Overview of KPIs

	31.03.2009 (not audited)	31.03.2008 (not audited)
Sales revenue (EUR thousand)	4,590	3,660
Total operating revenue (EUR thousand)	4,578	3,685
EBIT (EUR thousand)	865	989
EBIT margin (in terms of sales revenue)	18.9%	26.8%
EBIT margin (in terms of total operating revenue)	18.9%	27.0%
EBT (EUR thousand)	919	955
Net income for the period (EUR thousand)	657	673
Earnings per share (weighted) (EUR) 1	0.391	134.061
Equity ratio (previous year as at 31.12.2008)	63.6%	60.0%

¹ Based on the 1,665,000 outstanding shares, the earnings per share for the period 1 January 2008 – 31 December 2008 are EUR 0.40. 5,000 shares were outstanding for this reporting period in 2008.

Overview of KPIs2
Contents3
1. To our shareholders 5
A. Preface of the Managing Board	5
B. GK SOFTWARE AG Shares	7
2. Brief Consolidated Interim Report	9
A. Financial Report	9
B. Report on Risks and Prospects 12
3. Consolidated financial statements	14
A. Consolidated balance sheet as of March 31, 200914
B. Consolidated income statement as of March 31, 2009	16
C. Consolidated cash flow statement
as of March 31, 2009 17
D. Consolidated statement of changes in equity as of March 31, 2009	18
E. Notes to the consolidated financial statements
as of March 31, 2009 19
4. Declaration by legal representatives	20
Imprint/Notes	21

Rainer Gläß CEO

Stephan Kronmüller CTO

Ronald Scholz COO

André Hergert CFO

1. To our shareholders

A. Preface of the Managing Board

Dear shareholders,

The first three months of the 2009 business year have gone well for GK SOFTWARE. There are several reasons for this: We acquired new customers, we supplied products for current projects on schedule and sealed follow-up business deals with existing customers. was able to acquire one of the most important retail IT projects in the world when it received an order from Lidl to equip approx. 8,000 stores in more than twenty European countries. The order placed by Netto Marken-Discount to equip approx. 2,500 former Plus stores means that almost 45 percent of food discount stores in Germany will be equipped with GK/Retail. Important milestones were also achieved in current projects during the past quarter in addition to implementing the new orders. The rollout for the Gebr. Heinemann GK airport shops in Germany is running according to plan and production on the pilot version for Denmark will be started soon. After completing the rollout at Thalia in Austria, we are currently working to launch the product in Switzerland.

The outstanding results in the 2008 business year provide a solid basis for further developments at . We have provided an excellent foundation to expand our technology leadership with the new Release 12. We are expecting this to bring additional impetus to further penetrate the market in Germany and expand internationally both in our business with existing customers and in acquiring new projects. We are not only involved in advanced marketing and sales activities in Great Britain and Russia, but we have also launched our own agency in the USA in order to actively process the largest retail market in the world. Alongside this, we are intensively searching for partners in other retail markets where we currently do not expect to have business operations.

The first quarter performance did not show any signs of the effects of the difficult overall economic situation. We are involved in very promising negotiations with potential customers in Germany and have been able to expand our sales pipeline as a result of our international activities. Despite this, it is very difficult at the moment to predict how willing the retail sector will be to invest during the rest of the year– and the same is true of international business.

We have been able to stand our ground well in the light of the current economic environment. was able to increase its sales from EUR 3.66 million to EUR 4.59 million (i.e. by more than one quarter) during the first quarter of 2009 in comparison with the same period twelve months ago. Total operating revenue amounted to EUR 4.58 million and was therefore almost 24% above the figure for the period last year. Earnings before interest and taxes (EBIT) were EUR 0.86 million, approx. 9% below the figure for the same quarter last year, which can mainly be attributed to special effect in the quarter twelve months ago – unusually high income from licenses – and investments in domestic and international sales operations, which have been continuing since the

second half of 2008, and improving capacities in the project management and software production departments. The EBIT margin related to total operating revenue was 18.9% in the first quarter. The results in the first quarter of 2009 totaled EUR 0.92 million (EUR 0.96 million in the previous year) before taxes on income and revenues (EBT).

We remain confident that the company will be

able to further increase sales in financial 2009 in the current difficult economic environment and achieve appropriate profitability levels.

We would like to thank you for placing your confidence in us and supporting us as we move forwards.

