Strasbourg, France
October 2,  2001

Aventis and Schering AG have signed an agreement with Bayer AG on the acquisition of Aventis CropScience. Aventis holds a 76 percent interest in this business, while Schering AG, Berlin, holds 24 percent.

Under the terms of the agreement, which is subject to the approval of the relevant authorities, the enterprise value of Aventis CropScience will be set at around 7.25 billion euros including debt. The transaction is expected to close during the first quarter of 2002.

“The combined businesses of Aventis CropScience and Bayer will become one of the leaders in the agricultural industry,” said Horst Waesche, member of the Management Board of Aventis. “We are convinced that strategically, Bayer will be the best fit for Aventis CropScience.”

In November 2000, Aventis announced its intention to divest Aventis CropScience by the end of 2001 in order to focus on its pharmaceutical business. After reviewing different divestment options, Aventis has continued exclusive negotiations with Bayer since mid-July 2001. This agreement represents a decisive step in the strategic shift of Aventis into a pure-play pharmaceutical company. For Aventis, the expected decrease in the net debt - through the proceeds from the divestment as well as the deconsolidation of debt associated with CropScience - would mean additional  flexibility for the future development of its pharmaceutical business.

Aventis CropScience is a major crop protection company focusing on researching, developing and marketing innovative solutions that meet the needs of today’s farming: healthy crops, increased yields, improved crop and food quality. With 4 billion euros sales in 2000, Aventis CropScience employs about 15,300 people in more than 120 countries worldwide.

Aventis (NYSE: AVE) is dedicated to improving life through the discovery and development of innovative products. In 2000, Aventis generated group sales of € 22.3 billion and employed around 92,500 people in its Pharma and Agriculture businesses. Aventis was launched in December 1999 through the merger of Hoechst AG of Germany and Rhône-Poulenc SA of France. Corporate headquarters are in Strasbourg, France. For more information, please visit: www.aventis.com

Company news release
N3846