DocCheck AG — Interim / Quarterly Report 2006

Nov 30, 2006

1 Overview

Quick Figure

• 33 % increase in sales when compared to the same quarter in the previous year
• 140 % increase in EBIT in the fi rst nine months when compared to the same period in the previous year
• 10 cent profi t per share in the fi rst nine months
• Increase in the sales forecast for 2006, rising from 12.3 million euro to 12.8 – 13 million euro. This corresponds to an increase of 14 – 16 % when compared to 2005.

Highlights

• Internationalisation: DocCheck co-operation France
• DocCheck.de: third largest online medical information provider in Germany (IVW-Ranking)
• DocCheck Newsletter: most read electronic publication for German doctors (LA-MED)
• antwerpes + partner: more well-known pharmaceutical companies have been added to the list of key accounts
• antwerpes + partner becomes a GWA member (Gesamtverband Kommunikationsagenturen)
• 2 Golds with the annual report 2005 at the ARC Awards, New York, the top international design prize for annual reports

Company in brief

DocCheck AG has specialised in the growth market that is healthcare. The agency, portal and trading business is managed under the two brands DocCheck and antwerpes + partner. In 2005 the corporate group, with about 120 employees in Cologne, Basle and Stuttgart, generated sales totalling 11.2 million euro. DocCheck AG is listed in the Prime Standard of the Frankfurter stock exchange (ISIN: DE0005471007 // Symbol: 547100).

Financial Calender

28 November 2006	Analysts' Conference in Frankfurt / Main
Quarterly Report	01/07/2006 -30/09/2006	01/07/2005 -30/09/2005	Change
	€	€	%
Sales	3,269,111	2,450,801	33%
of which antwerpes + partner sales	1,708,355	1,378,589	24%
of which DocCheck sales	1,560,367	1,072,212	46%
Overall performance	3,328,289	2,499,809	33%
EBITDA	308,342	224,051	38%
EBIT	201,309	137,552	46%
Consolidated annual net income	174,143	174,199	0%
Annual net income per share	0.03	0.03	0%
Liquid assets/securities	15,439,846	15,748,289	-2%
Number of employees as at 30.09.2006	113	78	45%

Indicators (Position as at 30/09/2006)

Share facts ISIN: DE0005471007 Segment: Prime Standard Reuters: ANWG.G Sector: Software Bloomberg: AJ9 Price: 3.90 EUR Internet: www.doccheck.de Number of shares: 5.90 Mio. High/Low 3rd Quarter: 4.35/3.63 EUR MarketCap: 23.03 Mio. EUR

Shareholder structure

Shareholders	%
Free Float*	31.17
Dr. Frank Antwerpes	47.56
Jan Antwerpes	13.95
Dr. Johannes Kersten	7.32

* Calculation according to the German Stock exchangee

Nine-month Report	01/07/2006 -30/09/2006	01/07/2005- 30/09/2005	Change
	€	€	€
Sales	9,433,929	7,956,123	19%
of which antwerpes + partner sales	4,855,093	3,816,210	27%
of which DocCheck sales	4,577,803	4,139,913	11%
Overall performance	9,655,687	8,019,738	20%
EBITDA	923,502	523,460	76%
EBIT	616,169	256,960	140%
Consolidated annual net income	551,812	393,336	40%
Annual net income per share	0.10	0.07	42%
Liquid assets/securities	15,439,846	15,748,289	-2%
Number of employees as at 30.09.2006	113	78	45%

Orders on hand

The orders on hand total 2 million euro as at 30 September 2006.

Change in the management structure of antwerpes + partner ag

The following changes in the management structure of the subsidiary antwerpes + partner ag were implemented with effect from 15 July 2006. The chairman of the Board of Directors to date, Dr. Frank Antwerpes, has moved over from the Board of Directors to the Advisory Board. Tanja Antwerpes takes over the chairmanship of the Board of Directors and Jan Antwerpes becomes a Board member. The composition of the Board of Directors of DocCheck AG is not affected by this.

Share buy-backs

In an ad hoc press release on 7 September 2006, DocCheck AG announced that it was repurchasing up to a maximum of 100,000 of its own shares exclusively via the stock exchange. This equates to 1.7 per cent of the capital stock. The basis for the share buy-back is the resolution passed at the annual general meeting on 31 May 2006 when, under Point 8 on the agenda, the company was empowered to purchase up to 590,431 of its own shares.

