Siemens and insolvency administrator for BenQ Mobile reach agreement

(PresseBox) (München, ) Siemens and the BenQ Mobile GmbH & Co. OHG Insolvency Administrator, Martin Prager, have reached a settlement after constructive discussions that began in 2006. In the settlement agreement, Siemens agreed to a gross payment of 300 million Euro, which is expected to result in a net payment of approximately EUR 255 million after taking into account Siemens' creditor claims. Since Siemens has made a sufficient provision for the expected settlement, the settlement will not have any negative impact on results of operations for the current fiscal 2009.

Siemens AG

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 430,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2008, Siemens had revenue of 77.3 billion Euro and income from continuing operations of 5.9 billion Euro (IFRS). Further information is available on the Internet at: www.siemens.com.

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