De Lage Landen to acquire Siemens Leasing Kft and Siemens Finance Zrt.

Eindhoven, The Netherlands, 1 April 2008 —  De Lage Landen announced today that it has reached an agreement with Siemens to acquire Siemens Leasing Kft. and Siemens Finance Zrt. in Hungary. The acquisition is subject to regulatory approvals and is anticipated to complete before the end of March 2008. With 18 employees, Siemens Leasing Kft. and Siemens Finance Zrt, focus on Healthcare, Office Equipment, IT, Communication and other Industrial Equipment segments in Hungary.

Commenting on the acquisition, Dr Marec Béla Steffens, Chief Financial Officer of Siemens Zrt. in Hungary said: “We believe that our businesses are a very good fit and that our customers will benefit from this development. Together, we look forward to taking advantage of the new opportunities this will create for both Siemens and De Lage Landen in Hungary.”

Carlo van Kemenade, Chief Operational Officer, De Lage Landen Europe: “In the transportation segment, we have already successfully started up activities in Hungary and Romania with Cargobull Finance, our joint venture with Schmitz Cargobull, the leading trailer manufacturer in Europe. The Siemens Leasing Kft. And Siemens Finance Zrt. acquisition positions us very well to enter into other strategically important industry segments in Hungary like Office Equipment, IT, Materials Handling & Construction Equipment, Agriculture and Healthcare. Moreover it can be the foundation for potentially starting up car lease activities for our subsidiary Athlon Car Lease. This acquisition fits perfectly with our expansion policy in Europe where there is a specific focus on further expansion into Central Eastern Europe.”

Jonathan Andrew, Head of Equipment Financing of Siemens Financial Services in Europe and Asia Pacific commented, “We are confident that DLL will work with Siemens in Hungary to provide competitive financial solutions to our customers. Our strategy for serving Siemens customers throughout the globe is to combine both our own expertise at a local and regional level, with that of strategic financing relationships.”

For more information:

Siemens Financial Services
Sr Hartmut Huebner, Siemens Financial Services Corporate Communications
Tel: +49 (89) 636-34183

De Lage Landen
Ms Lineke Schouwstra, Vice President Corporate Communications De Lage Landen
Tel: +31 (40) 233 9084