Starting on June 9, 2008, Siemens AG will continue its share buyback program, which has a total volume of up to €10 billion, by acquiring a further tranche of up to €2 billion. This corresponds to a volume of up to 28 million shares at the current price. Within subject to market conditions the company intends to repurchase the shares by July 23, 2008 in order to cancel and reduce capital stock and, to a lesser extent, fulfill obligations arising out of stock compensation programs. “This is another important step toward achieving our capital structure goal while maintaining our financial strength. With this second tranche of our share buyback program, we’re rigorously implementing what we promised to our shareholders and owners,” said Siemens CFO Joe Kaeser.