DJ Vara Research Consensus Estimates/Bayer: Q1 2008 Sales: EUR 8.51 bn (+2.1%); Core EPS: EUR 1.22 (-2.9%)

The calculated consensus is based on the estimates of 25 major banks
consulted by Vara Research GmbH. 

+-------------------+-------+-------+-------+-------+---------+-------+
|(in million Euros) | Q1 08E|    YoY|  2008E|    YoY|    2009E|    YoY|
|                   |       | Growth|       | Growth|         | Growth|
+-------------------+-------+-------+-------+-------+---------+-------+
|Sales              |  8,513|   2.1%| 33,207|   2.5%| 34,419.8|   3.7%|
+-------------------+-------+-------+-------+-------+---------+-------+
|EBITDA*            |  2,028|   1.9%|  7,056|   4.1%|  7,689.8|   9.0%|
+-------------------+-------+-------+-------+-------+---------+-------+
|EBIT*              |  1,357|  -1.3%|  4,403|   2.7%|     4997|  13.5%|
+-------------------+-------+-------+-------+-------+---------+-------+
|EPS reported       |   0.83| -75.9%|   2.48| -57.6%|     3.37|  36.0%|
+-------------------+-------+-------+-------+-------+---------+-------+
|Core EPS**         |   1.22|  -2.9%|   4.02|   5.9%|     4.55|  13.0%|
+-------------------+-------+-------+-------+-------+---------+-------+
|                                         * Before non-recurring items|
|                                               ** As defined by Bayer|
+-------------------+-------+-------+-------+-------+---------+-------+
|                   |       |       |       |       |         |       |
+-------------------+-------+-------+-------+-------+---------+-------+
The company will release Q1 2008 results on April 24, 2008. 

Further consensus details: 

http://www.vararesearch.de/newsletter/Bayer_NL_2008_04_11.pdf 

Get our high quality consensus estimates on a regular basis: 

http://www.vararesearch.de/newsletter_engl.htm 

Contact details: 

Vara Research GmbH 

Martin Pahn 

Phone: +49-69-66 36 80 72 

E-mail: info@vararesearch.de 

Disclaimer: This document has been issued by Vara Research GmbH for
information purposes only and is not intended to constitute investment
advice. It is based on estimates and forecasts of various analysts regarding
revenues, earnings and business developments of the relevant company. Such
estimates and forecasts cannot be independently verified by reason of the
subjective character. Vara Research GmbH gives no guarantee, representation
or warranty and is not responsible or liable as to its accuracy and
completeness. 

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(END) Dow Jones Newswires

April 11, 2008 07:00 ET (11:00 GMT)