1st share buy-back program

CEWE COLOR Holding AG closes its share buy-back program

Oldenburg, February 10, 2006 – CEWE COLOR Holding AG (SDAX; ISDN DE 0005403901), has bought back a total of 123,300 own company shares on the basis of authorisation granted at the Annual General Meeting on June 30, 2005. The shares were bought back in the period from October 28, 2005 to February 10, 2006. The Bayerische Hypo- und Vereinsbank AG, Munich, purchased the shares for CEWE COLOR in Xetra trade on the stock exchange. This closes the share buy-back program.

Before the share buy-back program commenced CEWE COLOR Holding AG already held 476,700 own company shares, of which 200,000 shares were held for the purpose of serving a stock option plan.

The price per share to be paid by the company (excluding extra acquisition charges) was not permitted to exceed or fall short of the stock-exchange quotation by more than 10 %. The respective authoritative stock exchange quotation was the share price of the company determined in Xetra trade on the Deutsche Börse AG (or the follow-up system which replaces the Xetra system).

After closure of the share buy-back program, CEWE COLOR Holding AG now holds 10 % of the registered share capital. Free float shares account for 90 %.

Share buy-back program

- interim announcement -

Within the scope of the resolution taken by the Board of Management of CEWE COLOR Holding AG (SDAX; ISIN DE 0005403901) on the basis of authorisation granted to the Board of Management at the Annual General Meeting of June 30, 2005, namely to purchase up to 123,300 own company shares in the period between October 28, 2005 and December 29, 2006, CEWE COLOR Holding AG has purchased a total of 123,300 own company shares in the period from November 28, 2005 to February 10, 2006 (Volume: 4,494,665.18 €). Acquisition is being conducted by the Bayerische Hypo- und Vereinsbank Ag, Munich, in Xetra trade on the stock exchange.

Date	Number	Average € share price	€ Business volume
December 23, 2005	650	34.4500	22,392.50
December 27, 2005	2,900	36.6774	106,364.46
December 28, 2005	2,864	38.0398	108,945.99
December 29, 2005	2,276	39.5733	90,068.83
December 30, 2005	800	41.2960	33,036.80
Total December 2005	9,490	38.0199	360,808.58
January 03, 2006	450	39.8111	17,915.00
January 04, 2006	3,350	38.9794	130,581.00
January 05, 2006	3,600	39.2877	141,435.68
January 06, 2006	3,622	39.3782	142,627.84
January 09, 2006	3,600	38.3897	138,202.99
January 10, 2006	4,028	36.9815	148,961.48
January 11, 2006	4,218	37.4992	158,171.63
January 12, 2006	4,250	36.7391	156,141.18
January 13, 2006	4,305	36.3288	156,395.48
January 16, 2006	4,115	35.5352	146,227.43
January 17, 2006	4,146	34.4646	142,890.31
January 18, 2006	4,124	34.5050	142,298.62
January 19, 2006	4,177	35.7906	149,497.42
January 20, 2006	4,232	36.1043	152,793.57
January 23, 2006	4,476	35.2860	157,940.14
January 24, 2006	4,471	35.7288	159,743.51
January 25, 2006	4,445	35.3607	157,178.09
January 26, 2006	4,367	35.3693	154,457.73
January 27, 2006	4,386	34.7664	152,485.21
January 30, 2006	4,565	35.5236	162,165.23
January 31, 2006	3,802	35.8068	136,137.26
Total January 2006	82,729	36.3143	3,004,246.80
February 01, 2006	4,670	35.6386	166,432.45
February 02, 2006	4,765	35.5307	169,303.93
February 03, 2006	4,826	35.9374	173,433.84
February 06, 2006	4,562	35.9570	164,035.65
February 07, 2006	4,517	36.6398	165,502.16
February 08, 2006	4,557	37.5953	171,321.83
February 09, 2006	1,238	37.4014	46,302.98
February 10, 2006	1,946	37.6553	73,277.14
Total February 2006	31,081	36.3441	1,129,609.80
Total	123,300	36.4531	4,494,665.18

Oldenburg, February 10, 2006
cewe color Holding AG
- Der Vorstand -

Der Geschäftssitz der cewe color Holding AG lautet:
cewe color Holding AG
Meerweg 30-32
D-26133 Oldenburg

Letzte Änderung am: February 10, 2006

Oldenburg, November 27, 2005 – The Board of Management of cewe color Holding AG (SDAX; ISIN DE 0005403901) has resolved, on the basis of authorisation granted at the Annual General Meeting on June 30, 2005, to acquire up to 123,300 own company shares in the period between October 28, 2005 and December 29, 2006. At no point in time may a 10 % proportion of the registered share capital of the company be exceeded. The Board of Management has resolved to utilize the shares for possible acquisitions and further Stock Option Plans.

At present the company holds 476,700 own company shares, of which 200,000 shares are held for the purpose of serving the 2005 Stock Option Plan.

The price per share to be paid by the company (excluding extra acquisition charges) may not exceed or fall short of the stock-exchange quotation by more than 10 %. The respective authoritative stock exchange quotation is the share price of the company determined in Xetra trade on the Deutsche Börse AG (or the follow-up system which replaces the Xetra system).

The share buy-back is being conducted by a credit institute which will reach a decision on the point in time of acquisition of the company's own shares independently of the company. The credit institute will not be influenced by the company on taking its decision. The re-purchase of shares under this resolution taken by the Board of Management will be conducted in accordance with the safe harbour regulations as stipulated in §§ 14 Paragraph 2, 20 a Paragraph 3 of the WpHG (German Securities Trading Act) read in conjunction with (EG) regulation nr. 2273/2003 of the Commission dated December 22, 2003 – exemptions for buy-back programs and share-price stabilisation measures.

Acquisition is to be conducted at the best price and on protection of interests. No more than 25 % of the average daily trading volume m ay be acquired on any given day.