As regards the 2007 share-based payment program implemented in the fiscal year under review, the applicable quantities and monetary values of share options at the date of grant have been presented in the following table:

The share options attributable to the 2006 and 2007 share-based payment programs are not exercisable as at September 30, 2007. Within the framework of the 2005 share-based payment program, Mr. Karl-Heinz Stiller and Mr. Eckard Heidloff each exercised 15,000 and Mr. Stefan Auerbach 10,000 of the share options held by the aforementioned members of the Board of Directors at the beginning of the fiscal year under review. The settlement of the share options was executed in the form of a cash payment. The cash settlement was calculated on the basis of an average share price of €69.51. There are no other share options attributable to the 2005 share-based payment program.

The total value of the share options at the date of granting was determined by means of the Black-Scholes-Merton options pricing model. Thus, the reported value of share-based compensation is merely to be seen as an amount derived from mathematical calculations. Whether the share-based compensation components associated with the current 2006 and 2007 programs result in a payment, and if so, to what extent, will depend on the future performance of the company’s share price and the future stock market price applicable at the date of exercise.

The personnel expenses recognized in connection with the 2005, 2006 and 2007 share-based payment programs can be distributed among the Board members as follows:

Please refer to 16 in the notes to the Group financial statements for further details about the range of exercise prices, the remaining term of the respective options, the average exercise price of the share options and the average exercise price of the 2005 program during the exercise period, as well as the conditions of option grant and exercise associated with the share-based payment programs.