The Management Board

Rainer Gläß (CEO)

Ronald Scholz (COO)

Stephan Kronmüller

(CTO)

André Hergert

(CFO)

i. Summary

Key facts
German Securities Identification Number (WKN)	757142
ISIN	DE0007571424
Ticker symbol	GKS
IPO	June 19, 2008
Type of shares	No-par value bearer shares
Stock exchanges	Frankfurt and XETRA
Segment	Regulated Market (Prime Standard)
Designated Sponsor	ICF Kursmakler AG
Number of shares outstanding	1.665,000
Share capital	EUR 1,665,000
Free float	24.33%
Offering Price	EUR 21.00
Gross Issuing Volume	EUR 8.72 million
First Price (XETRA) Jun. 19, 2008	EUR 21.40

GK SOFTWARE AG shares are listed in the Prime Standard section of the Frankfurt Stock Exchange. The trading performance of the shares continues to be affected by the difficult capital market environment, which is characterized by huge volatility. The shares were trading at EUR 11.25 at the end of the first quarter (reporting date: 31 March). This represented a market capitalization of approx. EUR 18.7 million on the reporting date. With the beginning of the second quarter the GK SOFTWARE AG share price meanwhile rose to EUR 13,70

ii. Shareholder Structure

GK SOFTWARE AG has a very stable shareholder basis and this guarantees the long-term and sustainable development of the company. There were no changes in the shareholder structure as at 31 March 2009. The founder and CEO, Rainer Gläß, directly holds 2.85% of the shares. Stephan

Shareholder structure at

on 31 March 2009 Kronmüller, also a founder and CTO, directly holds 2.25% of the shares. 70.57% are owned by GK Software Holding GmbH and they are equally allocated to the shareholders Rainer Gläß and Stephan Kronmüller. 24.33% are in free float.

iii Directors Dealings

No transactions, which need to be reported, occurred during the reporting period.

iv. Financial Calendar1

2009 Annual Shareholders' Meeting	Jun. 15, 2009
Report on the first six months of 2009	Aug. 13, 2009
Equity Forum/Analysts' Conference	Nov. 11 – 13, 2009
Third Quarter Report for 2009	Nov. 28, 2009
2009 Annual Report	Apr. 15, 2010

1 subject to alterations

2. Brief Consolidated Interim Report

A. Financial Report

i. Business and Underlying Conditions for GK SOFTWARE

a. Market and Competitive Environment

The retail sector is not immune from general economic developments, but overall it does represent a very stable market in the long term and sales have risen from EUR 386 million to approx. EUR 400 million during the last five years. The HDE (German Retail Association) currently expects sales to remain largely stable during the first half of the year, but is unable to provide a safe forecast for the whole year as the future will largely depend on developments on the employment market. The economic crisis has not yet triggered any massive changes for the retail sector. So the HDE currently expects the target corridor for sales to remain stable or fall slightly by approx. one percent. In contrast, the Nuremberg market research institute, GfK, believes that it is possible that private expenditure on consumer goods could even rise slightly in 2009. The retail sector's willingness to invest will at least partly depend on sales developments and the overall economic mood and this represents the greatest possible risk factor for developments at GK SOFTWARE. But in general terms, periods of economic downturn also provide opportunities for GK SOFTWARE. Efforts made by retail companies to boost customer loyalty – which are often intensified during these periods – could even open up additional sales potential for GK SOFTWARE, as the company's software portfolio is particularly competitive in this field. The age of IT solutions used by the retail sector is also an important factor influencing further sales opportunities for GK SOFTWARE – many of these systems are six years old and twenty percent are even ten years old or more. Many companies face a situation where the existing solutions can only be adapted with a great deal of effort and expenditure or they fail to satisfy modern requirements in any way. They will be unable to avoid investments in new systems in the short or medium term. In order to remain

competitive, many retail companies will have to make major investments in their IT systems in order to be suitable equipped, particularly in the process optimization and customer loyalty fields and for any international expansion. GK SOFTWARE is in a strong position in several current requests for proposals and has important advantages over its rivals as a result of its broad product portfolio, the internationality of its solutions and its proven ability to realize projects quickly.

b. Customer Projects

We pressed ahead with customer projects on schedule in the first quarter of 2009. The rollout for Gebr. Heinemann KG airport shops in Germany is currently under way and preparations are being made for the switch in Denmark. Special functions like the need to record flight data had to be implemented for this project. In the Lidl project, the first national versions have been handed over to the company on time in line with the milestone planning. The change-over in former Plus stores and their integration in the IT landscape of Netto Marken-Discount is moving ahead at full speed – several hundred stores have already been equipped with GK/Retail. Following the conclusion of the rollout at Thalia in Austria, the rollout version for Switzerland is now being prepared. Developments in major projects like Coop (Switzerland), Jysk Nordic (Danmark) or Hornbach are also going ahead according to schedule. The new GK/Retail major release 12 has also stirred huge interest from existing customers. We are currently making preparations to switch the first existing customers to the new version.

