Following the enactment of the Fourth Financial Markets Promotion Act on July 1, 2002, the members of REALTECH AG's Executive Board and Supervisory Board have been obligated, in accordance with Article 15a of the Securities Trading Law (Wertpapierhandelsgesetz, WpHG), to report purchases and sales of REALTECH shares. Moreover, Section 6.6. of the German Corporate Governance Codex contains a recommendation that such securities transactions be disclosed. In addition to the reporting of buying and selling transactions that involve REALTECH shares, it is also necessary to report other securities transactions that are related to REALTECH shares (e.g. the purchase or sale of warrants on REALTECH shares). Reporting is also necessary for securities transactions performed by spouses, registered non-marital permanent partners, or relations in the first degree.

Directors’ dealings in fiscal year 2011

In accordance with Section 15a of the German Securities Trading Act (WpHG), company managers have to disclose when they purchase or sell shares in REALTECH AG or instruments that relate to these, if a minimum threshold of EUR 5,000 is reached in a calendar year.

In fiscal year 2012 so far, REALTECH AG was required to report the following transactions:

Name	Status	Trading day Stock Exchange	Name of the financial Instrument	ISIN	Price (EUR)	Number	Transaction volumes (EUR)	Explanation
Dr. Rudolf Caspary	Executive Board	April 10, 2012 Frankfurt	Shares	DE0007008906	6.04	3,500	21,140	Purchase of shares

In fiscal year 2011, REALTECH AG was required to report the following transactions:

Name	Status	Trading day Stock Exchange	Name of the financial Instrument	ISIN	Price (EUR)	Number	Transaction volumes (EUR)	Explanation
Dr. Rudolf Caspary	Executive Board	May 12, 2011 Off-market	Convertible bond	DE0007008906	5.87	12,000	70,440	Conversion of convertible bonds as part of the 2006 program
Dr. Rudolf Caspary	Executive Board	May 25, 2011 Xetra	Shares	DE0007008906	8.15	12,000	97,800	Sale of shares
Dr. Rudolf Caspary	Executive Board	July 22, 2011 Xetra	Shares	DE70007008906	6.07	2,320	14,082	Purchase of shares
Thomas Mayerbacher	Executive Board	April 13, 2001 Off-market	Convertible bond	DE70007008906	5.87	1,5000	8,805	Conversion of convertible bonds as part of the 2006 program

Shareholding in the Executive and Supervisory Boards

The number of shares held directly or indirectly (as defined by Section 15a of the German Securities Trading Law – WpHG) by members of the Executive Board or financial instruments that relate to these is less than 1 percent of the issued shares.

Name	Number of shares as of Dec. 31, 2011	As a % of the issued shares
Dr. Rudolf Caspary	36,320	0,67
Thomas Mayerbacher	1,620	0,03
	37,940	0,70

The number of shares held directly or indirectly (as defined by Section 15a of the German Securities Trading Act – WpHG) by members of the Supervisory Board or financial instruments that relate to these is greater than 1 percent of the issued shares.

Name	Number of shares as of Dec. 31, 2011	As a % of issued shares
Daniele Di Croce	885,500	16.44
Rainer Schmidt	765,500	14,22
Peter Stier	745,500	13,84
	2,396,500	44,50