Supervisory Board Confirms: Executive Committee Acted Correctly

Jul 28, 2005 | Business & Financial Press

Munich, Germany – July 28, 2005 – Following the report by the Chairman of the Supervisory Board of Infineon Technologies AG (FSE/NYSE: IFX), Max Dietrich Kley, the Supervisory Board has found that the Executive Committee dealt with the case of Andreas von Zitzewitz in depth and correctly along the lines of good corporate governance. The Executive Committee was said to have immediately made the necessary investigations and to have arranged for the internal and external audit required. The Supervisory Board thereby endorses the resolution passed by the Investment, Financial and Audit Committee that the matter was duly attended to and the Executive Committee responsible for the matter cannot be reproached.

The Supervisory Board also supports the additional resolution to have the internal control system at Infineon reviewed by the external CPA firm Ernst & Young. The review is intended to establish whether Infineon’s internal control systems have any weak points which prevented the facts from coming to light any earlier. The Supervisory Board also agreed to the decision of the Management Board to have the accounting questions in connection with the Campeon building complex reviewed again by Ernst & Young, following repeated confirmation by the KPMG CPA firm responsible.

About Infineon

Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for automotive, industrial and multimarket sectors, for applications in communication, as well as memory products. With a global presence, Infineon operates through its subsidiaries in the US from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In fiscal year 2004 (ending September), the company achieved sales of Euro 7.19 billion with about 35,600 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at

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