Basis of Presentation

The consolidated financial statements for financial year 2004 were prepared in accordance with the German Commercial Code (Handelsgesetzbuch – HGB), the German Stock Corporation Act (Aktiengesetz) and the Accounting Ordinance for Banks and Financial Services Institutions (Verordnung über die Rechnungslegung der Kreditinstitute und Finanzdienstleistungsinstitute).

The explanations contained in the “General” section offer disclosures on other sections of the consolidated financial statements, in particular:

• Summary of significant accounting policies
• Consolidation principles
• Segment reporting
• Notes to the statement of changes in equity
• Disclosures on company acquisitions