Authorisation became effective on 13 June 2006 and is valid until 30 November 2007. The purchase price paid per share (excluding incidental purchase costs) must not go more than 10 per cent above or below the price of a company share in Xetra as determined by the opening auction on the same trading day. The shares are purchased via a bank which guarantees adherence to the Safe Harbour Regulations of the German Securities Trading Act and to the EU Directive 2273/2003. The purchase of the shares began on 11 September 2006.

2 Management Report

DocCheck Division

With over 450,000 registered members and over 1200 cooperation partners from the whole of the health sector, DocCheck is the largest and fastest growing portal for medical specialist groups in Europe. DocCheck is constantly developing new services which allow transactions between users and the industry: online market research, ePublishing, Customer Relationship Management, IPTV and paid content are currently the most important business models. In addition, the affi liated DocCheck Shop sells medical supplies to doctors in private practice via the mail order business, the Internet Shop under www.doccheckshop.de and through its own sales force. Under the DocCheck label, the Shop has its own product line with over 100 items available.

Sales for the DocCheck Division reached 4.58 million euro in the fi rst nine months which represents an 11 per cent increase when compared to the same period in the previous year. In future the DocCheck Division will benefi t from the radical changes taking place in the pharmaceutical market. Politically induced cost reductions as well as the expiry of the patent protection of the socalled "Blockbusters" (medicines with an annual turnover of over one billion dollars) present pharmaceutical companies with a new situation. With new marketing and sales approaches on the Internet, DocCheck is able to offer its customers a solution when faced with these challenges.

antwerpes + partner Division (Communication)

antwerpes + partner ag represents the agency business of the DocCheck Group. The agency develops integrated communications solutions for the healthcare sector. Marketing know-how in the healthcare market and expertise in classical and digital communications enable antwerpes + partner to work for customers cross-medially and to implement multi-channel strategies.

As an integrated service provider, antwerpes + partner is fully prepared for the future. The "Frankfurter Allgemeine Zeitung" declared in a market review that only agencies with this strategic orientation will grow and expand and that traditional advertising agencies will become old hat. The fi gures for antwerpes + partner also confi rm this. A sales increase of 27 per cent, taking the fi gures to 4.86 million euro in the fi rst nine months, obviously exceeds the rate of growth for the sector which is expected to be 4.2 per cent.

The integrated work of DocCheck and antwerpes + partner enables the DocCheck Group to manage the complete communications value chain of the healthcare market – from development of innovative products and services, via appropriate communications concepts through to the target group, using cross media communications. This enables the DocCheck Group to create its unique selling proposition to the healthcare market. In terms of sales, it is the largest owner-managed provider of communications services in this sector ensuring it is in an optimal position to benefi t from growth and expansion within the pharmaceutical market in the future.

According to IMS Health, this growth rate will be fi ve to eight per cent per annum.

3 Balance Sheet

Group Balance Sheet in accordance with IFRS

Assets	01/01/2006 -30/09/2006	01/01/2005 -31/12/2005
	€	€
Short-term assets
Liquid funds	729,863	2,230,712
Current-asset securities	14,709,983	14,868,800
Trade debtors	2,227,859	1,403,455
Amounts owed by group undertakings	0	41,528
Stocks	950,117	405,986
Prepaid expenses and deferred charges	31,196	24,114
Total short-term assets	18,649,018	18,974,595
Tangible fi xed assets	1,486,496	1,219,433
Intangible fi xed assets	94,274	92,144
Participating interests	119,350	70,694
Goodwill	697,617	697,617
Other assets	783,826	581,267
Deferred taxes	29,000	3,300
Total assets	21,859,582	21,639,050

Equity and liabilities	01/01/2006 -30/09/2006	01/01/2005 -31/12/2005
	€	€
Short-term liabilities
Short-term loans and short-term share in long-term loans	0	4,022
Trade creditors	383,672	410,656
Payments received on account	978,047	1,070,170
Other provisions for liabilities and charges	618,855	523,598
Tax provisions	251,391	66,273
Deferred income and other short-term li abilities	627,913	626,912
Amounts owed to group undertakings	40,267	12,462
Total short-term liabilities	2,900,144	2,714,093
Deferred taxes	66,000	101,600
Capital and reserves
Subscribed capital	5,904,312	5,904,312
Capital reserve	13,328,524	13,328,524
Net earnings/net loss	2,953,290	2,878,859
Revenue reserves	71,700	71,700
Capital adjustment items	-3,245,570	-3,245,570
Other comprehensive income	-38,945	32,509
Own shares	-396,144	-411,449
Minority shareholdings	316,271	264,472
Total capital and reserves	18,893,438	18,823,357
Total equity and liabilities	21,859,582	21,639,050

Explanatory notes on the balance sheet

The nine-month report as at 30 September 2006 has been prepared on the basis of the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB), London, which were in force on the cut-off date, as well as on the basis of the interpretations of the

International Financial Reporting Interpretations Committee (IFRIC) of the IASB, London. The accounting and evaluation methods from the annual fi nancial statements as at 31 December 2005 were used with no changes made.

