Significant risks capable of threatening the attainment of our budgeted earnings figures are largely associated with the liberalisation of the German mail market. Our risk situation is also affected by fierce competition in our other markets and businesses. The volume of the markets we serve primarily depends on the development of the world economy and cyclical trends in individual countries. In the past financial year, there were no identifiable risks for the Group which, individually or collectively, cast significant doubt upon the company’s ability to continue as a going concern. Nor are any such risks apparent in the foreseeable future. For a description of the risk position of Deutsche Postbank AG, please refer also to the Postbank Group’s .