I.
The Supervisory Board and Board of Management of Deutsche Telekom AG hereby declare that, in the period since submission of last year's compliance declaration pursuant to § 161 of the German Stock Corporation Act on December 19, 2002, Deutsche Telekom AG has complied with the recommendations of the Government Commission for a German Corporate Governance Code announced by the Federal Ministry of Justice on November 26, 2002 in the official section of the electronic Federal Gazette (Bundesanzeiger), with the following exceptions:
Members of the Supervisory Board have not received performance-related compensation. Membership in committees was acknowledged by granting an attendance fee; committee chairpersons did not receive separate compensation (Para. 5.4.5 of the Code).
The consolidated financial statements were not made publicly accessible within 90 days of the end of the financial year and the interim reports were not made publicly accessible within 45 days of the end of the period under review (Para. 5.4.5 of the Code).
II.
The Supervisory Board and Board of Management of Deutsche Telekom AG hereby declare further that Deutsche Telekom AG has complied with the recommendations of the Government Commission for a German Corporate Governance Code announced by the Federal Ministry of Justice on July 4, 2003 in the official section of the electronic Federal Gazette (Bundesanzeiger), with the following exceptions:
Members of the Supervisory Board do not receive performance-related compensation; Membership in committees shall be acknowledged by granting an attendance fee; committee chairpersons do not receive separate compensation (Para. 5.4.5 of the Code). The Board of Management and the Supervisory Board intend, however, to propose to the next Shareholders' Meeting on May 18, 2004 that the remuneration of the Supervisory Board as prescribed in the articles of incorporation be amended to comply with the Code.
Bonn, December 16, 2003
This translation is for courtesy purposes only. The German original prevails.
