1/5/00

"Siemens Nixdorf now Wincor Nixdorf"

At the start of the year 2000 Siemens Nixdorf Retail and Banking Systems GmbH commenced operations under the name of Wincor Nixdorf GmbH & Co. KG, a name which expresses its new independence. Following approval by the antitrust authorities, the company was acquired by financial investors Kohlberg Kravis Roberts & Co. Ltd. (KKR) and GS Capital Partners III, L.P. with economic effect from October 1, 1999. KKR, one of the world's largest and most active specialists in management buyouts, holds a majority stake. GS Capital Partners is the private equity arm of U.S. investment bank Goldman, Sachs & Co.

Following the takeover, Wincor Nixdorf has a workforce of over 3,400 with 21 subsidiaries worldwide. In the last five years annual revenues have more than doubled and now total 2.6 billion deutschmarks.

Wincor Nixdorf specializes in IT solutions and products for the retail and banking sectors, also providing the after-sales service for these segments. The company currently occupies no. 3 position worldwide in the retail market and has advanced to take fourth place in automated teller machines.