EANS-Adhoc: PUMA AG Rudolf Dassler Sport / Irregularities committed by Greek Joint Venture Partner to affect PUMA AG's Consolidated Financial Statements

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Company Information

25.10.2010

AD HOC RELEASE PURSUANT TO § 15 WpHG

PUMA AG Rudolf Dassler Sport (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach

Irregularities committed by Greek Joint Venture Partner to affect
PUMA AG's Consolidated Financial Statements

Herzogenaurach, 25 October 2010 - PUMA AG's Management Board
announces that irregularities, discovered at its Joint Venture 'PUMA
Hellas S.A.' in Greece, will affect PUMA's consolidated financial
statements.

PUMA AG has initiated a comprehensive special audit by an independent
auditing firm, appointed a new local management in Greece and put a
halt to further irregularities. According to the preliminary findings
of the audit, it is suspected that the Greek joint venture partner,
along with members of the Greek local management, has committed a
series of criminal acts.

As most of the irregularities have occurred prior to the fiscal year
2010, PUMA will have to restate its prior-year financial statements
in line with IAS 8, i.e. adjust the 2009 comparative figures in the
2010 financial report. In total, the maximum extraordinary write-off
effect should not exceed pre-tax 115 million Euros and does not
affect the cash position. An estimated amount of up to 15 million
Euros should affect fiscal year 2010 with the remainder applying to
previous years.

Due to these irregularities and the general market situation in
Greece, the company is further planning a restructuring in Greece
that could lead to additional one-time charges of approximately 15
million Euros in the fourth quarter. As a consequence, it is likely
that one-time charges of up to 30 million Euros will be booked in the
fourth quarter of fiscal year 2010. A note to financial statements
will be included in the third quarter results to be released on 26
October 2010.

PUMA AG's Management and Supervisory Board have resolved to assert
all claims according to civil and criminal law against the Greek
Joint Venture minority partner and members of the local Greek
management.

Media Relations:

Ulf Santjer - Corporate Communications - +49 9132 81 2489 -
ulf.santjer@puma.com Kerstin Neuber - Corporate Communications - +49
9132 81 2984 -kerstin.neuber@puma.com

Investor Relations:

Klaus Bauer - Investor Relations - +49 9132 81 2303 -
klaus.bauer@puma.com Michael Lämmermann - Investor Relations - +49
9132 81 2260 - michael.laemmermann@puma.com

end of announcement euro adhoc
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ots Originaltext: Puma AG Rudolf Dassler Sport
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Ulf Santjer

Telefon: +49 (0)9132 81-2489

E-Mail: ulf.santjer@puma.com

Branche: Consumer Goods
ISIN: DE0006969603
WKN: 696960
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