Major Subsidiaries

The following table gives an overview about the significant subsidaries, joint ventures and associates of Deutsche Post World Net as of December 31, 2007.

Major subsidaries

Significant subsidiaries, joint ventures and associates

	Country	Equity interest and share of voting rights		Revenue 1)
		31 Dec. 2006 %	31. Dec. 2007 %	2006 €mn	2007 €mn
Significant subsidiaries
MAIL
DHL Vertriebs GmbH & Co. OHG	Germany	100.00	100.00	1,576	1,597
Global Mail Inc.	USA	100.00	100.00	647	556
Williams Lea Limited	UK	66.15	66.15	336	484
Williams Lea Inc.	USA	66.15	66.15	182	249
DHL Global Mail (UK) Ltd.	UK	–	100.00	–	172 2)
Koba SA	France	100.00	100.00	41	113
The Stationery Office Limited	UK	–	66.15	–	106 3)
Williams Lea Inhouse Solutions GmbH	Germany	100.00	100.00	71	81
Interlanden B.V.	Netherlands	100.00	100.00	71	73
Deutsche Post Customer Service Center GmbH	Germany	100.00	100.00	69	69
Deutsche Post Selekt Mail Nederland C.V.	Netherlands	51.49	51.49	64	65
EXPRESS/LOGISTICS
Exel Europe	UK	100.00	100.00	2,303	3,283
DHL Express (USA) Inc.	USA	100.00	100.00	3,359	3,127
Air Express International USA Inc.	USA	100.00	100.00	1,574	1,848
Exel Inc.	USA	100.00	100.00	1,420	1,508
DHL Freight GmbH	Germany	100.00	100.00	1,307	1,434
DHL Express (France) SAS	France	100.00	100.00	988	999
DHL Global Forwarding GmbH	Germany	100.00	100.00	625	964
DHL Express (Sweden) AB	Sweden	100.00	100.00	901	957
DHL Express (Italy) S.r.L.	Italy	100.00	100.00	851	891
Danzas Z.F. Freight Agency Co. Ltd.	China	100.00	100.00	444	719
DHL Express (UK) Ltd.	UK	100.00	100.00	526	714
Exel UK Ltd.	UK	100.00	100.00	795	708
DHL Global Forwarding (UK) Ltd.	UK	100.00	100.00	426	687
DHL Express (Netherlands) B.V.	Netherlands	100.00	100.00	390	682
DHL Global Forwarding (HK) Ltd.	China	100.00	100.00	451	628
DHL Solutions GmbH	Germany	100.00	100.00	612	623
DHL International (UK) Ltd.	UK	100.00	100.00	582	607
DHL Express Germany GmbH	Germany	100.00	100.00	557	581
DHL Express Iberia S.L. (Gruppe)	Spain	100.00	100.00	549	533
Exel Transportation Services Inc.	USA	100.00	100.00	570	490
DHL Global Forwarding (Italy) S.p.A.	Italy	100.00	100.00	469	479
DHL Danzas Air & Ocean (France) SAS	France	100.00	100.00	423	477
DHL Sinotrans International Air Courier Ltd.	China	51.68	51.68	416	458
DHL Exel Supply Chain (Spain) S.L.	Spain	100.00	100.00	359	420
DHL Global Forwarding (Sweden) AB	Sweden	100.00	100.00	211	411
DHL Logistics (Switzerland) AG	Switzerland	100.00	100.00	233	400
FINANCIAL SERVICES
Deutsche Postbank AG (Group)	Germany	50.00 + 1 Aktie	50.00 + 1 Aktie	9,525	10,344
SERVICES 4)
Significant joint ventures 5)
Exel-Sinotrans Freight Forwarding Co. Ltd.	China	50.00	50.00	316	211
Express Couriers Ltd.	New Zealand	50.00	50.00	72	84
AeroLogic GmbH	Germany	–	50.00	–	– 6)
Significant associates
Polar Air Cargo Worldwide Inc.	USA	–	49.00/25.00		7)
Air Hong Kong Ltd.	China	40.00	40.00

1) IAS amounts reported in single-entity financial statements.
2) Transfer of operations of several companies to DHL Global Mail (UK) Ltd. after merger.
3) Acquired on 10 January 2007.
4) Almost exclusively internal revenue.
5) Proportionate amounts.
6) Established on 26 September 2007. Start of aircraft movement operations planned for April 2009.
7) Acquired on 25 June 2007.

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