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10/12/2008  17:11 h
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  Purpose 2007 Corporate Governance Report Declaration of Compliance   2007 2006 2005 2004 2003 2002 Corporate Governance System Board of Management Supervisory Board Directors´ Dealings Share-Based Payment Code of Ethics Articles of Association

Declaration of Compliance

The Board of Management and the Supervisory Board hereby declare that E.ON AG complies with the recommendations contained in the German Corporate Governance Code (dated June 02, 2005) prepared by the Government Commission appointed by the German Minister of Justice and published in the official section of the electronic version of the Bundesanzeiger. Furthermore, the Board of Management and the Supervisory Board declare that E.ON AG has been in compliance since the last statement of German Corporate Governance Code (dated May 21, 2003) recommendations was issued. However, there are the following exceptions:

 

1. Item 3.8 of the German Corporate Governance Code recommends that the liability insurance provided for members of the Board of Management and Supervisory Board (so-called D&O insurance) should include an appropriate deductible.

 

The D&O liability insurance of members of the Board of Management and Supervisory Board does not include a deductible. E.ON continues to believe that imposing deductibles is not an appropriate way to improve the sense of responsibility with which members of the Board of Management and Supervisory Board perform their assigned tasks and functions. E.ON's policy in this regard conforms with international standards and with those in effect at its subsidiaries in the United Kingdom and the United States.

 

2. Item 4.2.4 of the German Corporate Governance Code recommends that the compensation of each individual member of the Board of Management should be disclosed in the Notes to the Consolidated Financial Statements. Similarly, Item 5.4.5 of the German Corporate Governance Code recommends that the compensation of each individual member of the Supervisory Board should be disclosed in the Notes to the Consolidated Financial Statements.

 

E.ON disclosed the compensation of each individual member of the Board of Management and Supervisory Board in the Notes to the Consolidated Financial Statements of the 2004 E.ON Annual Report for the first time.

 

 

Düsseldorf, December 19, 2005

 

For the Supervisory Board of E.ON AG:
Ulrich Hartmann, Chairman, E.ON AG Supervisory Board

 

For the Board of Management of E.ON AG:
Dr. Wulf H. Bernotat, Chairman E.ON AG Board of Management

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©E.ON AG 2008