Capital increase in connection with exercise of warrants

Summary SimCorp's employees have exercised warrants and subscribed 23,100 shares of DKK 10 each at a market value of DKK 8,981,100, equivalent to an average price of approximately DKK 389 for each share of DKK 10. The shares subscribed correspond to approximately 0.5% of the share capital.

SimCorp's warrant programme is described in the annual report 2004 (announcement no. 98 of 24 February 2005) and in articles 5c and 5e of the company's articles of association.

Subscription of shares pursuant to section 5c of the articles of association has now been com-pleted. 74 persons subscribed a total of 23,100 shares (DKK 231,000 nominal value) at a total market value of DKK 8,981,100. 25,200 warrants lapsed after expiry of the exercise period. The company's share capital will be increased by DKK 231,000 nominal value, equivalent to approximately 0.5% of the share capital. Following the increase, SimCorp's share capital amounts to DKK 48,770,000 divided into 4,877,000 shares.

Employees on the company's insider register subscribed a total of 14,200 shares. Of these, members of the Board of Directors subscribed 2,000 shares, and members of the Manage-ment Board subscribed 6,000 shares.

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