In April 2002 the EMS-INTERNATIONAL FINANCE (Guernsey) Ltd., a 100%
subsidiary of EMS-CHEMIE HOLDING AG, issued on the SIX Swiss Exchange, a
2.5% convertible bond on LONZA registered shares with a volume of CHF 350 million,
for a term of 8 years, which has now reached maturity.
During the maturity time, EMS already repurchased a large part of the bond in the
market. The remaining CHF 157 million will be repaid by EMS today in cash. A
conversion into LONZA shares was not carried out as the current market price of the
LONZA shares is lower than the conversion price of CHF 125.
EMS will continue to manage its holding in LONZA (corresponding to a 2.6% share in
LONZA) within the EMS securities portfolio.