Distribution of employees at group business locations on 31 March 2009

c. Employees

GK SOFTWARE overall employs 231 members of staff (as at 31 March 2009), 18 more than at the end of 2008. The number of employees rose by one third over the period twelve months earlier (170 members). Extra staff were hired in the software development and project management departments during the first quarter of the current financial year. The majority of the company's workforce is based at company headquarters in Schöneck (117 employees). Nine people work at the Berlin office, particularly in sales and marketing activities, project management and partner management. 98 people are currently employed at the Czech subsidiary EUROSOFTWARE s.r.o. and there are seven members of staff at the second subsidiary, StoreWeaver GmbH, at Basel/Riehen and St. Ingbert. The main focus of human resource development work is currently on integrating the new employees and introducing them to company procedures. Special familiarization plans, trainee and mentor programs have been specially developed for this purpose. GK SOFTWARE will require highly qualified staff at its various business locations in future too.

ii. Explanation of the Company Results and an Analysis of the Earnings, Assets and Financial Situation

a. Earnings Situation

GK SOFTWARE was able to raise its sales from EUR 3.66 million to EUR 4.59 million in the first quarter of the business year in comparison with the same quarter in the previous year, an increase of about one quarter. The first quarter of 2008 was dominated by strong revenues from licenses (EUR 0.98 million), while sales of licences totaled just EUR 0.16 million in the quarter being reported. If the changes in stocks of unfinished goods and work in progress and own work capitalized are taken into account, total operating revenue rose to EUR 4.58 million compared to EUR 3.69 million in the previous year, an increase of almost 42%.

In comparison with the first quarter of 2008, human resources expenditure, however, rose from EUR 1.80 million to EUR 2.39 million (+32.6%) during the reporting period. In addition to the expansion of development capacity, the rise is mainly due to the expansion in domestic and international sales structures, which has been going on since the second half of 2008.

Depreciation/amortization amounted to EUR 0.19 million in the first quarter (EUR 0.16 million in the previous year); the depreciation on own work capitalized exceeded accruals in own work capitalized for the first time during the reporting period. Other operating expenditure amounted to EUR 0.87 million (EUR 0.66 million in the previous

Developments in sales compared to the previous years

2008 2009

2007

year). This increase is also mainly due to expenditure in connection with the establishment of sales organizations in Great Britain, the USA and Russia.

GK SOFTWARE achieved earnings before interest and tax (EBIT) of EUR 0.86 million in the first three months of 2009. In terms of the total operating revenue, GK SOFTWARE achieved an EBIT margin of 18.9% in the first three months of 2009 (business year 2008: 18,5%).

The financial results in the first three months of 2009 totaled EUR 54,000 (EUR -34,000 in the previous year). The results before tax decreased to EUR 0.92 million following a figure of EUR 0.96 million in the previous year. After tax, the net income for the period amounted to EUR 0.66 million (EUR 0.67 million in the previous year: -2.4%). This results in earnings per share of EUR 0.39 in terms of the 1,665,000 shares outstanding at the reporting date, which almost matches the previous year's figure based on 1,665,000 outstanding shares (EUR 0.40 per share).

b. Asset Situation

As a result of the successful business operations in the first quarter of 2009, the consolidated reported equity rose by EUR 0.66 million to EUR 12.44 million from a figure of EUR 11.78 million as at 31 December 2008. The equity ratio now amounts to 63.5% following 60.0% at the end of the 2008 business year.

The long-term liabilities were reduced by EUR 47,000 to EUR 2.34 million. The fall is due to the payment of agreed repayment installments on long-term bank liabilities. Current liabilities fell from EUR 5.46 million to EUR 4.81 million in the first three months. The current liabilities include advanced payments by customers amounting to EUR 2.23 million, which play a major role in funding the company's operations.

As far as assets are concerned, long-term assets remained almost constant at EUR 4.22 million when compared with the figure at the end of the previous business year (EUR 4.24 million as at

31 December 2008). The major items involve the building at company headquarters in Schöneck (EUR 2.15 million) and own work capitalized at EUR 1.52 million. This own work involves the further development of our GK/Retail software suite.

