MIRA INFORM REPORT

Report Date :

18.02.2013

IDENTIFICATION DETAILS

Name :	NKD VERTRIEBS GMBH

Registered Office :	Bühlstr. 5-7 D 95463 Bindlach Post Box 28

Country :	Germany

Date of Incorporation :	06.11.1962

Com. Reg. No.:	HRB 442

Legal Form :	Private Limited Company

Line of Business :	Retail sale of clothing

No. of Employees :	7,500

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 :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Germany

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

Source : CIA

Company name and address

NKD Vertriebs GmbH

Company Status: active

Bühlstr. 5-7

D 95463 Bindlach

Post Box:

Telephone:09208/699-0

Telefax: 09208/699-209

Homepage: www.nkd.de

E-mail: service@nkd.de

VAT no.

DE229155285

CONCLUSION

Business relations are permissible.

Registartion data

LEGAL FORM Private limited company

Date of foundation: 06.11.1962

Registered on: 05.05.1977

Commercial Register: Local court 95444 Bayreuth

under: HRB 442

Share capital

EUR 7,570,000.00

Shareholder

DAUN & Cie Aktiengesellschaft

Bahnhofstr. 21

D 26180 Rastede

Legal form: Public limited company

Share capital: EUR 21,000,000.00

Share: EUR 6,813,000.00

Registered on: 14.08.1985

Reg. data: 26135 Oldenburg, HRB 120211

Shareholder:

ATLAS Textil Verwaltungs GmbH

Bahnhofstr. 21

D 26180 Rastede

Legal form: Private limited company

Share capital: EUR 818,100.00

Share: EUR 757,000.00

Registered on: 08.04.1987

Reg. data: 26135 Oldenburg, HRB 120254

Manager:

Uwe Kantelhardt

D 95463 Bindlach

born: 01.05.1967

Manager:

Michael Andreas Krause

D 40210 Düsseldorf

having sole power of representation

born: 03.06.1976

Manager:

Ralph-Steffen Rosenbauer

D 45879 Gelsenkirchen

born: 30.10.1972

Proxy:

Thomas Ciesielski

D 95496 Glashütten