• 1. During the 3rd quarter of 2006, liquid funds were invested for the most part as time deposits with variable terms.
• 1. As at 30 September 2006, the current-asset security holdings consist of two mortgage bonds and two loans against promissory notes. According to IAS 39, securities falling within the category "available for sale" are to be evaluated at fair value (market price). The fair value changes are fi rst of all recorded in the capital and reserves in a special revaluation reserve with no effect on the operating result until that point in time when the securities are taken out of the accounts.
• 1. With the exception of DocCheck TV GmbH, whose shares were offset in accordance with the acquisition method pursuant to IFRS 3, the shares in the fully consolidated subsidiaries were offset, pro rata to their holding in accordance with the book value method, against the capital of the companies at the time of the initial consolidation. This resulted in the following goodwill:

Company	Goodwill from the initial consolidation	Book value as at 30/09/2006	Book value as at 30/09/2005
	€	€	€
DocCheck Medical Services GmbH	29,340	17,238	17,238
DocCheck Medizinbedarf und Logis tik GmbH	755,956	401,990	401,990
medicalpicture GmbH	92,452	81,666	81,666
medizinstudent.de GmbH	181,609	50,523	50,523
DocCheck TV GmbH	154,572	146,200	146,200
	1,213,929	697,617	697,167

• 1. DocCheck Medizinbedarf und Logistik GmbH, Weil im Schönbuch, a subsidiary of DocCheck AG, has on 27.04.2006 increased its share in Albert Geisselmann Medizinbedarf GmbH, Eilenburg, from 33.3 per cent to 84.6 per cent with fi nancial effect from 01.07.2006. The purchase price for the acquisition of the shares was paid in cash. The acquisition costs amounted to 182 thousand euro. Consequently, the nine-month fi nancial statements for DocCheck Medizinbedarf und Logistik GmbH were prepared with the inclusion for the fi rst time of the consolidation of Albert Geisselmann Medizinbedarf GmbH, Eilenburg.
• 1. Other assets are largely made up of deferred interest and taxes.
• 1. In other provisions, transfers essentially took place within provisions for holidays, bonuses and shares in profi ts. In addition, provisions were made for end-of-year accounting and audit costs. As they stand now, these provisions ensure that there is a realistic deferment of expenditure for the current fi nancial year.

• 1. Other liabilities are mainly made up of tax liabilities (sales tax, income tax and church tax), contributions relating to salaries and wages and doctors' fees which are still to be paid.
• 1. The adjusting item concerns own shares as held by DocCheck AG.

Following the resolution passed at the annual general meeting on 31 May 2006, the company was empowered to buy back up to 590,431 of its own shares. On the basis of this resolution, the company purchased 5,098 of its own share certifi cates in the 3rd quarter of 2006. The holdings of own shares as at

30 September 2006 consist of 96,598 individual share certifi cates and account for a total of 96,598 euro of the capital stock. As at 30 September 2006 the market price was 376,732 euro. In accordance with IAS 32.33, own shares are to be shown in the balance sheet at cost and as a deduction from equity capital. When selling own shares, the profi t is not to be shown in the profi t and loss account but as a change to the capital and reserves.

1. The other comprehensive income amounting to -39 thousand euro contains the fair value changes from the current-asset securities netted out by the deferred taxes apportionable to them.

