euro adhoc: P&I Personal & Informatik AG / Buybacks / P&I AG Resolves Share Buy-back Program

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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23.10.2008

The management board of P&I Personal & Informatik AG has passed a
resolution today to initiate a share buy-back program. Shares in the
company in the amount of up to four per cent of the share capital (up
to 308,000 shares) are to be acquired via the stock exchange. The
maximum total acquisition price (without ancillary acquisition
costs), however, is limited to EUR 4,500,000.00. The management board
intends to cancel the own shares acquired under the share buy-back
program with the consent of the supervisory board, and thereby to
reduce the share capital. However, the management board reserves the
right to use own shares in full or in part for another purpose within
the scope of the authorisation granted by the general meeting on 2
September 2008.

The program is based on the authorisation pursuant to section 71
para. 1 no. 8 of the German Stock Corporation Act (Aktiengesetz,
AktG) granted to the management board by the general meeting of 2
September 2008, which entitles the management board to acquire own
shares up to a maximum total of 10 per cent of the share capital
existing at the time the resolution was passed by the general meeting
with the consent of the supervisory board up until 1 March 2010. The
acquisition price per share may neither exceed the price of the
company´s share determined in the opening auction of the XETRA
trading system at the Frankfurt Stock Exchange on the acquisition
date (plus costs and fees) by more than 10 per cent, nor lie below
such price by more than 20 per cent.

The buy-back will be carried out by the designated sponsor, Close
Brothers Seydler AG, Frankfurt am Main, Germany, and in accordance
with Commission Regulation (EC) No. 2273/2003 of 22 December 2003. In
this context, it may be possible that the acquisition volume will
exceed the threshold value of 25 per cent (however, in no case 50 per
cent) of the average daily trading turnover due to the low liquidity
of the shares of P&I Personal & Informatik AG. This average daily
trading turnover is to be derived from the average daily trading
volume in the month preceding this public announcement of the share
buy-back program, and thus determined for the approved term of the
buy-back program.

P&I Personal & Informatik AG intends to start the program immediately
and end it on 31 March 2009 at the latest. The transactions are
announced to the public pursuant to Commission Regulation (EC) No.
2273/2003 of 22 December 2003; P&I Personal & Informatik AG will
provide information on the progress of the share buy-back under
http://www.pi-ag.com (Link: http://www.pi-ag.com/jsp/epctrl.jsp?mod=p
iag000000&cat=piag000531&pri=piag&lng=1).

end of announcement euro adhoc
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ots Originaltext: P&I Personal & Informatik AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Andreas Granderath

Telefon: +49(0)611 7147 267

E-Mail: agranderath@pi-ag.com

Branche: Software
ISIN: DE0006913403
WKN: 691340
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade