Pursuant to the company’s articles of association and statutory requirements, the Supervisory Board in 2008 exercised regular supervisory control over the  management board of Finanz Informatik Technologie Service GmbH & Co. KG (formerly IZB Informatik-Zentrum München-Frankfurt am Main GmbH & Co. KG). The Supervisory Board convened for four meetings and was given regular status and progress reports verbally and in writing by the Management Board on the company’s economic situation and the quality of the services provided.

The Supervisory Board was notified of and endorsed the annual planning produced by the Management Board and the resulting plans for capital expenditure, operating expenses and HR. The Supervisory Board also took requisite decisions on particular strategic questions arising over the course of the year which according to the articles of association of the company require Supervisory Board approval.

The overarching issue in 2008 was the migration of the Bavarian Sparkasse banks to the OSPlus system of Finanz Informatik Technologie Service GmbH & Co. KG, and the ensuing contraction of sales revenues. The cost structure was brought into line with the changes through internal process and personnel optimisation, enabling a positive result for the year.

The financial statements for fiscal year 2008, including the Directors’ Report, have been audited by WIBERA Wirtschaftsberatung AG auditors and have been accorded an unmodified opinion.

The Supervisory Board has raised no objections to the financial statements with which it has been presented. The financial statements and Directors’ Report prepared by the Management Board were verified and confirmed by the Supervisory Board at its meeting on 31 March 2009. The Supervisory Board recommended to the  shareholders’ meeting that they approve the annual accounts and discharge the Management Board from liability with respect to the 2008 financial year.

The Supervisory Board thanks the Management Board and employees of Finanz Informatik Technologie Service GmbH & Co. KG for their work in 2008.

Frankfurt, 31 March 2009