On 21 August 1996 the general meeting of EMS-CHEMIE HOLDING AG adopted a motion for reduction of the share capital by CHF 1'369'250.-- to CHF 30'000'000.-- through the repurchase of 27'385 bearer shares. For this purpose the company had previously acquired OTC options at market rates for the purchase of the corresponding number of bearer shares with a purchase price of CHF 5'050.--.
