Software AG

1. Quarterly Report 2008



4. Risks and Opportunities

We are subject to acquisition and integration risks based on the acquisitions already implemented and possible new acquisitions. Apart from this, in the first quarter of 2008, there were no changes to the risk situation of the Software AG Group as portrayed in the Risk Report of the 2007 Annual Report.

The related opportunities are detailed in the Outlook section of this report and in the Outlook section of the 2007 Annual Report.