Debevoise and Deloitte to start their work at Siemens

Debevoise & Plimpton LLP – the law firm retained by the Audit Committee of the Supervisory Board of Siemens AG in connection with current investigations by the Munich Department of Public Prosecution – has already begun their work. They will be assisted by forensic accountants from the international organization Deloitte Touche Tomahtsu. Both companies have committed large and experienced teams to this investigation.

Dr. Gerhard Cromme, Chairman of the Siemens Audit Committee, has met personally with leaders of the investigation team at Debevoise and Deloitte. He reiterated that the Audit Committee has mandated Debevoise as the independent counsel to conduct an independent and comprehensive investigation to determine whether anti-corruption regulations have been violated and to conduct an independent and comprehensive assessment of the compliance and control systems of Siemens. He further stated that the independent quality of this investigation is very important. Debevoise will report exclusively to the Audit Committee.

Dr. Cromme also underlined that the Company will cooperate with law enforcement authorities and regulators. Debevoise has already contacted the US Securities and Exchange Commission (SEC) and the US Department of Justice and will continue to do so on a regular basis throughout the investigation. The Munich counsel of Siemens has informed the Munich State prosecution on the investigation of Debevoise and Deloitte.