For us at Wincor Nixdorf, open and proactive communication means seeking direct contact with investors and analysts. The prime objective of our Investor Relations (IR) activities is to pursue a continuous dialog with those involved in the capital markets. We are committed to maintaining the highest possible standards of quality for IR communications and, as such, will continue to provide timely, transparent and intelligible information on the performance of the Company and its strategic direction.

In the fiscal year just ended, we took the opportunity of maintaining our close rapport with existing partners and establishing new contacts as part of 22 roadshows and conferences held in Germany, the U.K., the U.S., Canada, France, Italy, Belgium, Spain, Austria and Switzerland.

We also conducted numerous one-on-one meetings with investors at our headquarters in Paderborn, allowing them to gain more comprehensive insight into Wincor Nixdorf and our portfolio as part of plant visits and product presentations.

Coinciding with our annual “Wincor World” in-house exhibition hosted on January 25, 2006, in Paderborn, we organized the “2nd Wincor Nixdorf Investors' Day”, which featured an extensive range of information for investors and analysts.

In all, the Board of Directors and Investor Relations team met with more than 200 institutional investors. In particular, fund managers from the U.K. and the U.S. showed a strong interest in our Company.

Accompanying the announcement of our financial reports, the Company's financial situation and business performance in the respective segments were discussed at length during several conference calls with analysts and investors.

Shareholders attending the Annual General Meeting held in Paderborn on February 21, 2006, represented over 59% of the Company's voting shares. All resolutions on the agenda were passed with large majorities. The agenda for the 2006 Annual General Meeting and all counterproposals received by the Company have been published on our website at www.wincor-nixdorf.com. The next Annual General Meeting of Shareholders is scheduled for January 29, 2007 and will take place in Paderborn.

All ad hoc announcements, press releases and quarterly reports are published promptly on our website, both in German and English. The website also contains extensive information on our corporate structure, management and strategy, in addition to providing details regarding Corporate Governance and our Annual General Meetings.

Analyst Coverage. At present, the Company is covered by 19 financial analysts who regularly issue comments and recommendations. The number of research companies focusing on our performance has risen by five. These analysts are as follows (in alphabetical order):

ABN Amro, Bankhaus Lampe, Berenberg Bank, B. Metzler, Cazenove, Cheuvreux, Deutsche Bank, DrKW, DZ Bank, Fairesearch, Goldman Sachs, HSBC Trinkaus & Burkhardt, HVB, LBBW, Merck Finck, NORD/LB, Sal. Oppenheim, UBS, WestLB.