December 29, 2004
Bayer establishes timetable for stock-market listing:

Lanxess to be placed on the stock market on January 31, 2005


This news release is neither an offer to sell nor an invitation to purchase any
type of securities. In particular, it is not an offer for the sale of
securities in the United States. Securities may not be offered or sold in the
United States except with prior registration or with an exemption from
registration under the U.S. Securities Act of 1933, as amended. Neither LANXESS
AG nor Bayer AG intends to register any securities of LANXESS AG in the United
States or to conduct a public offering of securities in any jurisdiction,
including the United States.


Leverkusen
- Bayer AG expects to launch the new chemical company Lanxess on the
stock market on January 31, 2005. The corresponding listing memorandum has been
submitted to the Frankfurt Stock Exchange. Current plans call for the spin-off
to be entered into the commercial register for Bayer AG on January 28. Trading
of the company's shares could then begin on Monday, January 31.

At the Extraordinary Stockholders' Meeting on November 17, the stockholders of
Bayer AG voted by a broad majority of the share capital represented at the
meeting to place the new chemical company on the stock market by way of a
spin-off. Bayer stockholders will be granted one Lanxess share for each 10
Bayer shares they hold, the number being determined by the number of Bayer
shares held by each stockholder on the evening of the day on which the spin-off
is entered into the commercial register for Bayer AG.

The spin-off of Lanxess is part of Bayer's strategic realignment process.
Lanxess currently operates as a subgroup of Bayer comprising most of the
chemicals activities and about one third of the polymers business. Bayer will
concentrate in the future on the primarily innovation- and growth-driven core
businesses of health care, nutrition and high-tech materials.


Forward-looking statements<br/>
This news release contains forward-looking statements based on current
assumptions and forecasts made by the managements of Bayer AG and LANXESS AG.
Various known and unknown risks, uncertainties and other factors could lead to
material differences between the actual future results, financial situation,
development or performance of Bayer AG or LANXESS AG and the estimates given
here. These factors include those discussed in Bayer AG's annual and interim
reports to the Frankfurt Stock Exchange and in its reports filed with the U.S.
Securities and Exchange Commission (including its Form 20-F). Bayer AG and
LANXESS AG assume no liability whatsoever to update these forward-looking
statements or to conform them to future events or developments.

















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