Current assets covered items valued at EUR 15.37 million following a figure of EUR 15.38 million on the balance sheet date for the 2008 business year. The main element in this was cash and cash equivalents, which rose from EUR 8.85 million to EUR 9.98 million. Trade accounts receivable fell from EUR 3.02 million to EUR 1.88 million.

c. Financial Situation

The company's cash flow in a narrower sense (primarily the pre-tax results, adjusted by depreciation items that do not affect liquidity) rose to EUR 1.09 million in the first three months of the 2009 business year. The figure for the whole year was EUR 3.54 million. The cash flow from operating business activities amounted to EUR 1.32 million during the reporting period (EUR 1.43 million for the whole of the 2008 business year).

The cash flow from investments amounted to a total figure of EUR -0.16 million during the first three months of 2009 (total figure for 2008: EUR -2.58 million). These investments mainly involve scheduled payments for property, plant and equipment and long-term assets. These include investments in office and business equipment and the further development of the GK/Retail software suite.

The cash flow from financial operations amounted to EUR -0.04 million during the reporting period (the figure for the whole of 2008: EUR 7.10 million). The outflow of funds was due to agreed payment installments on long-term bank liabilities.

B. Report on Risks and Prospects

i. Opportunities and Risks for GK SOFTWARE

There were no major changes to the risk situation for GK SOFTWARE during the first quarter of the 2009 business year compared with the statements made in the consolidated annual report for the 2008 business year in the sense that they might exert a major influence on the development of business at GK SOFTWARE in the remaining months of the current business year. As a result, the descriptions of the opportunity/risk potential for future developments at GK SOFTWARE continue as laid down in the consolidated annual report for the 2008 business year without any major changes.

ii. Outlook

The global economic crisis, the depth and duration of which are still hard to predict, render it almost impossible to make estimates about the development of the market environment for our customers, their investment behavior and therefore for our target market.

It is, however, our fundamental belief that our customers' major needs, which the solutions provided by GK SOFTWARE seek to meet, will not change as a result of the crisis, but may be overtaken by other considerations at times: more efficient IT structures are required to a higher degree in order to serve more and more individual consumer needs in the increasingly internationalized world of retail stores more efficiently and encourage customer loyalty by using features other than simply prices. Accurate information about business operations within the store network allows companies to manage their networks with great precision and achieve positive results, even in economically difficult times – and this is only possible with appropriate IT structures. The software supplied by GK SOFTWARE provides all this. Our newly acquired projects, like the one for the whole Lidl European store network or the software switch at approx. 2,500

Plus markets as a result of the takeover by Netto Marken-Discount, provide ample evidence of this.

We are currently involved in intense negotiations with potential customers both in Germany and abroad and the ongoing work on projects with existing customers is going according to plan. At the same time, we introduced important product innovations on to the market in the shape of Release 12 in 2008 and demand for this is already high and represents an important basis for our future growth.

Despite the difficult overall economic situation, we are expecting further growth in sales and appropriate levels of profitability in the current 2009 business year. It will only be possible to make more specific forecasts later in the year as they will depend on economic developments in Europe, particularly in the retail sector. Experience suggests that issues like customer loyalty, increasing customer satisfaction and optimizing store processes tend to become more important during periods of economic downturn, we are confident that business at GK SOFTWARE will continue to be successful throughout the 2009 business year.

3. Consolidated financial statements

A. Consolidated balance sheet as of March 31, 2009

Assets

EUR	31.03.2009 (not audited)	31.12.2008 (audited)

Non-current assets
Property, plant and equipment	2,584,056.40	2,593,082.45
Intangible assets	1,630,982.54	1,633,248.88
Deferred taxes	2,426.53	17,836.30
Total non-current assets	4,217,465.47	4,244,167.63
Current assets
Inventories	519,382.48	738,100.00
Accounts receivable	1,875,179.82	3,023,201.58
Other receivables and assets	2,998,695.68	2,765,481.55
Cash and cash equivalents	9,977,356.54	8,854,938.53
Total current assets	15,370,614.52	15,381,721.66
Total (balance sheet)	19,588,079.99	19,625,889.29

