Financial Data of the GFKL Group 1.1. - 31.12.2004 on basis of the IFRS consolidated financial statement

Values of the previous year have been determined by retrospective application of the respective accounting rules.

	1.1 - 31.12.2004 in TEUR	1.1- 31.12.2003 in TEUR	Change
Earnings per share of common stock in EUR (IAS 33)	0.99	0.06	>100%
Revenues	539,495	501,252	8%
- thereof Leasing business	488,607	459,537	6%
- thereof Financial Outsourcing business	50,123	41,709	20%
- thereof Holding	765	5	>100%

Interest income	53,325	38,622	38%
other operating income	25,699	14,075	83%
Total operating income	618,519	558,874	12%

Lease expenses	508,667	478,691	6%
Cost of purchased goods	4,143	1,778	>100%
Personnel expenses	36,872	28,676	29%
Other operating expenses	41,454	38,642	7%
Other taxes	130	44	>100%
Earnings before Depreciation	27,253	6,117	>100%

Depreciation	7,603	3,779	>100%
Total operating expenses	598,869	551,610	9%

Earnings after Depreciation	19,650	2,338	>100%

Depreciation on investments	1	0	n/a
Earnings from share in associated companies	-617	0	n/a
Earnings before taxes	19,033	2,338	>100%

Taxes on income	4,893	1,427	>100%
Earnings of minority shareholders	53	0	n/a
Earnings after taxes	14,087	911	>100%

Profit carried forward from previous year	7,411	6,499	14%
Accumulated profit	21,498	7,411	>100%

Development of the Results in the business units
-Leasing business	10,140	1,768	>100%
-Financial Outsourcing business	15,389	8,204	88%
-GFKL Financial Services AG (Holding)	-3,296	-6,277	-47%
-Depreciation on investments	1	0	n/a
-earnings from share in ass. companies	-617	0	n/a
-earnings of minority shareholders	53	0	n/a
-Transition	-2,582	-1,357	90%

New Origination of Leasing business	450,911*	387,868	16%
- Number of new contracts	9,200*	8,140	13%
- Average Contract Size	49	48	3%

Number of employees at the end of the period calculated on fulltime employee without freelancer	657	420	57%
Earnings before taxes per employee	35.4	5.7	>100%

	31.12.2004 in TEUR	31.12.2003 in TEUR	Change
Total Assets	395,516	378,464	5%
Shareholders´ equity	79,127	73,206	8%
Equity ratio	20.0%	19.3%	3%
Time weighted after tax Return on equity	18.5%	1.3%	>100%

^{*) Including the whole New Origination of Transned Lease B.V. in 2004}