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Former members of the Siemens-Managing Board prepared to reach a settlement

Siemens is on the point of concluding an agreement with three former members of the Managing Board with respect to the claim for damages in connection with the investigation of the corruption affairs. Siemens and the former members of the Managing Board are concerned to avoid years of conflict over the claims and to regulate the matter to mutual satisfaction.
Klaus Wucherer, Rudi Lamprecht und Edward G. Krubasik are prepared to reach a settlement with Siemens in November 2009 and – in addition to payments from D&O-Insurance and independently of their volume – to each pay the company EUR500,000. This agreement must be approved by the Supervisory Board and the Annual Shareholders’ Meeting.
The company has also been informed by the three former members of the Managing Board that the current legal proceedings against them instigated by the Munich public prosecutor for breaches of their supervisory duties in connection with the corruption issues have already been terminated.
Siemens is also holding talks with the other former members of the Managing Board and expects further agreements to follow in the near future.

For this press release

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 430,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technical achievements, innovation, quality, reliability and internationality. In fiscal 2008, Siemens had revenue of €77.3 billion and a net income of €5.9 billion (IFRS). Further information is available on the Internet at:
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Marc Langendorf

Siemens AG

Wittelsbacherplatz 2
80333 Munich

+49 (89) 636-37035