2104 Hybrid Bond, 1.3 bn. euros, 5.375%

In November 2005, Henkel issued a subordinate hybrid bond in the amount of 1.3 billion euros for the purpose of financing a major portion of the Company’s pension obligations in Germany. The proceeds of the bond were allocated to a special-purpose CTA (Contractual Trust Arrangement). Additional information is provided in the section below.

In May 2003, Henkel KGaA issued a senior bond for 1.0 billion euros. This is also described as a benchmark bond because, due to its large volume and its liquidity, it provides a good yardstick for the market’s assessment of Henkel’s creditworthiness. Additional information is provided in the documents below.

Bonds are usually issued under standardized conditions in the framework of a Debt Issuance Programme. This is explained in the Information Memorandum, which serves as prospectus in Germany and Luxembourg. Under this program, which was last updated on July 6, 2007, Henkel can issue up to 3 bill. euros in securities.