Equity and Liabilities

EUR	31.03.2009 (not audited)	31.12.2008 (audited)
Equity capital
Subscribed capital	1,665,000.00	1,665,000.00
Share premium	7,436,970.73	7,436,970.73
Retained earnings	31,095.02	31,095.02
Balance sheet profits	3,305,576.40	2,649,347.46
Total equity capital	12,438,642.15	11,782,413.21
Non-current liabilities
Provisions for pensions and similar commitments	48,719.12	48,719.12
Non-current liabilities to banks	1,102,895.06	1,140,434.50
Deferred government grants	741,016.25	749,652.03
Deferred taxes	442,889.25	443,405.05
Total non-current liabilities	2,335,519.68	2,382,210.70
Current liabilities
Current provisions	796,650.67	798,640.70
Current liabilities to banks	118,336.13	115,503.60
Accounts payable	531,269.21	525,974.39
Advance payments received	2,225,409.78	2,271,498.24
Income tax liabilities	249,315.62	211,149.47
Other current liabilities	892,936.76	1,538,498.98
Total current liabilities	4,813,918.17	5,461,265.38
Total liabilities	7,149,437.85	7,843,476.08
Total (balance sheet)	19,588,079.99	19,625,889.29

B. Consolidated income statement as of March 31, 2009

	31.03.2009 EUR (not audited)	31.03.2008 EUR thousand (not audited)	31.12.2008 EUR thousand (audited)
Continued Operations
Sales revenues	4,589,837.09	3,660	15,029
Changes in stocks of work in progress	-218,717.52	-292	-1,260
Own work capitalized	103,880.00	223	815
Other operating revenues	104,654.28	94	424
	4,579,653.85	3,685	15,008
Material expenditure	265,400.26	72	514
Personnel expenditure	2,391,593.56	1,804	8,047
Amortization/depreciation	191,660.79	156	719
Other operating expenditure	866,733.39	664	2,954
	3,715,388.00	2,696	12,234
Operating results	864,265.85	989	2,774
Financial results	53,765.58	-34	90
Results before income taxes	918,031.42	955	2,864
Income taxes	261,802.48	282	830
Net income	656,228.94	673	2,034
Profit carried forward	2,649,347.46	1,718	1,718
Transfers to share premium	0.00	0	-919
Dividend payments	0.00	0	-184
Net retained profits	3,305,576.40	2,391	2,649
Number of shares issued (average)	1,665,000	5,000	1,472,240
Undiluted earnings per share (in EUR/share)	0.39	134.60	1.38

C. Consolidated cash flow statement as of March 31, 2009

EUR thousand	31.03.2009 (not audited)	31.12.2008 (audited)

Cash flow from operating activities
Net income/loss	656	2.034
Income taxes affecting results	262	830
Interest income/expenses affecting results	-54	-90
Earnings/losses from the sale or disposal of property, plant and equipment	0	18
Reversals of deferred government grants	-14	-36
Write-downs recognized for receivables	57	68
Write-ups recognized for receivables	0	-8
Amortization/depreciation	192	719
Other non-cash income and expense	-5 1,094	4 3,539
Changes in net current assets
Change in accounts receivable and other assets	857	-1,182
Change in inventories	219	1,261
Change in accounts payable and other liabilities	-776	116
Change in advance payments received	-46	-1,227
Change in provisions affecting results	-2	270
Influx of cash provided by operating activities	1,346	2,777

Interest received	73	231
Interest paid	-19	-141
Income tax paid	-83	-1,440
Net cash flow provided by operating activities	1,317	1,427
Cash flow from investment activities
Payments for property, plant and equipment and non-current assets	-162	-1,215
Investment subsidies used	0	8
Disbursed loans to associated companies	0	-820
Disbursed loans	0	-552
Net cash used in investment activities	-162	-2,579
Cash flow from financing activities
Dividend payments	0	-184
New equity	0	7,852
Draw-down of loans	0	0
Repayment of credit	-35	-120
Repayment of silent partnership	0	-450
Net cash provided by financing activities	-35	7,098
Net increase in cash and cash equivalents	1,120	5,946
Cash and cash equivalents at beginning of year	8,855	2,904
Impact of changes in exchange rates on cash and cash equivalents	2	5
Cash and cash equivalents on March 31, 2008	9,977	8,855

