Heidelberg Management Board Decides to Buy Back up to Five Percent of the Company's Shares

The Management Board of Heidelberger Druckmaschinen
Aktiengesellschaft (Heidelberg) (FWB: HDD) today decided to initiate a
second share buyback program. Between November 7, 2006 and January 19,
2008 at the latest, the company intends to acquire shares amounting to
up to five percent of its capital stock (up to 4,152,535 shares).

The repurchased shares are earmarked for capital retirement and
employee share participation programs. Additionally, they may be
offered for purchase to individuals who either are or were employed in
the Company or an enterprise affiliated with the Company.

General conditions of the share buyback

Shares will be repurchased exclusively through the stock exchange.
The price per share (excluding incidental acquisition expenses) paid
by Heidelberger Druckmaschinen Aktiengesellschaft must in this program
not deviate by more than ten percent in either direction from the
share's average closing price on the XETRA or an equivalent successor
system on the Frankfurt Stock Exchange during the last five trading
days prior to entering into the purchase commitment.

Heidelberger Druckmaschinen Aktiengesellschaft has instructed the
financial institution repurchasing the shares to comply with the terms
of trade detailed in Article 5 of Commission Regulation (EC) No.
2273/2003 of December 22, 2003. In particular, it may not buy back
more than 25 percent of the average trading volume for a given day.
The company will not acquire shares at a price above that of the last
independent transaction or (if this is higher) above that of the
highest current independent bid price at the trading platform where
the buyback is made.

Heidelberger Druckmaschinen Aktiengesellschaft will provide
regular updates on the transactions and the progress of the share
buyback program at www.heidelberg.com.

Initial share buyback program was concluded in July 2006

In an initial share buyback program the Company had already
repurchased 4,295,424 shares (5 percent of the capital stock) during
the period from November 9, 2005 to July 26, 2006 totaling EUR
150,349,212.29.

On March 31, 2006, a total of 2,857,777 shares were withdrawn. The
remaining shares were already partly used for employee share
participation programs. At present the Company still holds 1,384,424
of its own shares.