4 Group Profi t and Loss Account

Group Profit and Loss Account in accordance with IFRS	01/07/2006 -30/09/2006	01/07/2005 -30/09/2005	01/01/2006 -30/09/2006	01/01/2005 -30/09/2005
	€	€	€	€
1. Sales (net)	3,269,111	2,450,801	9,433,929	7,956,123
2. Other operating income	25,071	29,770	102,991	112,596
3. Differences between opening and closing stocks of fi nished and unfi nished goods	59,178	49,008	221,759	63,615
4. Cost of materials
a) Cost of raw materials and supplies and purchased goods	767,517	579,971	2,397,951	2,225,513
b) Cost of external services	316,533	301,059	1,094,771	920,554
Total cost of materials	1,084,050	881,030	3,492,722	3,146,067
5. Staff costs
a) Wages and salaries	1,092,044	831,690	2,991,304	2,547,414
b) Social security contributions	194,798	153,582	510,834	432,925
Total staff costs	1,286,842	985,272	3,502,138	2,980,339
6. Amortisation of intangible fi xed assets and depreciation of tangible fi xed assets	107,033	86,499	307,333	266,499
7. Other operating expenses	663,356	439,226	1,838,414	1,482,468
8. Income from participating interests	-10,769	0	-1,902	0
9. Operating result (EBIT)	201,309	137,552	616,169	256,960
for information: EBITDA	308,342	224,051	923,502	523,460
10. Interest and similar income	132,259	111,552	411,669	416,346
11. Write-downs on long-term investments and current-asset securities	13,455	13,788	39,926	41,490
12. Interest and similar expenses	1,627	2,290	4,803	6,022
13. Result before tax (and minority shareholdings)	318,487	233,026	983,109	625,795
14. Personal income tax and tax on earnings	144,060	76,991	399,774	250,721
15. Other taxes	162	312	649	1,604
16. Result before minority shareholdings	174,264	155,723	582,686	373,470
17. Minority shareholdings	122	-18,475	30,874	-19,866
18. Consolidated annual net income	174,143	174,199	551,812	393,336
19. Net earnings per share in accordance with IAS 33 (undiluted)	0,03	0,03	0,10	0,07
20. Net earnings per share in accordance with IAS 33 (diluted)	0,03	0,03	0,06	0,07
21. Average shares currently in circulation (undiluted)	5,812,370	5,842,163	5,807,152	5,875,800
22. Average shares currently in circulation (diluted)	5,813,870	5,852,163	5,814,163	5,885,800

• 1. Net sales are showing an increase of 19 per cent to 9,434 thousand euro when compared to the fi rst nine months of the previous year (previous year: 7,956 thousand euro). According to IAS 11 in conjunction with IAS 18, turnover includes order projects estimated as being 375 thousand euro (previous year: 341 thousand euro) in accordance with the Percentage of Completion Method.
• 1. Other operating income is mainly made up of rent income and income from the release of provisions.
• 1. The marked increase in employees when compared to the same period in the previous year is causing the increase in staff costs.
• 1. The increase in other operating expenses when compared to the same period in the previous year mainly results from trade fair and advertising costs.
• 1. The profi t per share for the fi rst nine months of 2006 was, in accordance with IAS 33, 10 cent (previous year: 7 cent).

5 Statement of sources and application of funds

(in euro)	Statement of sources and application of funds	01/01/2006 -30/09/2006	01/01/2005 -30/09/2005
		€	€
	Surplus for the period before extraordinary profi t	551,812	393,336
	of which funds received from interest	411,669	416,346
	of which funds paid as interest	4,803	6,022
+	Amortisation of intangible fi xed assets and depreciation of tangible fi xed assets	307,333	266,499
+	Loss from the addition and disposal of fi xed assets	2,709	0
+/-	Increase/decrease in provisions	280,375	-120,815
-/+	Increase/decrease in trade debtors	-782,876	-299,960
-/+	Increase/decrease in other assets	-202,559	133,465
-/+	Increase/decrease in stocks	-544,131	-229,393
-/+	Increase/decrease in prepaid expenses and deferred charges	-7,082	22,679
+/-	Increase/decrease in deferred income	55,258	38,131
-/+	Increase/decrease in deferred taxes reported as assets	-25,700	1,718
-/+	Reduction/increase in deferred taxes reported as liabilities	-35,600	61,960
+/-	Increase/decrease in trade creditors and other liabilities	-93,760	10,956
	Cash fl ow from current business activities	-494,222	278,576
+/-	Proceeds/outgoings for disinvestments/ investments in tangible fi xed assets, intangible fi xed assets, participating interests and goodwill	-627,891	-164,503
+/-	Proceeds/outgoings from the sale/purchase of securities	0	252,750
	Cash fl ow from investment activities	-627,891	88,247
-	Repayment of loans	-4,022	-4,869
-	Payment to shareholders ensuing from capital reduction		-14,780,760
-	Disbursement from dividend payments	-464,345	-469,549
+/-	Proceeds/outgoings from the sale/purchase of own shares	2,268	-342,332
	Cash fl ow from fi nancing activities	-466,099	-15,597,510
	Change in funds to hand which affects payment	-1,588,212	-15,483,436
+	Change in funds to hand due to evaluation (special revaluation reserve)	-71,454	26,485
	+ Funds at the start of the period	17,099,512	31,205,241
	Funds at the end of the period	15,439,846	15,748,290
-	Cash and cash equivalent	729,863	728,674
-	Securities	14,709,983	15,019,615

