MIRA INFORM REPORT

Report Date :

14.07.2007

IDENTIFICATION DETAILS

Name :	K + L Ruppert Stiftung & Co. Handels-KG

Registered Office :	Paradeisstr. 67, 82362 Weilheim

Country :	Germany

Date of Incorporation :	01.01.1963

Com. Reg. No.:	HRA 75385

Legal Form :	Limited partnership with a foundation as general partner

Line of Business :	Retail Sale of Clothing in Non-Specialized Stores

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

name & address

K + L Ruppert Stiftung & Co. Handels-KG

Paradeisstr. 67

82362 Weilheim

Telephone : 0881/180-0

Telefax : 0881/180-230

Homepage : www.kl-ruppert.de

CONCLUSION

Business relations are permissible.

The company is considered solvent for credits within its scope of business.

LEGAL FORM

Limited partnership with a foundation as general partner

Date of foundation

01.01.1963

Registered on

17.12.1999

Local court 80797 MÜNCHEN

Under

HRA 75385

Total cap. Contribution

EUR 1.525.000,00

General Partner

Gebr. Ruppert Familienstiftung

Königstr. 3

70173 Stuttgart

Legal form: Private law foundation

Limited Partner

K + L Ruppert Zentralverwaltung Stiftung & Co. KG

Paradeisstr. 67

82362 Weilheim

Legal form: Limited partnership with a foundation as general partner

Total cap. contribution: EUR 25.564.594,06

Share: EUR 1.525.000,00

Reg. Data: 18.01.1996

HRA 70678

80797 MÜNCHEN

Employees: 1.508

Profit transfer agreement

Further functions/participations of Gebr. Ruppert Familienstiftung (General

Partner)

General Partner:

K + L Ruppert Zentralverwaltung Stiftung & Co. KG

Paradeisstr. 67

82362 Weilheim

Legal form: Limited partnership with a foundation as general partner

Total cap. contribution: EUR 25.564.594,06

Reg. Data: 18.01.1996

HRA 70678

80797 MÜNCHEN

Employees: 1.508

BUSINESS HISTORY

01.01.1963

K + L Ruppert GmbH (AG München, HRB 59478)

Paradeisstr. 67

82362 Weilheim

Private limited company

17.12.1999

K + L Ruppert GmbH & Co. KG

Paradeisstr. 67

82362 Weilheim

Ltd partnership with priv. ltd. Company as General partner

05.09.2001

K + L Ruppert Stiftung & Co. KG

Paradeisstr. 67

82362 Weilheim

Ltd partnership with priv. ltd. Company as General partner

15.01.2002

K + L Ruppert Stiftung & Co. Handels KG

Paradeisstr. 67

82362 Weilheim

Limited partnership with a foundation as general partner

BUSINESS ACTIVITIES

52421

RETAIL SALE OF CLOTHING IN NON-SPECIALIZED STORES

BRANCHES AND FACTORIES

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung -

Schmiedstr. 15

82362 Weilheim

Branch:

K + L Ruppert Stiftung & Co. Handels KG -

Niederlassung -

Bahnhofstr. 6

87435 Kempten

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung -

Hirschstr. 10

89073 Ulm

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung -

Postplatz 1

08523 Plauen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

85049 Ingolstadt

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

83022 Rosenheim

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

84453 Mühldorf

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

90402 Nürnberg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

92318 Neumarkt

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

94032 Passau

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

83395 Freilassing

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

87700 Memmingen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

84028 Landshut

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

Hohenzollernring 58

95444 Bayreuth

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

92224 Amberg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG

87600 Kaufbeuren

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

92637 Weiden

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

85354 Freising

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

Weichser Weg 5

Donaueinkaufszentrum

93059 Regensburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

Willy-Brandt-Platz 5

81829 München

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

88045 Friedrichshafen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

86150 Augsburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

86609 Donauwörth

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

98527 Suhl

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

95028 Hof

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

96450 Coburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

89231 Neu-Ulm

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

96047 Bamberg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

78050 Villingen-Schwenningen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung -

Heinkelstr. 1-11

71634 Ludwigsburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung -

Karlstr. 12

89518 Heidenheim

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

94315 Straubing

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

93413 Cham

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

94469 Deggendorf

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

91052 Erlangen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

88212 Ravensburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

84347 Pfarrkirchen

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

97070 Würzburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

Königstr. 3

70173 Stuttgart

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

63739 Aschaffenburg

Branch:

K + L Ruppert Stiftung & Co. Handels-KG -

Niederlassung-

72764 Reutlingen

PARTICIPATION

Shareholder:

KFN Verwaltungs GmbH

Diekstraat 13

25870 Norderfriedrichskoog

Legal form: Private limited company

Share capital: EUR 31.000,00

Share: EUR 31.000,00

Reg. Data: 07.05.2002

HRB 1733 HU

24937 FLENSBURG

FINANCIAL INFORMATION

Payment experience: within agreed terms

REAL ESTATE

Type of ownership: Tenant

Address Paradeisstr. 67

82362 Weilheim

Private real estate

Name Gebr. Ruppert Familienstiftung

Type of ownership: Tenant

Address Königstr. 3

70173 Stuttgart

Land register documents were not available.

BANKERS

BAYER HYPO- UND VEREINSBANK, MÜNCHEN

Sort. code: 70020270

BAYER HYPO- UND VEREINSBANK, WEILHEIM I. OB

Sort. code: 70321194

BAYER HYPO- UND VEREINSBANK, LANDSHUT, ISAR

Sort. code: 74320073, Account No: 3845338

DEUTSCHE BANK, MÜNCHEN

Sort. code: 70070010, Account No: 217777200

BAYERISCHE LANDESBANK, MÜNCHEN

Sort. code: 70050000, Account No: 1238645

VEREINIGTE SPARKASSEN IM LANDKREIS WEILHEIM, WEILHEIM I. OB

Sort. code: 70351030

FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2005 EUR 327.050.000,00

2006 EUR 320.000.000,00

Total cap. contribution: EUR 1.525.000,00

Value of stocks: EUR 15.300.000,00

Equipment: EUR 5.600.000,00

Employees: 2.600

Branch number: 52421

Profit transfer agreement with:

K + L Ruppert Zentralverwaltung Stiftung & Co. KG

82362 Weilheim

Approximate figures are given.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions