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Risks and opportunities

Software AG is subject to the risks inherent in company acquisition and integration based on past acquisitions and possible future acquisitions. Apart from this, there were no changes in the second quarter of 2009 to the risk situation of the Software AG Group from that portrayed in the Risk Report of the 2008 Annual Report.

The related opportunities are detailed in the Outlook section of this report and in the Outlook section of the 2008 Annual Report.