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Siemens Project Ventures GmbH (SPV), a subsidiary of Siemens Financial Ser-vices, and WKN Windkraft Nord AG have founded the joint venture “Innovative Wind Concepts GmbH” (IWC) effective October 30, 2006. IWC GmbH will develop and realize wind-energy projects in central and eastern Europe. The two partners each hold 50 percent of the shares. The new company will be based in the House of Future Energies (Haus der Zukunftsenergien) in Husum, northern Germany, also the headquarters of WKN AG. The partners, Siemens Project Ventures and WKN, will contribute their respective ex-perience and strengths in equal parts to future joint projects. SPV invests equity in infra-structure projects worldwide with a special focus to date on energy, telecommunications and airports. SPV currently hold stakes in seven international projects with a total vol-ume of US$4 billion.

“Wind energy is one of the future’s key markets for alternative energies. With WKN AG, we’ve found an ideal partner for this fast-growing business field. Siemens Project Ven-tures GmbH has extensive in-depth experience in developing international infrastructure projects and can in this way broaden its investment base,” notes Hans-Joachim Schulz, Managing Director of Siemens Project Ventures.

Christian Clausen, a member of WKN Windkraft Nord AG’s Management Board, adds: "Projects in central and eastern Europe will complement our international activities ex-ceptionally well. We have no doubt that we can operate successfully in these markets together with Siemens Project Ventures."

Wind energy is the fastest-growing segment among alternative energies. According to Siemens estimates, the share of wind energy in renewable energies will double by 2010.

Please address your questions to Ulla Meixner at WKN AG:
Tel. +49 (0) 48 41 – 89 44 610.

WKN Windkraft Nord AG
Haus der Zukunftsenergien
Otto-Hahn-Straße 12 – 16, D-25813 Husum
Tel. +49 (0) 4841 – 89 44 232, Fax +49 (0) 4841 – 89 44 225
www.wkn-ag.de

WKN Windkraft Nord AG
WKN AG has been active in developing, constructing and operating turnkey wind parks in Germany since 1990. In addition, WKN AG is expanding into other European markets and has subsidiaries in several European countries and the United States. WKN AG is part of the innovative business network "Haus der Zukunftsenergien" in Husum, which has established itself as a center of competence for renewable ener-gies in Germany. The company is a fully owned subsidiary of BGZ Beteiligungsgesellschaft Zu-kunftsenergien AG.

Siemens Project Ventures GmbH, a fully owned subsidiary of Siemens Financial Services GmbH, in-vests equity in infrastructure projects worldwide. SPV’s investments focus on the power plant, telecom-munication and transportation sectors. SPV currently participates in seven different projects with a total project volume of about US$4 billion.

About Siemens Financial Services
With its roughly 1,700 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, the Siemens Financial Services (SFS) Group offers a broad range of financial services. This covers everything from sales and investment financing to treasury services, fund management and insurance brokerage. SFS's key customers are above all internationally active industrial and services companies, as well as public-sector operators. More information under: www.sfs.siemens.com

This press release contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words as “expects”, “anticipates”, “in-tends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance, business strategy and results and could cause the actual results, performance or achieve-ments of Siemens worldwide to be materially different from any future results, performance or achieve-ments that may be expressed or implied by such forward-looking statements. For us, particular uncertain-ties arise, among others, from changes in general economic and business conditions, changes in cur-rency exchange rates and interest rates, introduction of competing products or technologies by other companies, lack of acceptance of new products or services by customers targeted by Siemens world-wide, changes in business strategy and various other factors. More detailed information about certain of these factors is contained in Siemens’ filings with the SEC, which are available on the Siemens website, www.siemens.com and on the SEC’s website, www.sec.gov. Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.

Siemens AG
Corporate Communications
Media Relations

80312 München

Informationsnummer: SFS 2006.13d
Siemens Financial Services
Press Office

Dr. Christian Kosch
D - 80335 München
Tel.: +49-89-636-36070; Fax: -35485
E-Mail: christian.kosch(at)siemens.com

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