• 1. The change in cash fl ow from investment activities when compared to the same period in the previous year is mainly due to the expansion and reconstruction of the premises in Cologne, as well as to the investments in new hardware.
• 1. The change in cash fl ow from fi nancing activities when compared to the same period in the previous year mainly ensues from the special dividend paid in the fi rst quarter of 2005 within the framework of the capital reduction.
• 1. Funds to hand as at 30/09/2006 contain borrowed money totalling 28 thousand euro (previous year: 37 thousand euro). These are outstanding doctors' fees which DocCheck AG cannot dispose of in any other way.

5

1. The liquid assets and current-asset securities totalled 15.4 million euro as at 30 September 2006 (previous year: 15.7 million euro).

6 Devisional Reporting as at 30/09/2006

	antwerpes + partner	DocCheck	Holding	Total
	€	€	€	€
Net sales for the divisions	4,855,093	4,577,803	1,032	9,433,929
Intra-group sales	52,972	303,857	1,946,375	2,303,203
EBIT	770,403	-186,250	32,016	616,169
Result before taxes on earnings	770,346	-182,684	395,447	983,109
Total assets	1,877,278		3,318,595 16,663,709 21,859,582
Total liabilities	1,425,696	893,179	-366,358	1,952,517
Depreciation of tangible fi xed assets	19,517	57,445	230,372	307,333
Investments in tangible and intangible fi xed assets	14,855	47,149	123,017	185,021
Employees	46	56	11	113

As at 30/06/2006 DocCheck AG has changed and standardised the descriptions of its business segments so that they are in line with brand strategy. To date, the descriptions "Communication" and "antwerpes + partner" were used concurrently for the agency business. In future the segment will just be called "antwerpes + partner".

In future the segment "DocCheck, Commerce & Logistic" will just be called "DocCheck". The actual composition of the segments remains unaffected by this.

Total assets include the fi xed assets, the current assets and the prepaid expenses and deferred charges. The segment, antwerpes + partner, (formerly Communication) comprises antwerpes + partner ag, Cologne, with its business premises in Basle, Switzerland. DocCheck Medical Services GmbH, Albert Geisselmann Medizinbedarf GmbH, DocCheck Medizinbedarf und Logistik GmbH, medicalpicture GmbH, medizinstudent.de GmbH and DocCheck TV GmbH together form the DocCheck Division (formerly DocCheck, Commerce & Logistic). The segment Holding, incorporates the whole of the administrative and service Division of DocCheck AG. Since the activities of these companies are currently located in the same area, a geographical segmentation was waived. Supplies and services within the combined group were valued at purchase price plus a mark-up and cost sharing within the Group was valued at purchase price plus interest.

7 Statement of Changes in Equity Capital Statement of Equity Capital in accordance with IAS 1 Subsections 96-101

	Subscribed capital	Capital reserve	Statutory reserve	Reserve in accordance with the company's Articles of asociation	Other revenue reserves	Other compre hensive income	Net earnings	Capital adjustment items	Own shares	Minority Share holdings	Total
	€	€	€	€	€	€	€	€	€	€	€
Balance as at 31/12/2004	5,904,312	13,331,816	39,253	0	32,448	88,567	2,705,703	-3,245,570	0	229,645	19,086,174
Additional acquisition of shares DocCheck TV GmbH										5,338	5,338
Purchase of own shares									-157,083		-157,083
Revaluation of securities						91,566					91,566
Distribution of dividends							-469,549				-469,549
Annual net income as at 30/09/2005							219,137			-1,391	217,746
Balance as at 30/09/2005	5,904,312	13,331,816	39,253	0	32,448	180,133	2,455,291	-3,245,570	-157,083	233,592	18,774,192
Balance as at 31/12/2005	5,904,312	13,328,523	39,253	0	32,448		32,509 2,878,858	-3,245,570	-411,449	264,472	18,823,358
Purchase of shares in Albert Geisselmann Medizinbedarf GmbH, Eilenburg										20,924	20,924
Revaluation of securities						-71,454					-71,454
Sale of own shares							-13,036		35,646		22,610
Purchase of own shares									-20,342		-20,342
Distribution of dividends							-464,345				-464,345
Annual net income as at 30/09/2006							551,812			30,874	582,686
Balance as at 30/09/2006	5,904,312	13,328,523	39,253	0	32,448	-38,945	2,953,290	-3,245,570	-396,145	316,271	18,893,437

8 Shareholder structure

The shareholder structure of DocCheck AG consists of the following as at quarter-end:

	Share	Number
	€
Dr. Frank Antwerpes, CEO*	47.56	2,807,858
Jan Antwerpes, CFO*	13.95	823,477
Dr. Johannes Kersten, Supervisory Board member of antwerpes + partner ag	7.32	432,031
Free fl oat**	31.17	1,840,946
Hermann Korte, Supervisory Board member, antwerpes + partner ag	0.95	56,038
Roland Ortloff, Managing Director of DocCheck Medizinbedarf und Logistik GmbH	0.76	44,312
Michael Thiess, Chairman of the Supervisory Board	0.11	6,060
Dr. Joachim Pietzko, Supervisory Board member	0.01	866
Winfried Leimeister, Supervisory Board member	0.00	0
Helmut Rieger, e-commerce Board of Directors*	0.01	400
DocCheck AG	1.64	96,598

* The shares of the family were allocated to Messrs. Antwerpes on a 50% basis. In addition, the shares of Dr. Frank Antwerpes' wife were included and the same applied to Mr. Helmut Rieger. **Calculation according to the German Stock exchange

9 Stock Options

In accordance with the resolution passed at the annual general meeting on 16 May 2001, the company offers, by means of an options contract, subscription rights to certain employees regarding the acquisition of DocCheck AG shares. As at 30 September 2006, 30,500 (in the previous year: 42,000) stock options had been issued. The reduction in the stock options portfolio is because some employees who were entitled to subscribe left the company and also because 8,500 share certifi cate options from the 3rd tranche were exercised in the 2nd quarter of 2006. The average share price on the day that the options were exercised was 4.05 euro. The shares used for the subscription right were taken from DocCheck AG's holdings of own shares.

Exercising a subscription right depends on whether at the time the following performance goals were met:

• The market price of the DocCheck AG share has performed better than the Nemax All Share Index (now Technology All Share Index)
• The current market price of the share must be higher than the comparative market price and the comparative market price of the share is

• for subscription rights granted up to fi ve days before the initial public offering, the initial public offering price as determined in the bookbuilding process for the DocCheck AG share for the purposes of the initial public offering

• for one or two subscription rights granted during an acquisition period, the average of the Xetra closing prices for the 20 trading days before the fi rst day of the respective acquisition period..

• The employee has an employment contract with a DocCheck AG company and notice to terminate this has not been served, nor has it been terminated in some other way.

Exercising the options granted is only permissible at any time during the following periods:

• On the respective fourth and the 19 subsequent bank working days following a DocCheck AG Ordinary Annual General Meeting.
• On the respective fourth and the 19 subsequent bank working days following the publication of the DocCheck AG quarterly report covering the 3rd quarter of a fi nancial years.

Issued stock options balance as at 30/09/2006

Issued stock options balance as at 31/12/2005	42,000
Options granted in the 1st nine months of 2006	0
Options exercised in the 1st nine months	8,500
Options which have lapsed in the 1st nine months	3,000
Issued stock options balance as at 30/09/2006	30,500
The fi rst tranche (Issue: April 2000, issue price: 18.50 €, term: 7 years)	27,000
of which to management exercisable on 30/09/2006	22,000
of which to employees exercisable on 30/09/2006	5,000
The second tranche (Issue: December 2000, issue price: 15.46 €, term: 7 years)	2,000
of which to employees exercisable on 30/09/2006	2,000
The third tranche (Issue: May 2002, issue price: 2.66 €, term: 7 years)	1,500
of which to management	1,500
of which with a waiting period up until the fi rst implementation on 31/05/2007	1,500

Investor Relations

DocCheck AG Tanja Mumme, Corporate Communication Manager

Vogelsanger Straße 66, 50823 Köln fon: +49(0)221-92053-139, fax: +49(0)221-92053-133 www.doccheck.de

7