Listings

The official listing of ordinary shares of Royal DSM N.V. is at the Euronext Stock Exchange in Amsterdam, the Netherlands.

Options on ordinary DSM shares are traded on the European Option Exchange in Amsterdam, the Netherlands ("Euronext.liffe").

In the USA a sponsored unlisted American Depositary Receipts (ADR) programme is offered by Citibank NA (Cusip 780249108), where four ADR's represent the value of one ordinary DSM share.

Cumulative preference shares of DSM are not listed at the stock exchange.

Further information about these listings can be obtain via the following links:

• Euronext Amsterdam Stock Exchange: Euronext Amsterdam
• Euronext Option trading in Amsterdam: Euronext.liffe Amsterdam
• the US through a Citibank/ADR program

Pursuant to the decision of the Annual General Meeting of Royal DSM N.V. held on 29 March, 2006, the ordinary bearer shares in Royal DSM N.V. will be registered in the name of Euroclear Nederland, the central institute for the purposes of the Securities (Bank Giro Transactions) Act, with an endorsement to the effect that these shares are included in the book-entry deposit of securities of the type in question.

Holders of ordinary shares in the form of CF certificates (“CF Shares”) who have their shares managed by a financial institution need to take no action themselves. The procedure will in principle be free of commission for the holders of CF Shares.
Holders of ordinary bearer shares in the form of K certificates are requested to deposit these K certificates with ABN AMRO Bank N.V. to obtain Ordinary Shares, stating the number of a securities account held with a financial institution associated with Euroclear Nederland. As long as these K certificates have not been deposited in the way described above, it will not be possible to exercise the rights associated with these shares.

In connection with the above the stock and ISIN codes for ordinary DSM shares traded at Euronext changed.
This change took place on 8 May 2006.

In connection with the above, from May 8, 2006 the CF Shares will be centrally exchanged for Ordinary Shares by Euroclear Nederland, the central institute for the purposes of the Securities (Bank Giro Transactions) Act, in collaboration with ABN AMRO Bank N.V. The Ordinary Shares will be made available in book-entry form. Any CF Shares not deposited with Euroclear Nederland can be submitted for exchange to ABN AMRO Bank N.V. in Breda from May 8, 2006 in order to obtain Ordinary Shares in book-entry form. CF Shares submitted for exchange should be accompanied by a numbered list. The CF Shares should be sorted by number.

The institutions admitted to Euronext Amsterdam N.V. will be paid a commission of EUR 2.00 per deposit, in accordance with the list provided by ABN AMRO Bank N.V. (November 29, 2000). The admitted institutions are requested to inform the aforementioned banking institution about the number of deposit clients they have informed, by May 22, 2006 at the latest.