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Company statute Hrb26 Sept 2007 German Trade Register Announcements, Germany (24/09/2007)

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Gebhard & Co. Wertpapierhandelsbank AG, Gräfelfing (Ungenannte Str. ??, 82166 Gräfelfing, Germany). The Annual General Meeting of August 21, 2007 decided to create a Conditional Capital and to amend Sections 3 (Share Capital) and 24 (Announcement) of the Articles of Association. The share capital of the company is conditionally increased by up to EUR 360,000.00 by resolution of the Annual General Meeting on August 21, 2007 (Conditional Capital 2007/I). The Conditional Capital is used to grant option rights in accordance with the Employee Option Program from the same day.

This filing was translated from German to English. The filing refers to a past date, and does not necessarily reflect the current state. The current state is available on the following page: IPG Investment Partners Group AG, Munich, Germany.

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