D. Consolidated statement of changes in equity as of March 31, 2009

EUR	Subscribed capital	Reserves (share premium)	Reserves (retained earnings)	Reserves (retained earnings)	Total
Balance on 1 Jan. 2008	155,000.00	0.00	207,134.07	1,718,753.00	2,080,887.07
Net income for the period	0.00	0.00	0.00	673,246.27	673,246.27
Balance on 31 Mar. 2008	155,000.00	0.00	207,134.07	2,391,999.27	2,754,133.34
Net income from 1 Apr. to 31 Dec. 2008	0.00	0.00	0.00	1,360,609.14	1,360,609.14
Dividend payments	0.00	0.00	0.00	-184,300.00	-184,300.00
Additions to retained earnings to increase capital	0.00	0.00	918,960.95	-918,960.95	0.00
Capital increase from company funds.	1,095,000.00	0.00	-1,095,000.00	0.00	0.00
Capital increase (IPO)	415,000.00	8,300,000.00	0.00	0.00	8,715,000.00
Offsetting equity procurement costs with premium share less tax effect	0.00	-863,029.27	0.00	0.00	-863,029.27
Balance on 31 Dec. 2008	1,665,000.00	7,436,970.73	31,095.02	2,649,347.46	11,782,413.21
Net income for the period	0.00	0.00	0.00	656,228.94	656,228.94
Balance on 31 Mar. 2009	1,665,000.00	7,436,970.73	31,095.02		3,305,576.40 12,438,642.15

E. Notes to the consolidated financial statements as of March 31, 2009

1. Principles of Reporting

1.1. General Information

The abbreviated consolidated interim report from GK SOFTWARE AG has been drawn up according to the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB), which applied on the accounts reporting date. Any standards or interpretations, which had been published, but had not yet come into force, have not been used for the consolidated interim report. The company managers assume that there will be no major effects on the annual accounts in the first year that these standards are used. The International Accounting Standards Board (IASB) has not published any new accounting standards (IFRS), which the company needs to use for the first time in the current business year.

The consolidation, balance sheet and assessment methods used in the abbreviated consolidated interim report are based on the same consolidation, balance sheet and assessment methods, which were used in the consolidated accounts for financial 2008.

1.2. Consolidated Companies

The consolidated interim accounts include GK SOFTWARE AG and all the companies, where GK SOFTWARE AG holds a majority of the shareholder voting rights.

The consolidated companies include the parent company and three foreign firms (EUROSOFTWARE s.r.o., Plzen/Czech Republic, StoreWeaver GmbH, Riehen/Switzerland, GK Soft GmbH, Zurich/Switzerland).

1.3. Authorization of the Abbreviated Interim Accounts

The abbreviated interim accounts were authorized by the company managers on 13 May 2009 and released for publication.

Schöneck, May 2009

The Management Board

Rainer Gläß

(CEO)

Ronald Scholz (COO)

Stephan Kronmüller (CTO)

André Hergert (CFO)

Imprint/Notes

Imprint

Publisher:

GK SOFTWARE AG Waldstraße 7 08261 Schöneck Phone: +49 3746484 - 0 Fax: +49 3746484 - 15 www.gk-software.com [email protected]

Chairman of the Supervisory Board: Dipl.-Volkswirt Uwe Ludwig

Management board:

Dipl.-Ing. Rainer Gläß, CEO Dipl.-Ing. Stephan Kronmüller, CTO Dipl.-Ing. Ronald Scholz, COO Dipl.-Kfm. André Hergert, CFO

Amtsgericht Chemnitz HRB 19157 USt.-ID. DE 141 093 347

Contact

Contact Investor Relations

cometis AG Ulrich Wiehle Unter den Eichen 7 65195 Wiesbaden Phone: +49 611 205855 - 11 Fax: +49 611 205855 - 66 [email protected]

GK SOFTWARE AG Dr. René Schiller Friedrichstr. 204 10117 Berlin Phone: +49 37464 84 - 264 Fax: +49 37464 84 - 15 [email protected]

Notes

Note to the Annual Report

This Annual Report is the English translation of the original German version. In case of deviations between these two the German version prevails. This Annual Reports is in both languages can be downloaded at http://investor.gk-software.com.

Note regarding the rounding of figures

Due to the commercial rounding of figures and percentages small deviations may occur.

Disclaimer

This annual report includes statements concerning the future, which are subject to risks and uncertainties. They are estimations of the Board of Management of GK SOFTWARE AG and reflect their current views with regard to future events. Such expressions concerning forecasts can be recognised with terms such as "expect", "estimate", "intend", "can", "will" and similar terms relating to the Company. Factors, which can have an effect or influence are, for example (without all being included): the development of the retail and IT market, competitive influences including price changes, regulatory measures and risks with the integration of newly acquired companies and participations. Should these or other risks and uncertainty factors take effect or should the assumptions underlying the forecasts prove to be incorrect, the results of GK SOFTWARE AG could vary from those, which are expressed or implied in these forecasts. The Company assumes no obligation to update such expressions or forecasts.

GK SOFTWARE AG Waldstraße 7 08261 Schöneck Phone +49 37464 84-0