A forecast of the raw materials markets for the near future is included on page 106 of the annual report 2008.

The automotive divisions can be affected by cost exposure in particular due to rising steel prices, whereas the other divisions are mainly affected by the development of oil and natural rubber prices. Since these raw materials are usually purchased in U.S. dollars, a stronger U.S. dollar can represent a further price risk for our companies that are outside of the U.S.A. and whose currency is not tied to the U.S. dollar. We mitigate the risks of unavailability of raw materials and production materials by observing the market carefully and seeking out and developing new suppliers if necessary. Nevertheless, single sourcing cannot always be avoided. We limit the risk of supply delays, insufficient quantities and inadequate quality by carefully selecting our suppliers and reviewing them carefully, something that has been stepped up again in the wake of the financial and economic crisis.