Die BB MEDTECH AG (ISIN CH0000428661/ WKN 898194), Schaffhausen, begibt unter der Federführung der Bank am Bellevue AG und HVB Corporates & Markets eine Wandelanleihe über CHF 100 bis 150 Mio. mit einer Laufzeit von 3 Jahren und einer Pflichtwandlungskomponente. Der Coupon wird zwischen 4,5% bis 5% betragen. Den Aktionären der BB MEDTECH AG in der Schweiz sowie in Deutschland wird ein Recht auf die Vorwegzeichnung der Wandelanleihe eingeräumt.

In Anbetracht der guten Wachstumsaussichten der Medizintechnologie-Branche hat der Verwaltungsrat der BB MEDTECH AG beschlossen, das derzeitige Momentum zu nutzen und der Gesellschaft über die Ausgabe einer teilweisen Pflicht-Wandelanleihe neue Mittel zuzuführen. Die BB MEDTECH AG wird mit den Mitteln zunächst bestehende Verbindlichkeiten zurückführen sowie weitere Investitionen der BB MEDTECH AG finanzieren. Andererseits setzt der Verwaltungsrat mit der Wandelanleihe sein Bestreben fort, neue Investorengruppen anzusprechen.

Die BB MEDTECH AG emittiert eine teilweise Pflicht-Wandelanleihe mit einem Emissionsvolumen von bis zu CHF 150 Mio. Dieser Betrag beinhaltet eine Mehrzuteilungsoption von bis zu 15% der Wandelanleihen, die nicht durch Ausübung des Bezugsrechtes bestehender Aktionäre gezeichnet wurden. Der Coupon wird zwischen 4,5% und 5% betragen. Der Wandelpreis liegt zwischen 15% und 20% über dem volumengewichteten Durchschnittskurs der Aktie am 22. Februar 2006 an der SWX Swiss Exchange. Am Ende der Laufzeit von 3 Jahren erfolgt eine Pflichtwandlung von bis zu 50% der ursprünglich ausgegebenen Wandelanleihen in Aktien der BB MEDTECH AG. Die Lieferung erfolgt entweder aus eigenen Aktien der BB MEDTECH AG oder aus bedingtem Kapital. Die Zwangswandlung ist limitiert auf 50% des Nennwertes aller ursprünglich ausgegebenen Wandelanleihen abzüglich der Summe der Nennwerte aller Wandelanleihen, die bis zum 13. Februar 2009 gewandelt wurden.

Die Zeichnungsfrist läuft vom 13. bis 22. Februar 2006 (12.00 Uhr MEZ). Die definitiven Konditionen der Wandelanleihe werden am 22. Februar 2006 nach 17.30 Uhr MEZ festgelegt, die Zuteilung erfolgt anschließend. Die provisorische Zulassung der Wandelanleihen zum Handel an der SWX ist ab dem 1. März 2006 vorgesehen, Lieferung und Zahlung erfolgt am 6. März 2006.

Den Aktionären der BB MEDTECH AG in der Schweiz sowie in Deutschland wird vom 13. bis 21. Februar 2006 ein Recht auf die Vorwegzeichnung der Wandelanleihe eingeräumt. Dabei berechtigen 106 BB MEDTECH AG-Aktien zum Bezug einer Wandelanleihe von CHF 1.000 nominal gegen Zahlung des Nominalwerts.

Die Wandelanleihe wird (mit Ausnahme des Vorwegzeichnungsrechts) in Deutschland nur bei institutionellen Anlegern platziert.

Sales Restrictions:

United States of America Sales Restrictions: The Offering consists of (i) a public offering of the Bonds in Switzerland, and (ii) a private placement of the Bonds in certain other jurisdictions. The Bonds have not been and will not be registered under the US-Securities Act of 1933, as amended (the Securities Act) or any state securities laws and may not be offered, sold, delivered or transferred within the United States or to, or for the account or benefit of, US-persons except in certain transactions in accordance with Regulation S under the Securities Act (Regulation S) or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Terms used in this paragraph have the meanings assigned to them by Regulation S. In addition, until 40 days after commencement of the offering, an offer or sale of the Bonds within the United States by a dealer (whether or not participating in the offering) may violate the requirements of the Securities Act.

United Kingdom Sales Restrictions (A): This document is only directed at and will only be provided to persons having professional experience in matters relating to investments within Article 19(4) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (Relevant Persons). Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons who do not have professional experience in matters relating to investments should not rely on this document. This offer is made to or directed only at qualified investors for the purpose of section 85 of the Financial Services and Markets Act 2000. Each of the Managers has represented, warranted and agreed to comply with the sales restriction in (A) above and furthermore that: (B) it has complied and will comply with all applicable provisions of the Financial Services and Markets Act 2000 (the FSMA) with respect to anything done by it in relation to the Bonds in, from or otherwise involving the United Kingdom; and (C) it has only communicated or caused to be communicated and will only communicate or cause to be communicated any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of any Bonds in circumstances in which section 21(1) of the FSMA does not apply to the Issuer. As used herein, "United Kingdom" means the United Kingdom of Great Britain and Northern Ireland.

German Sales Restrictions: The Bonds have not been and will not be registered under the securities laws of Germany and the Prospectus has not been and will not be submitted for approval to the German Federal Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) or to any other competent authority of any other member state of the European Economic Area which has implemented the Prospectus Directive. Therefore, the Bonds may not be offered to the public in Germany, except to legal entities which are authorised or regulated to operate in the financial markets listed in Section 2 No. 6 a) of the German Securities Prospectus Act (Wertpapierprospektgesetz), or, if not so authorised or regulated, whose corporate purpose is solely to invest in securities.

Italian Sales Restrictions: This document has not been filed with CONSOB, the Italian Securities Commission, and no application has been or will be made to obtain an authorisation from CONSOB for a public offering in Italy. Accordingly, any investment or investment activity to which this document relates may not be offered, sold or delivered, and neither this document nor any other offer document may be distributed, in Italy except to qualified investors (operatori qualificati), as defined in Article 31(2) of CONSOB Regulation no. 11522 of 1 July, 1998, as amended (Regulation 11522), and Article 100 of Legislative Decree no. 58 of 24 February, 1998, as amended (Decree No 58), or in any other circumstances where an express exemption from compliance with the solicitation restrictions provided by Decree No. 58 or CONSOB Regulation No. 11971 of 14 May 1999, as amended, applies. Any offer, sale or delivery of any investment or investment activity to which this document relates or any distribution of copies of this document or any other offer document in Italy must be: (A) made by investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with Legislative Decree No. 385 of 1 September 1993 (Decree No. 385), Decree No. 58, Regulation No. 11522 and any other applicable laws and regulations. (B) in compliance with Article 129 of Decree No. 385 and the implementing instructions of the Bank of Italy, pursuant to which the issue, trading or placement of securities in Italy is subject to prior notification to the Bank of Italy, unless an exemption, depending, inter alia, on the amount of the issue and the characteristics of the securities, applies; and (C) in compliance with any other applicable notification requirement or limitation which may be imposed by CONSOB or the Bank of Italy. The offering of Advance Subscription Rights is not addressed to holders of the Shares of the Issuer which are resident in Italy and consequently any offer to subscribe submitted directly or indirectly by holders of the Shares which are resident in Italy shall not be accepted.

General Sales Restrictions: No action has been or will be taken in any jurisdiction other than Switzerland by the Issuer or the Managers that would, or is intended to, permit a public offering of the Bonds, or possession or distribution of the Prospectus or any other offering material, in any country or jurisdiction where action for that purpose is required. No offer has been made or will be made where such offer would be illegal.