Bayer Spinoff To Be Named Lanxess

Germany-based Bayer AG has chosen Lanxess as the permanent name for NewCo, a recently formed
company comprised of certain parts of Bayer Chemicals and Bayer Material Science
World News,
TW, December 2003)

“We believe that the name is goal-oriented and forward-looking,” said Axel C. Heitmann,
Ph.D., CEO designate of Lanxess. “This name is a combination of the French word lancer, meaning to
set in motion, and the English word success. It conveys our credo: We are aiming for success, as
quickly as possible.”

Named to Lanxess’s Management Board are: Heitmann; Ulrich Koemm, Ph.D.; Matthias Zachert;
Bruce Olson; and Martin Wienkenhover, Ph.D. The company’s formation is largely complete. Bayer
expects Lanxess to be virtually independent by July 1, and expects stock market placement by early

April 2004