PAI Paion

         Announcement according to Sec 37x WpHG (German Securities 
     Trading Act) with the aim of a Europe-wide distribution 
    PAION AG hereby announces that the following financial reports shall be disclosed:
    Report: Financial report of the group for the third quarter and the first nine months 2008
    Date of disclosure: 5 November 2008
    Available at: http://www.paion.de/reports(German and English)
    Aachen, 22 October 2008
    Issuer:
    PAION AG
Martinstrasse 10-12
52062 Aachen-Germany
    Contact:
Dr. Peer Nils Schrder, Director Corporate Communications & Investor Relations
Tel.: +49 241 4453-152
E-mail: pn.schroeder@paion.de
     www.paion.de
    Teathers Limited
Nomad and broker (AIM)
Shaun Dobson/Claes Sp�ng
Phone +44 20 7426 9000
    

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