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Siemens assists fraud investigation and pledges close cooperation with police


Munich, Nov 15, 2006 - Police and prosecutors today searched about 30 Siemens locations in Munich and Erlangen. As the state prosecutorís office announced, a still undetermined number of individual acts of fraud are suspected at the companyís fixed networks business. At issue, according to current information, is an amount in the low double-digit million euro range. A total of six former and current company employees are suspected in the case. Siemens is a witness.

Details cannot be provided because the investigation is ongoing. Siemens would like to make it quite clear at this juncture that it is very interested in having the matter completely cleared up. The company is therefore fully supporting the police investigation.

In the context of this incident, Siemens would like to point out that it has Business Conduct Guidelines that provide company-wide principles for conducting business that are mandatory for all employees. These guidelines include clear instructions for employees to obey the law and are a component of every employee contract.

Reference number: AXX200611.23 e


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