Payment of Dividends: Questions and Answers

1. Q: What dividend payments were distributed by ALTANA in 2007?

A: Following the proposal of the Management Board and Supervisory Board, the Annual General Meeting of ALTANA AG approved the following dividend payments on May 3, 2007:

1. a regular dividend of €1.30 per share for the business year 2006
2. a special dividend of €33.00 per share from the sale of ALTANA Pharma AG
3. a bonus dividend of €0.50 per share

The total dividend of €34.80 was paid in cash.

2. Q: When were the dividends paid?

A:  The Annual General Meeting of ALTANA AG, held on May 3, 2007, decided on the payment of all dividend amounts. Payment day was May 4, 2007 (= "Ex-Dividend Day"; cf. question 4).

3. Q: Were these dividend payments subject to tax?

A:  The dividend was subject to the general rules on the taxation of dividends as they apply to the shareholders concerned.

From the dividend paid to shareholders, the company must generally withhold and pay capital gains tax at 20%, plus the solidarity tax of 5.5% there on (21.1% in total). Natural persons liable to pay tax in Germany, whose shares are held as part of their private assets, are required to declare half the dividend amount as taxable revenues from capital assets (so-called "Halbeinkünfteverfahren"). The amount of tax to be paid will depend on individual tax rates; the capital gains tax deducted and paid by the company (including solidarity tax) will be credited against income tax owing or resp. refunded in the amount of an overpayment.

4. Q: How did the dividend affect the share price?

A: As the payment was mathematically included in the ALTANA share price, the share price was reduced by an amount approximately equal to the payment of €34.80 (ex-dividend day) on May 4, 2007.

5. Q: What share was entitled to the dividend payments?

A:  There is only one type of ALTANA share. The ISIN is: DE0007600801.

6. Q: How long must one have held shares to be qualified for the payment?

A:  There were no special preconditions to be met in order to qualify for the dividend payment. Shares hold on a depositary account after close of trading on May 3, 2007, i.e. on the day of the AGM, were entitled to the dividend payment.

7. Q: Why didn't ALTANA AG remain in the DAX but is now listed in the MDAX?

A: Due to the dividend payment following the sale of ALTANA Pharma and the resulting significantly reduced market capitalization, ALTANA's key corporate figures that are decisive for the composition of the German stock exchange indexes have changed. Consequently, the ALTANA share was withdrawn from the DAX index and included in the MDAX by Deutsche Börse effective as of June 18, 2007.

8. Q: Were ALTANA shares converted into new shares of ALTANA Chemie?

Q:  The dividend payment did not change anything about the ALTANA share as a security per se (e.g. no change in the ISIN). The company name has remained ALTANA AG.

9. Q: Why did ALTANA AG pay a special dividend?

A:  The announced special dividend was paid from the net gain of the sale of ALTANA Pharma AG, which was completed at the end of business year 2006. The purchase price was around €4.7 billion. The sale yielded a net gain of about €4.5 billion after deduction of transaction costs and book value. Given the company's intention to pay all proceeds from the sale to the shareholders, a special dividend of €33.00 per share was calculated.

10. Q: What was the bonus dividend for?

A:  In order to create an appropriate balance sheet structure for the remaining ALTANA AG as a pure specialty chemicals company a bonus dividend was distributed from retained earnings. This resulted in a bonus dividend of €0.50 per share.

11. Q: How many dividend-entitled shares did ALTANA AG have at the time of distribution?

A: ALTANA AG's share capital is divided into 140.4 million ordinary shares. At the time of the dividend payment the company currently owns some 4.4 million of those shares. That left about 136 million shares entitled to the dividend payments.

12. Q: Was there any change to the ALTANA AG shareholder structure?

A: The change in the index and the focus on specialty chemicals, triggered a change in the composition of the shareholders after May 4, 2007 compared to the constellation prior to the sale ofALTANA Pharma except the position of our majority shareholder.

Further information on the current shareholder structure may be obtained from this website www.altana.com in the Investor Relations section http://www.altana.com/shareholder_stucture.php.