MAN AG / Half Year Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

Following the strong Q1/2007 growth, Q2 order intake was again very
buoyant. Orders valued at EUR4.8 billion rose 17 percent over the
year-earlier EUR4.1 billion. At EUR9.6 billion, H1 orders were up 20
percent from EUR8.0 billion. The rush of incoming orders and an order
backlog which since January 1 has risen by 20 percent to a new record
of EUR13.5 billion, are reflected in mushrooming sales, too. Whereas
Q2 sales rose 9 percent from EUR3.2 billion to EUR3.5 billion, the
figure for both quarters combined is now EUR6.8 billion, equivalent to
a 12-percent growth versus the year-earlier EUR6.0 billion.

The operating profit jumped from EUR262 million last year to EUR403
million, the Scania dividend accounting for EUR43 million. For 2007
the H1 operating profit surged 52 percent to EUR721 million (up from
EUR473 million in 2006). As a consequence, ROS rose from 7.8 to 10.7
percent in H1/2007. Excluding the Scania dividend, the figure is 10.0
percent and, for the first time ever in the Group’s history, of
double-digit magnitude.

In Q2 the following factors produced a nonrecurring result that
impacted on EBT but not on the operating profit: On the one hand, we
orchestrated a restructuring program for Buses after this unit failed
by far to attain the target return despite massive efforts, this
underperformance prompting us to write down the EUR85 million goodwill
from the Neoplan acquisition by a full EUR65 million, a grave
impairment loss. Expected restructuring expenses totaled another EUR65
million, which we accrued. On the other hand, we agreed with
Freightliner to settle the year-long ERF litigation against payment of
GPB250 million in damages. In this context, we wrote off and
derecognized the residual EUR34 million goodwill from the ERF 
acquisition since the damages paid reduced the historical cost of the 
investment to nil, the reason for goodwill capitalization thus
becoming inexistent. Finally, the nonrecurring result includes EUR33
million from the stock split and subsequent stock repurchase by
Scania, bringing the nonrecurring income to a net total of EUR241
million.

The MAN Group’s H1 EBT (including the nonrecurring income) soared from
EUR432 million a year ago to EUR935 million in 2007, its H1 net income
(EAT) surging from EUR352 million in 2006 to EUR668 million. Earnings
per share (EpS) of continuing operations improved to EUR3.55 excluding
nonrecurring income and EUR4.47 including it (up from EUR2.13).

For all of this year, the MAN Group will raise its order intake by
around 5 percent (2006: EUR16.6 billion) and its sales by over 10
percent (2006: EUR13.0 billion). The Group’s operating profit (2006:
EUR1,105 million) will once again outpace sales, with ROS (2006: 8.5
percent) for the full 12 months just over 10 percent.

MAN Aktiengesellschaft
The Executive Board
DGAP 31.07.2007