At the beginning of 2008, we again conducted a survey of our shareholder structure. The total number of outstanding ordinary shares was 296,564,670. With 36% or about 107 million ordinary shares, the holdings of Fresenius SE remained nearly unchanged compared to the previous year. In total we identified just under 400 investors. Based on the free float 189,961,076, i.e. without the shareholdings of Fresenius SE, we were able to attribute about 71% or 134 million shares to their owners. The fraction of non-identified shares was about 29% or nearly 56 million shares of the free float. The top 25 investors held about 22% of our ordinary shares.

Most of our free-float shares continue to be held in the Great Britain and the Republic of Ireland as well as the U.S.: 34% are held by investors in Great Britain and Ireland, 28% are held by U.S. and Canadian investors. Some 15% of our shareholders are located in Germany. Other European investors hold about 20%, a significant increase compared to 2006 with 14%.

The proportion of shares held in the U.S. and Canada remained nearly constant, all other regions experienced a slight decrease compared to previous year.

Number of identified Shares*

2007

	Shares	% of total	% of Free Float
Total number of shares	296,564,670
Fresenius SE	106,603,026	36%
Free Float	189,961,076	64%
.Identified Free Float	134,090,929	45%	71%
...Institutional Investors	131,169,040	44%	69%
...Private Investors	2,921,889	1%	2%
Non-identified shares	55,870,147	19%	29%

2006

	Shares	% of total	% of Free Float
Total number of shares	294,994,596
Fresenius SE	106,603,026	36%
Free Float	187,886,766	64%
.Identified Free Float	159,455,049	54%	85%
...Institutional Investors	151,577,673	51%	81%
...Private Investors	7,877,376	3%	4%
Non-identified shares	28,431,717	10%	15%

2007

2006

	Shares	% of total	Shares	% of total
Great Britain & Ireland	44,963,400	34%	57,683,712	36%
U.S. & Canada	37,418,971	28%	43,441,134	27%
Germany	20,238,719	15%	27,155,802	17%
Rest of Europe	27,426,150	20%	23,052,915	14%
Rest of World	4,043,698	3%	8,121,486	6%
TOTAL	134,090,929	100%	159,455,049	100%