Siemens AG has issued a detailed public statement following the conclusion of an internal investigation by Debevoise & Plimpton LLP and the resolution of investigations by authorities in Germany and the US.  Debevoise was engaged by Siemens AG in December 2006 to conduct an independent and comprehensive investigation for the Audit Committee to determine whether anti-corruption regulations had been violated and to conduct an independent and comprehensive assessment of the compliance and control systems at Siemens.  The Siemens investigation, among the largest of its kind in scope, was completed in two years.  It included 1,750 interviews; over 1,000 informational briefings; 82 million documents electronically searched and 14 million documents reviewed; 38 million financial transactions analyzed; and 10 million bank records reviewed.

In its public statements, the Company has noted that the thoroughness and speed of the investigation, its cooperation with authorities and its extensive remedial measures resulted in very real benefits for the Company reflected in the resolutions with the authorities.  In fact, the government authorities in the US and Germany, in announcing the conclusion of their public investigations of the Company, cited the Company for its extraordinary cooperation and remedial measures.

The Debevoise Team was led by partner Bruce E. Yannett and included partners: Anne E. Cohen, Matthew E. Fishbein, Mark W. Friedman, John H. Hall, Jyotin Hamid, Sean Hecker, Jeffrey S. Jacobson, James E. Johnson, Marcia L. MacHarg, John B. Missing, Joseph P. Moodhe, Peter Rees, Thomas Schürrle, Karolos Seeger, Colby A. Smith; counsel: Erik Bierbauer, Steven S. Michaels, Michael M. Ostrove, Nicola C. Port, Dietmar W. Prager; and a dedicated team of associates and legal staff.  Debevoise also retained forensic accountants and risk management consultants from the accounting firm Deloitte & Touche GmbH to assist in conducting the investigation.

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