Jerini AG Sets IPO Offer Price at 3.20 per share.

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Berlin, November 1, 2005. Jerini AG together with Credit Suisse First Boston and Deutsche Bank as Joint Global Coordinators and Joint Bookrunners has set the offer price of its initial public offering at 3.20 per share. The first day of trading is set for Tuesday, November 1, 2005 on the Prime Standard of the Frankfurt Stock Exchange. "We are pleased that the IPO of Jerini has been completed successfully. With the proceeds of the offering we will develop Jerini towards a modern pharmaceutical company. Our lead product Icatibant will serve as a basis for this" said Jens Schneider-Mergener, founder and CEO of Jerini. In the IPO, a total of 15.5 million shares from a capital increase and approx. 0.6 million additional shares from the over-allotment option have been allocated. Before exercise of the greenshoe option and the corresponding potential capital increase to cover over-allotments, the volume of the placement will amount to 49.6 million with a free float of 26.5 percent. The company will receive the entire net proceeds from the offering. The shares have been placed in a public offering in Germany and a private placement with international investors outside of Germany and the United States. In Germany, approximately 6 percent of the shares allocated were placed with retail investors and 40 percent with institutional investors. Outside Germany, institutional investors received approximately 54 percent of the shares allocated. Retail allocations were made in compliance with the rules for the allocation of equity offerings to retail investors on the basis of uniform criteria ("standardized allocations") for all syndicate banks and their affiliates: All retail investors who have placed orders will be allocated shares reflecting their respective order size. Pre-IPO investors have agreed to a six-month lock-up period for their previous held shares, and Jerini management has a twelve-month lock-up period. The Deutsche Bank will act as stabilization manager on behalf of the lead banks. Credit Suisse First Boston and Deutsche Bank lead the IPO as Joint Global Coordinator and Joint Bookrunners in the IPO and were supported by Fortis Bank and West LB as Co-Lead Managers. About ...