Director's Dealings

Disclosure of Director's Dealings according to Para 15a WpHG

Upon the entry into force in July 2002 of Section 15a of the German Securities Trading Act (Wertpapierhandelsgesetz; WpHG) as amended by the Fourth Financial Markets Promotion Act in connection with the new German Shareholder Protection law of October 2004, transactions in securities of their own company carried out by members of directors of publicly listed companies (as well as closely related persons, shall be published without delay.

Publication of such transactions plays an important role in the prevention of insider dealing. It is of high importance to the market to be informed about such transactions as they provide an indication as to the management's assessment of the future business performance. Furthermore, the disclosure and publication requirements are intended to improve directors' identification with the company.

Detailed summary of the disclosed Director's Dealings according to Para 15a WpHG: