Compensation of the Board of Management:

In accordance with section 161 of the AktG (Aktiengesetz - German Public Companies Act) relating to the German Corporate Governance Code, we are disclosing the compensation of the Board of Management as follows:

The compensation of the Board of Management is composed of fixed and variable elements. The fixed component consists of a defined annual salary payable in monthly installments, a company car and contributions to health and long-term care insurance and to voluntary insurance with the Occupational Health and Safety Agency.

The variable component includes bonuses amounting to three percent of the income for the year before taxes on earnings, according to the consolidated financial statement of the CeoTronics Group. The level of this component is limited to 25 percent of total annual compensation. In addition, variable compensation includes virtual stock options, which are dependent on the Company achieving a specific share price or a specified figure for EBIT, with four set target levels.

(as of February 28, 2006)

• Günther Thoma, Schöllkrippen
  COO (Operations)
• Berthold Hemer, Schaafheim
  CTO (Technology / R&D)
• Thomas H. Günther, Rödermark
  Chairman and CEO