BMW Group sees ongoing positive development

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News of May 22, 2002

BMW Group sees ongoing positive development

Munich - Following a successful course of business throughout the first quarter, the BMW Group is looking at further improvement of deliveries, sales and profits in 2002. In this period of strength, Prof. Dr.-Ing. Joachim Milberg handed over the Chairmanship of BMW AG at this year's Annual General Meeting to Dr. Helmut Panke, previously Board Member Finance.

The first quarter 2002 confirms the Company's successful policy and development, with deliveries amounting to 260,462 units (plus 17.4 per cent over the same period last year), sales of Euro 10.8 bill (plus 14.0 per cent over the same period last year) and a profit generated in ordinary business of Euro 1,011 mill (plus 5.9 per cent over the adjusted figure for the previous year).

This positive development is continuing into the second quarter 2002: As of April, 355,303 BMWs and MINIs were delivered to customers, an increase over the same period last year by more than 19 per cent. Delivering 94,827 cars to customers worldwide in April, the BMW Group outperformed the corresponding figure in April of the previous year by 24.7 per cent. The motorcycles segment also reported double-digit growth in the first four months by 14 per cent to 35,998 units.

Prof. Dr.-Ing. Joachim Milberg: "The good first four months confirm our expectations that we will succeed in 2002 in continuing the positive development of business in the previous year. Assuming there will be no unexpected deterioration of economic conditions, the BMW Group is confident that deliveries, sales and profits will increase even further. For the first time we have the opportunity in 2002 to deliver more than one million BMW and MINI cars to customers the world over. "

The BMW Group will continue its product and market offensive in 2002. The new BMW 7 Series will play an important role in this context: After being introduced in major European markets in November 2001, the new 7 Series entered the market in the USA and Canada, Great Britain and Japan at the beginning of this year. Apart from further variants of the 7 Series with diesel engines, the successor to the Z3 will also be launched this autumn, being introduced first in the US market, then - in spring 2003 - in Europe.

MINI sales so far amounting to 38,967 units in the first four months show that MINI has already established its position as a premium brand. In response to great demand in the market, production originally limited to 100,000 units a year will now be increased by 15 - 20 per cent. Starting in 2003, there will also be MINIs with diesel engines, the agreement being concluded with Toyota a few days ago to supply 1.4-litre diesel power units for the MINI.

With deliveries amounting to 905,657 units, sales of Euro 38.5 billion and profits from ordinary business activities of Euro 3,242 million, 2001 was the best year of business so far in the history of the BMW Group.

The Board of Management and the Supervisory Board advise the Annual General Meeting to use the balance sheet profit of BMW AG of Euro 350 million for payment of a dividend increased by 13 per cent to Euro 0.52 per common stock and a dividend increased by 12.5 per cent to Euro 0.54 per preferred stock, each with a nominal value of Euro 1.- on the equity entitled to dividends (622.2 million common stock and 49.6 million preferred stock, each at a nominal value of Euro 1.-).

With Dr. Helmut Panke being appointed Chairman of the Board of Management of BMW AG, Stefan Krause is taking over the position of Board Member Finance. Krause was previously the Director of European Sales and held various functions within the BMW Group in Controlling and as the Director of Financial Services in North and South America.

(May 16, 2002)

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