For information purposes, Deutsche Post AG, Bonn, has prepared another set of financial statements (modified financial information “financial statements Postbank at equity”) based on the statutory exempting consolidated statements in accordance with section 292a HGB. This modified financial information provides additional information about the net assets, financial position and results of operations of the Group that would have been reported if the Deutsche Postbank group had not been fully consolidated in accordance with IAS 27, but had been included as an associate accounted for at equity as described in the Explanatory Notes to the Modified Financial Information including the Deutsche Postbank Group at Equity. This modified financial information is not intended to provide a true and fair view of the financial position and results of operations in accordance with IASs.

We have reviewed the accompanying modified financial information of Deutsche Post AG, Bonn, consisting of the income statement, balance sheet and cash flow statement, but without a statement of changes in equity and explanatory notes for the period January 1 to December 31, 2002. The preparation of the modified financial information is the responsibility of the company’s Board of Management. Our responsibility is to issue a review report on these modified financial information based on our review.

We conducted our review in accordance with the International Standard on Auditing (ISA) applicable to review engagements. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the modified financial information is free of material misstatement.

A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

As discussed in the Explanatory Notes to the Modified Financial Information including the Deutsche Postbank Group at Equity, the Deutsche Postbank group had not been fully consolidated in accordance with IAS 27, but has been included as an associate accounted for at equity. In addition, and as also explained in the Explanatory Notes to the Modified Financial Information including the Deutsche Postbank Group at Equity, the financial information does not include a statement of changes in equity and certain explanatory notes.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying modified financial information has not been properly prepared, in all material respects, in accordance with the accounting policies set out in the Explanatory Notes to the Modified Financial Information including the Deutsche Postbank Group at Equity.

Without qualifying our opinion, we emphasize that the modified financial information does not, and is not intended to, provide a complete set of financial statements in accordance with International Accounting Standards.

Düsseldorf, February 24, 2003

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