The Group’s business activities are accompanied by a number of opportunities and risks that go hand-in-hand with business operations. With our Group-wide opportunity and risk control, we can identify, analyze and evaluate these at an early stage, as well as support their efficient management and thus the company’s success. Information about the Group’s opportunity and risk control system as well as its risk position can be found in the 2006 Annual Report.

With regard to the risks of Postbank, we refer to the 2006 Annual Report of Deutsche Postbank AG as well as its interim report as of March 31, 2007.

Macroeconomic risks
Our business activities are affected by the macroeconomic situation in individual countries and their trade relations with each other. We currently do not consider the Group as a whole to be exposed to any significant macroeconomic risks.

Overall assessment of the Group’s risk position
Compared with the opportunities and risks presented in detail in the 2006 Annual Report, no significant additional risks arose for the Group in the first three months of 2007. There are currently no identifiable risks that, individually or collectively, could endanger the continued existence of the company.