Henning Kagermann Continue Quotations

We are pleased to say that we are off to a good start in 2006 with continued strong growth in software and product revenues for the first quarter.

While we are satisfied with the numbers, we are committed to moving even faster and executing even more effectively, ... Competition for Web-based products, particularly in the U.S., has been fierce and we will continue to invest considerable resources to strengthen the mySAP.com momentum.

We continued to demonstrate that organic growth is a very effective way to achieve success in this industry, and that it benefits our customers, partners and shareholders.

Europe was solid as anticipated, and the U.S. exceeded our expectations and we continued to gain market share,