Changeover Of German Securities ID Numbers To ISIN Completed

Deutsche Börse has successfully completed the changeover of German securities identification numbers (WKN) to the uniform ISIN format (International Securities Identification Number). Even before the official deadline for the introduction of ISIN on April 22, 2003 by the central institution in charge of issuing and administrating securities in Germany ("Wertpapier-Mitteilungen"- WM), the Deutsche Börse Group has already completed all changeover activities in its trading, information and clearing and settlement systems. The replacement of the six-digit German securities identification number with the internationally valid 12-character ISIN format will enable investors to identify securities clearly around the world. This will facilitate cross-border securities trading, clearing and settlement as well as the admission of securities to trading.

Deutsche Börse began the changeover to ISIN in November 2000 in a multiple-stage process. First, all relevant systems and applications were determined in the framework of a planning study, as well as the sequence of changeover activities that would be required. At the end of the fourth quarter of 2001 the exchange changed over the individual systems and applications to ISIN, step by step, starting with the central securities master data system. Comprehensive internal and external tests with customers of the Group ensured a smooth transition to the new identification number. The multiple stage process reduced potential risks, as compared with a "big-bang" approach. Since the end of November, ISIN is now the relevant identification number for the entire process chain from trading through clearing and settlement.

The exchange will continue to support the German securities identification number (WKN) on a parallel basis until the changeover has been made by the company Wertpapier-Mitteilungen as of April 22, 2003.

The ISIN is a 12-character code consisting of three components. A two-digit country code-such as DE for Germany-is followed by a national (local) code number with nine digits. The third component is a single numerical check digit. ISIN numbers are issued centrally in each country.