Announcement on dividends

At the Annual General Meeting of our company on 28 May 2008 it was resolved that, from the net annual profit for the 2007 accounting period, a dividend of EUR 1.20 per denominated share, i.e. a total of EUR 8,496,494.40, be paid out on the registered share capital eligible for dividend amounting to EUR 18,409,071.20.

The dividend will be paid out as of 30 May 2008 by Clearstream Banking AG, Frankfurt, onto shareholders' accounts held there with the custodian banks, less 20% capital gains tax and a 5.5% solidarity surcharge on the capital gains tax (21.1% in total).

The paying bank for the dividend is

- BHF-BANK Aktiengesellschaft

The German shareholder relief system HEV (half-income assessment method) is applied for the dividend payout. Under the HEV system, public limited company profits are finally liable to corporation tax; it is no longer necessary to credit the corporation tax paid by the company against the shareholder's income tax. Instead, under HEV, only half of the value of the net dividends is assessed for the purposes of income tax for natural persons and partners in limited companies.

In the case of domestic shareholders liable to corporate income tax, 95 % of earnings from dividends are not taken into consideration on determining income.

The deduction of capital gains tax and the solidarity surcharge is waived if a domestic natural person submits to the domestic custodian bank certification of non-assessment issued by the revenue office at the respective seat of residence, or if a domestic natural person submits an appropriate exemption order.

Oldenburg, 29 May 2008

CEWE COLOR Holding AG
The Board of Management