Announcement in accordance with Art. 15 WpHG

Ad-hoc-Announcement: Unqualified audit report for systaic AG’s annual financial statements 2009

On 30 March 2010, auditing firm Deloitte & Touche GmbH conducted its audit of systaic AG’s consolidated financial statements for financial year 2009 in accordance with Section 317 HGB (German Commercial Code) and issued the annual financial statements of the Düsseldorf-based company with an unqualified audit report. The Supervisory Board of systaic AG discussed these findings conclusively this morning and resolved to adopt the audit report in this form.

With the exception of the following qualification, the audit has not led to any reservations: part of the advances paid, trade receivables and other non-financial assets in the amounts of EUR 14.9 million, EUR 76.4 million and EUR 5.2 million, respectively, relate to project development companies of the group of a client of systaic AG. A reasonable assessment of the recoverability of these items was not possible. The trade receivables and other non-financial assets have been collateralised by letters of comfort issued by the project development companies' shareholder.

An instalment plan was agreed upon, which provides for the payment of these receivables between April and August 2010 at the latest. The auditor cannot conclusively assess whether the Group's economic performance will be adequate to meet the requirement. Based on the aforementioned qualification, the Group management report is consistent with the consolidated financial statements prepared in accordance with the legal requirements and as a whole provides a true and fair view of the Group's position and suitably presents the opportunities and risks of future development. systaic AG’s annual report 2009 will be published today.