Reinhard Stockum (Tax, Frankfurt) and Dr. Thomas Nägele (IP, Mannheim), counsel Dr. Kerstin Prange (Labor Law, Düsseldorf) as well by the associates Dr. Martin Neuhaus, Dr. Judith Eisenberg, Sebastian Horz, Stefan Lieck, Anja Dickgreber (all M&A, Düsseldorf), Winfried Carli (European Finance, Munich), Christian Engelhardt (IP, Mannheim), Aline Sellien (Labor Law, Mannheim) and Dr. Christina Malz (Antitrust, Mannheim).