At the meeting on 5 May 2008, we dealt in detail with the situation of the US express business.

The terms of office of the employee representatives appointed to the Supervisory Board by the assembly of delegates pursuant to the Mitbestimmungsgesetz (MitbestG – German co-determination act) commenced upon the close of the AGM of Deutsche Post AG on 6 May 2008. At the Supervisory Board meeting directly following the AGM, Andrea Kocsis was re-elected deputy chair of the Supervisory Board, deputy chair of the Executive Committee and chair of the Personnel Committee. Wolfgang Abel was appointed member and deputy chair of the Finance and Audit Committee, Thomas Koczelnik and Helga Thiel were appointed members of the Finance and Audit Committee, Rolf Bauermeister and Stefanie Weckesser were appointed members of the Executive Committee, Thomas Koczelnik was appointed member of the Personnel Committee and Rolf Bauermeister was additionally appointed member of the Mediation Committee of the Supervisory Board of Deutsche Post AG by the employee representatives. 

In another special meeting on 28 May 2008, we approved the restructuring of the US express business following extensive discussions.

In June 2008 we approved in a written resolution the request of Dr Wolfgang Klein to step down temporarily as member of the Board of Management of Deutsche Post AG in order to avoid any potential conflicts of interest that might arise during a possible reorganisation of the shareholder structure of Deutsche Post AG. The duties of the Board of Management members were reallocated to allow Dr Frank Appel to assume responsibility for the FINANCIAL SERVICES Division in addition to his position as chairman of the Board of Management for the time during which Dr Klein had ceased active participation.

In the Supervisory Board meeting of 12 September 2008, we dealt in detail with the situation of the express business in the US. We also approved the gradual sale of the shares in Postbank to Deutsche Bank. The contracting parties subsequently negotiated a contract that best serves the interests of both sides. The new contract stipulates that Deutsche Post will receive the entire proceeds from the transaction on the closing date – i. e., three years earlier than originally anticipated – including the proceeds from the Postbank shares that will not be transferred until a later date. This has not increased overall transaction risk. We approved the changes in the transaction structure on 14 January 2009.

In another special meeting on 26 October 2008, the Supervisory Board addressed in detail the proposed share purchase to ensue from a possible capital increase of Deutsche Postbank AG and approved the subscription of 100% of the shares issued.

In a special meeting that followed on 10 November 2008, we approved our exit from the domestic US express business, including the costs that this will entail. In the future, Deutsche Post World Net will focus on its international core competencies in the US express market. The exit from the market occurred as planned in January 2009.

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