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<p>On 1 October 2002, the Austrian Code of Corporate Governance was presented&nbsp;to the public for the first time. This Code of Corporate Governance<br />gave listed companies a set of voluntarily rules to help them establish good&nbsp;corporate governance and control systems. For more than a decade now,<br />Austrian laws on stock markets and capital markets have been supplemented&nbsp;by a self-regulatory standard based on the principle of comply or<br />explain. The Austrian Code of Corporate Governance has initiated a lot of&nbsp;positive changes and has helped strengthen the confidence of international<br />and national investors in our market. It serves as a benchmark in the Austrian&nbsp;capital market for good governance and controls, and has become<br />an essential component of the Austrian system of corporate governance.&nbsp;</p>

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