I.
The Supervisory Board and Board of Management of Deutsche Telekom AG submitted a compliance declaration on December 16, 2003, in which the following reservation was made for the 2004 financial year.
"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 exception:
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."
II.
Following the entry in the Commercial Registry on June 2, 2004, of the amendment of Articles of Incorporation adopted at the Shareholders' Meeting of Deutsche Telekom AG on May 18, 2004, item 13 on the Agenda (Amendment of § 13 of the Articles of Incorporation (Remuneration of the Supervisory Board)), the Supervisory Board and Board of Management of Deutsche Telekom AG hereby declare 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), have been complied with without exception.
Bonn, July 28, 2004
This translation is for courtesy purposes only. The German original prevails.
