Share repurchase 2007

Based on an authorisation granted by shareholders at the Annual Meeting on 28 March 2007, the Board of Management of Deutsche Beteiligungs AG passed a resolution on 14 June 2007 to repurchase shares in the Company. Gerling Life Insurance, one of the two remaining principal shareholders that had owned a 10.4 percent interest at that time, announced its intention to withdraw its holdings in Deutsche Beteiligungs AG entirely and offered to sell 750,000, equating to 4.95 percent of the shares outstanding, for 24.38 euros per share. The Board of Management accepted the offer, pursuant to the authorisation granted by shareholders at the Annual Meeting. "We are purchasing shares for a price considerably below current stock price levels and, moreover, will be keeping the market capitalisation of the free float constant," said Spokesman of the Board of Management Wilken von Hodenberg following the completion of the agreement. "The share buyback is an investment in our portfolio – we feel confident that this portfolio will develop within the next twelve months to the extent that the net asset value per share will exceed the purchase price agreed for the shares today."

The repurchased shares were retired, effective 30 July 2007.