Convertible bond 2003/2018 (ISIN DE0009038968) fully converted

2009-11-10 07:34:01 -

London, November , 10, 2009

Herzogenaurch  -  adidas  AG  announces  that,  following  notice  of

redemption bv the issuer adidas International Finance B.V. on October

8,  2009,  the   € 400 million  convertible   bond  2003/2018   (ISIN

DE0009038968) has been fully converted. This development  corresponds

to Management's original  expectation that, in  light of the  current

adidas AG share price, most  or all bondholders would exercise  their

conversion rights.



Following completion of the conversion process, 15,684,274 new shares

based on the Contingent Capital 2003/II of the Company will have been

issued. The  new shares  will  be entitled  to  dividends as  of  the

beginning of the financial year 2009.



As a result of the conversion, adidas AG will reduce its net debt  by

about € 400 million and increase its equity in the same amount.  This

development will contribute to the early achievement of the Company's

medium-term target of financial leverage below 50% by year-end 2009.





About the adidas Group

The adidas Group  is one of  the global leaders  within the  sporting

goods industry offering a  broad range of  products across the  three

core brands adidas, Reebok and TaylorMade-adidas Golf.  Headquartered

in Herzogenaurach, Germany, the Group has more than 38,000  employees

and generated sales of EUR 10.8 billion in 2008.



                                 ***



Contacts:





Media Relations                                          Investor

                                                         Relations

Jan Runau                                                John-Paul

                                                         O'Meara

Chief Corporate Communications Officer                   Head of

                                                         Investor

                                                         Relations

Tel.: +49 (0) 9132                                       Tel.: +49

84-3830                                                  (0) 9132

                                                         84-2751



Katja Schreiber                                          Dennis Weber

Corporate PR Manager                                     Investor

                                                         Relations

                                                         Manager

Tel.: +49 (0) 9132 84-3810                               Tel.: +49

                                                         (0) 9132

                                                         84-4989







Please visit our corporate website: www.adidas-Group.com




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