The Group

Changes in portfolio and reporting

In financial year 2007, our portfolio changed as follows:

• On 10 January 2007, our Group subsidiary Williams Lea acquired 100% of the shares of the UK company The Stationery Office Holdings Ltd.
• On 8 June 2007, we acquired a 49% shareholding in the US-American air freight company ASTAR Air Cargo Holdings LLC; this has been included in full in the consolidated financial statements.
• On 25 June 2007, we acquired 49% of the share capital of the US-American company Polar Air Cargo Worldwide, Inc.; the company has been included as an associate in the consolidated financial statements.
• On 31 December 2007, we purchased all shares in the Israeli company FC (Flying Cargo) International Transportation Ltd., Tel Aviv.
• The waste management company Vfw AG was sold effective 2 March 2007.
• The Deutsche Postbank Group dissolved and deconsolidated the special funds of BHW Bausparkasse AG as at 31 August 2007.
• BHW Lebensversicherung AG, including its special funds, and the 50% holding in PB Versicherung AG and PB Lebensversicherung AG were sold as at 30 September 2007.
• On 1 October 2007, the Dutch Dedicated Distribution Service B.V. and the Belgian Van Osselaer-Pieters Colli Service B.V.B.A. were sold to Österreichische Post AG.

The prior-year figures have been adjusted to reflect the following changes in segmentation: At the beginning of 2007, we removed the parcel business in Germany from the EXPRESS Division and transferred it to the MAIL Division. The year before we had already transferred the European overland transport business from the EXPRESS Division to the LOGISTICS Division. Details of these changes can be found in Segment reporting disclosures.