Ad hoc: Biofrontera AG: Biofrontera AG offers optional replacement and restructuring of the 8% convertible bond 2005/2010

Biofrontera AG / Misc. matters / Ad hoc: Biofrontera AG offers
optional replacement and restructuring of the
8% convertible bond 2005/2010

Ad hoc announcement according to §15 WpHG processed and transmitted
by Hugin. The issuer is solely responsible for the content of this
announcement.

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Leverkusen, Germany, 29 June 2009 - Biofrontera AG decided today to
make the holders of the 8% convertible bond 2005/2010 - ISIN
DE000A0E9649 - an optional offer for the replacement of the
convertible bond. The offer has the following essential conditions:

For each two partial debendures of the 8% convertible bond 2005/2010
the bond holders will, within the optional offer,

(i) obtain free of payment one partial debenture of Biofrontera's new
option bond 2009/2017 (ISIN: DE000A0Z1690) and

(ii) receive free of payment 6.199 registered name shares of
Biofrontera AG with a nominal value of EUR 1.00. No compensation will
be paid for remaining splits of shares.

Upon acceptance of the offer to exchange two partial debentures of
the convertible bond 2005/2010, the bond holders will, within the
voluntary offer, get the option to acquire and receive 3.554
registered name shares of Biofrontera AG with a nominal value of 1
EUR per share ("New Shares") for 1 EUR per share. The New Shares will
be generated from the authorized capital. Only full shares will be
supplied. A maximal number of 330,000 New Shares can be subscribed by
the bond holders.

To issue the new shares the executive board has, upon the approval of
the supervisory board, decided to increase the base capital of the
company from the current EUR 5,736,628.00 to a maximum of EUR
6,066,628.00 through the emission of up to 330,000 new name shares,
issued from the authorized capital.

The company has mandated VEM Aktienbank AG, Munich, with the handling
of the optional replacement of the convertible bond.

For further details of the offer it is referred to the announcement
of the optional replacement offer, which is expected to be published
in the electronic Federal Bulletin of July 1, 2009, and subsequently
on the web page of the company.

Biofrontera AG
Hemmelrather Weg 201, 51377 Leverkusen, Germany
ISIN: DE0006046113
WKN: 604611

Contact:
Anke zur Mühlen
Biofrontera AG
Tel.: +49 (0214) 87 63 222
Fax: +49 (0214) 87 63 290
e-mail: a.zurmuehlen@biofrontera.com

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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany

WKN: 604611;
ISIN: DE0006046113;
Listed: Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse
München,
Freiverkehr in Börse Stuttgart, Open Market in Frankfurter
Wertpapierbörse,
Regulierter Markt in Börse Düsseldorf;
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