Events After the Balance Sheet Date

Software AG restructured the Executive Board areas of responsibility as of January 8, 2007. The traditional database business, ETS, now forms its own division headed by David Broadbent. Moreover, the market has been divided into two sales regions.

Executive Board member Christian Barrios Marchant, previously responsible for the Southern and Western Europe/Latin America region, left the Company effective January 8, 2007.

On February 13, 2007, members of the Executive Board and senior management exercised a total of 327,067 stock options. As a result, the Groups share capital increased by €981 thousand, and the capital reserve by €4,441 thousand.

Annual Report 2006

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