The Supervisory Board and Board of Management of Deutsche Telekom AG hereby declare that Deutsche Telekom AG complies with the recommendations of the "Government Commission's German Corporate Governance Code" announced by the Federal Ministry of Justice, with the following exceptions:
Members of the Supervisory Board do not receive performance-related compensation; membership in committees shall be taken into account by granting an attendance fee; committee chairpersons do not receive separate compensation; (5.4.5 of the Code).
Owing to the size of Deutsche Telekom Group and the large number of subsidiaries and associated companies to be included in the annual and quarterly financial statements, it is not possible for the consolidated financial statements to be publicly accessible within 90 days of the end of the financial year and interim reports, within 45 days of the end of the period under review. Both deadlines are exceeded by only a few days, and the aim is to adhere to this deadline in the future (7.1.2 of the Code).
Deutsche Telekom AG publishes a list of its subsidiaries and associated companies annually, which can be requested from the company at any time. In the case of subsidiaries and associated companies that are of major importance to Deutsche Telekom AG and whose revenue and results, together with Deutsche Telekom AG, account for more than 90% of Group revenue and results, not only are the name and registered office of the company published in the annual report, but also the size of the stake held, the amount of equity and income after taxes of the last financial year (7.1.4.) of the Code).
Bonn, December 19, 2002
This translation is for courtesy purpose only. The german original prevails.
