I. Table of Contents - ISS

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tatiana\Bank Book\Public Bank Book\FINAL ISS PUBLIC Bank IM - Press Release to EMTN_1.doc 9 Nov 2005 10:32 30/91 30 Company Characteristics Figure 10: Overview of Historical Acquisitions, Revenues, 2000 – 9M 2005 (DKK million) 100% 80% 60% 40% 20% 0% 56 68 31 51 95 74 2000 2001 2002 2003 2004 9M 2005 < 100 million < 350 million < 750 million < 1,500 million Annualised Revenue of # of Acquisitions Acquisition 2000 2001 2002 2003 2004 9M-2005
tatiana\Bank Book\Public Bank Book\FINAL ISS PUBLIC Bank IM - Press Release to EMTN_1.doc 9 Nov 2005 10:32 31/91 H. Comprehensive Financial Management and Control 31 Company Characteristics ISS has implemented comprehensive financial management and control procedures, which it considers to be an essential element of its business. Through these procedures, ISS focuses, in particular, on cash management. Each country operation must submit monthly cash flow forecasts to the head office, and ISS’s corporate treasury monitors any deviations from these forecasts on a daily basis. In addition, these country operations are supervised by regional managers, and controllers employed by the head office visit the local operations regularly to ensure compliance with ISS’s control procedures. Please see below for a detailed summary of some of the key controls and systems which are in place: Table 10: Overview of Key Controls and Systems in Place Cash Forecasting Controls � Country CFOs required to make a daily forecast for the following month � Corporate treasury monitors actual development vs. forecast and follows up on deviations — Country CFO must be able to explain the actual development and deviations at very short notice Business Controls � Annual strategy reviews � Annual budget and financial plan � Quarterly forecast updates to budgets � Monthly business reviews � Cash flow statement � Monthly income statement, balance sheet and variance analysis � Monthly business reporting (P&L for local business units, portfolio reporting, sales status reporting, etc.) � Acquisitions approvals follow predefined formats � Corporate control function and strong local controls Source: ISS
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I. Table of Contents - ISS

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