Siemens AG

ots Ad hoc-Service: SIEMENS AG Interim report for the third quarter (April 1 - June 30, 2000) and first nine months of fiscal 2000 (October 1, 1999 - June 30, 2000)

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    Munich (ots Ad hoc-Service) -      
    Third-quarter earnings at Siemens more than double again Aftertax
earnings before extraordinary items climb 134% to EUR 832 million

    Siemens continued its strong performance in the third quarter (April 1 - June 30, 2000) of the current fiscal year: Aftertax earnings before extraordinary items climbed 134% to EUR 832 million compared to the same period in fiscal 1999. The highest earnings were delivered by Infineon, Automation and Drives (A&D), Information and Communication Mobile (ICM), as well as by Information and Communication Networks (ICN) and Medical Engineering (Med). As in the previous quarter, all Groups were in the black. Overall economic value added (EVA) was positive, which means that the company's earnings - even without extraordinary items - exceeded the cost of capital. Despite extensive divestments, third-quarter sales rose 19% to EUR 18.8 billion and orders 27% to EUR 20.9 billion. On a comparable basis - that is, disregarding divestments and acquisitions - sales grew 26% and new orders 34%.

    In the first nine months of the fiscal year (October 1, 1999 - June 30, 2000), new orders rose 20%, sales 15% and aftertax earnings before extraordinary items 110% to EUR 2.237 billion. Extraordinary items, unchanged from the half-year, will contribute an additional aftertax total of EUR 4.6 billion for the year.

    In view of the favorable developments in the third quarter, Siemens has once again raised its projections for the full fiscal year. The company expects double-digit growth in new orders and sales for fiscal 2000.

    The exceptionally high earnings growth rates of 100% and higher posted in the first three quarters cannot be sustained for the full year because sharply improved earnings in the fourth quarter of fiscal 1999 set an unusually high basis of comparison for this coming three months. Regardless of this factor, we continue to expect a favorable earnings trend. The company also expects to achieve a positive EVA for all of fiscal 2000 - one year ahead of schedule.

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