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Accounting & Auditor

Accounting

The consolidated financial statements of IDS Scheer AG and its subsidiaries were prepared according to the standards of Generally Accepted Accounting Principles ("US GAAP") including fiscal year 2004. As in past years, IDS Scheer AG has prepared a separate year-end financial statement for the parent company unit according to accounting regulations of the German Commercial Code (HGB) in addition to the group statement prepared according to U.S. GAAP.

At the beginning of fiscal year 2005, IDS Scheer AG changed its accounting procedures over to International Financial Reporting Standards (IFRS), thereby implementing the requirements of the Accounting Legislation Reform Act of December 4, 2004, for consolidated financial statements of capital-market companies. The company continues to prepare separate annual financial statements for the legal unit of the parent company according to accounting regulations of the German commercial code (HGB).

Source: Annual Report 2004, page 39 and 60; Interim Report January - September 2005, page 5

Auditor

On May 20, 2008, the general shareholders’ meeting of IDS Scheer AG appointed the auditing firm of PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft, Saarbrücken, as the auditor for the annual financial statements and consolidated annual financial statements for the fiscal year of January 1, 2008 to December 31, 2008.