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FINANCIAL SERVICES Division

Annual Report 2006: Postbank at Equity

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12. Consolidated interim financial statements including the Deutsche Postbank Group at equity

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The activities of the Deutsche Postbank Group differ substantially from the ordinary activities of the other companies in Deutsche Post World Net. To enable a clearer presentation of the net assets, financial position and results of operations of the Group, the Deutsche Postbank Group was excluded from full consolidation in the accompanying consolidated interim financial statements for the period ended June 30, 2007. The Deutsche Postbank Group is accounted for in these financial statements only as a financial investment carried at equity.

The accounting treatment differs from the standards required by the IFRSs to the extent that the Deutsche Postbank Group was not fully consolidated, as required by IAS 27, but was accounted for at equity.

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