Düsseldorf / Frankfurt/Main, December 11, 2006 — Shearman & Sterling advised Axel Springer AG in connection with the secondary placement of shares by the financial investor Hellman & Friedman, as well as the application for the admission of shares of the company, which have not been listed so far.

After the expiration of the subscription period on December 6, 2006, 3,611,051 shares of Axel Springer AG (including additional allocation) were allocated at a price of €122.00 per share.  The transaction volume thus amounts to €441 million.  The shares were subscribed almost exclusively by institutional investors in Germany and abroad.  The free float will amount to 25.8%.

The following attorneys advised Axel Springer AG on the secondary placement of shares and the preparation of the securities prospectus: Hans Diekmann (partner, Capital Markets/Corporate, Düsseldorf), Matthias Decker (associate, Capital Markets/Corporate, Düsseldorf), Susanne Strelau and Marc Plepelits (both associates, Capital Markets, Frankfurt).

For additional information contact:
Marcus Brans | Düsseldorf | T +49.211.17888.907 |