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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: Bush Hogger who wrote (604)	4/3/1998 8:37:00 AM
From: Umnik	Respond to of 3424

The old shares will be retired in favor of the new NYSE listed ADRs. What you are basically looking for is 4:1 split of SAPHY, since SAPHY is pegged to Frankfurt preferred shares on 3:1 basis, and the recent press release indicated that the new ADRs will be pegged to Frankfurt preferreds on 12:1 basis. You can also call Bank of NY, their ADR admin or SAP Investor Relations for further clarifications. HTH, Umnik.

To: Bush Hogger who wrote (604)	4/3/1998 11:42:00 AM
From: Anita Backus	Read Replies (1) \| Respond to of 3424

The following is clipped from SAP's website at www.sap.com (you might want to check it out). New York Stock Exchange Listing Preparations for an early August listing on the New York Stock Exchange (NYSE) are on schedule. The ADRs will be traded under the ticker symbol "SAP". In conjunction with the US listing, the ratio of ADRs to preferred shares (which is presently 3 ADRs to 1 SAP preferred share) will be changed to 12 ADRs to 1 preferred share. In addition, on April 6, the German Stock Exchange symbol for SAP shares will change to "SAP". So, the shares will trade under the symbol SAP once they're on the NYSE. Existing shareholders should get 4 new shares for every one. Hope that helps.