Target company: Vossloh Aktiengesellschaft; Bidder: KB Holding GmbH Dissemination of an announcement according to the German Securities Acquisition and Takeover Act (WpÜG), transmitted by DGAP - a service of EQS Group AG. The bidder is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Convenience Translation - Amendment to the publication of the decision to make a voluntary public takeover offer (freiwilliges öffentliches Übernahmeangebot) in accordance with Section 10 para. 1 and para. 3 in connection with Sections 29 and 34 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG) Bidder: KB Holding GmbH Schlehdornstr. 3 82031 Grünwald Germany registered with the commercial register of the local court (Amtsgericht) of Munich under HRB 122175 Target Company: Vossloh Aktiengesellschaft Vosslohstraße 4 58791 Werdohl Germany registered with the commercial register of the local court (Amtsgericht) of Iserlohn under HRB 5292 ISIN: DE 0007667107 (WKN: 766710) On 20 January 2015, KB Holding GmbH published in accordance with Sec. 10 para. 1 und 3 in connection with Sec. 29 and 34 WpÜG its decision to make a voluntary public takeover offer to the shareholders of Vossloh Aktiengesellschaft, Vosslohstraße 4, 58791 Werdohl, Germany, for the acquisition of all ordinary bearer shares with no par value, each share representing a proportionate amount of EUR 2.84 in the share capital (the 'Vossloh-Shares'). KB Holding GmbH further announced that it intends to offer the payment of a cash consideration per Vossloh-Share in the amount of the weighted average domestic stock exchange price during the last three months before the publication of the announcement according to Sec. 10 para. 1 sent. 1 WpÜG pursuant to Sec. 5 para. 1 and 3 of the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer (WpÜG-Angebotsverordnung), as determined by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and that this consideration is expected to be in a range between EUR 48 and 49 per Vossloh-Share. Today, BaFin informed KB Holding GmbH that the domestic weighted average stock exchange price of the Vossloh-Shares during the last three months prior to the publication of the announcement according to Sec. 10 para. 1 sent. 1 WpÜG on 20 January 2015 amounts to EUR 48.50. Therefore, KB Holding GmbH will offer the payment of a cash consideration of EUR 48.50 per Vossloh-Share in the voluntary public takeover offer. The offer will be made subject to the terms and conditions to be stated in the offer document and will be subject to certain offer conditions. The offer document and other information regarding the offer will be made available on the internet at www.velvet-angebot.de. Further Information KB Holding GmbH is a wholly-owned subsidiary of TIB Vermögens- und Beteiligungsholding GmbH, in which Stella Vermögensverwaltungs GmbH holds the majority of the voting rights. Mr. Heinz Hermann Thiele holds the majority of the voting rights in Stella Vermögensverwaltungs GmbH. Important note: This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in Vossloh Aktiengesellschaft or any other security. The offer document and the terms and conditions contained therein will have sole relevance in respect of the takeover offer. Investors and shareholders of Vossloh Aktiengesellschaft are advised to read the relevant documents regarding the takeover offer to be published by KB Holding GmbH because they will contain important information. Investors and shareholders of Vossloh Aktiengesellschaft will be able to receive the offer document as well as other documents in connection with the takeover offer via the website www.velvet-angebot.de once these documents are available. Grünwald, 27 January 2015 KB Holding GmbH End of WpÜG announcement The 27.01.2015DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Listed: Regulierter Markt in Frankfurt (Prime Standard) und Düsseldorf; Freiverkehr in Berlin, Hamburg, Hannover, München und Stuttgart