HOCHTIEF has always based its actions on nationally and internationally accepted standards for good and responsible corporate governance. Corporate governance is a central concern for HOCHTIEF and all parts of the Company. In March 2007, the Executive Board and Supervisory Board submitted the Compliance Declaration pursuant to Section 161 of the German Stock Corporations Act (AktG) showing that HOCHTIEF continues to comply with all recommendations of the German Corporate Governance Code.

Private investors are kept abreast of current developments in the HOCHTIEF Group through our website, where we also publish all press releases and ad-hoc disclosures. This ensures maximum transparency and, as required by the Code, that all shareholders and investors have access to the same information at the same time.

Shareholders are alerted to important dates by the financial calendar published in our annual report and quarterly reports as well as on the Company website. Two annual meetings for analysts and investors are supplemented by telephone conferences when our quarterly results are published. It has long been standard practice at HOCHTIEF to make recordings of these conferences available on the corporate website.

HOCHTIEF has a long-standing tradition of making it easy for shareholders to exercise their rights at general meetings. They can vote in person, appoint a representative of their choice to vote on their behalf or authorize a Companyappointed proxy to vote according to instructions. Shareholders unable to attend a general meeting can follow the entire proceedings in a webcast. Prior to the general meeting, the annual report and the meeting invitation provide shareholders with full information on the preceding fiscal year and about all items on the agenda. All documents and information relating to the general meeting are additionally made available together with the annual report on our website.