Ladies and Gentlemen,

Throughout fiscal 2006, the Supervisory Board fulfilled its duties as established under the law, the Company’s Articles of Association, and its Bylaws. The Supervisory Board provided counsel to the Managing Board and monitored its management of the Company. In order to achieve this, the Managing Board gave regular, prompt, and comprehensive reports, both verbally and in writing, especially on all topics of relevance to corporate management, the business development, strategic planning, and risk exposure, including risk management. Furthermore, the Chair of the Supervisory Board was in regular contact with the Managing Board beyond the scope of the meetings.

All matters requiring consent were submitted to the Supervisory Board, which granted its approval after thorough review.