Consensus estimates

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The investor relations department of K+S Group is sporadically polling securities analysts estimates for selected financial key figures of K+S Group. The poll is done by use of a standardized procedure. The results of the last poll (4 November 2008) have been summarized as follows.

Share price target (€)
Average	68.10
Median	67.50
High	105.00
Low	28.00
# of estimates	20
		2007*			2008	2009	2010
Revenues (€ million)		3,344.1		Average	5,167.4	6,062.8	6,179.9
				Median	5,154.3	6,051.4	6,048.1
				High	5,603.5	7,571.0	8,852.5
				Low	4,624.8	5,032.0	5,034.0
				# of estimates	21	20	19
Operating earnings EBIT I (€ million)		285.7		Average	1,486.3	2,186.9	2,187.5
				Median	1,426.7	2,198.1	2,079.0
				High	1,662.6	3,027.5	3,859.4
				Low	1,381.9	1,329.1	1,193.0
				# of estimates	21	20	19
Group earnings after taxes, adjusted (€ million)		175.3		Average	1,044.0	1,555.6	1,563.4
				Median	1,009.5	1,551.2	1,531.7
				High	1,211.4	2,162.2	2,769.8
				Low	953.5	919.4	835.4
				# of estimates	21	20	19
Earnings per share, adjusted (€)		1.06		Average	6.33	9.14	9.30
				Median	6.12	9.40	9.28
				High	7.35	13.10	16.79
				Low	5.78	1.85	5.06
				# of estimates	21	20	19
Dividend per share (€)		0.50		Average	2.58	3.84	3.95
				Median	2.69	3.91	3.70
				High	3.34	5.60	7.50
				Low	1.25	1.75	1.45
				# of estimates	21	20	19

* adjusted for share split in the ratio 1 to 4

Consensus estimates are based on earnings projections made by securities analysts who cover K+S. Any estimates regarding K+S's performance made by the analysts are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of K+S Group or its executive board. K+S does not by providing these estimates imply its endorsement of or concurrence with such information, conclusions or recommendations. K+S assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.