Related parties for the purposes of IAS 24

Deutsche EuroShop AG’s subsidiaries and the members of its Executive Board and Supervisory Board are regarded as related parties for the purposes of IAS 24. The remuneration of the Supervisory Board and the Executive Board is described in the notes.

Income of €6,396 thousand (previous year: €6,248 thousand) was generated in the financial year from the Douglas Group under existing lease agreements. Receivables from the Douglas Group amounted to €292 thousand on the balance sheet date.

Fees for service contracts with the ECE Group amounted to €27,772 thousand (previous year: €18,846 thousand). This amount was partially offset by income from lease agreements with the ECE Group in the amount of €5,278 thousand (previous year: €4,674 thousand). Receivables from ECE amounted to €2,565 thousand, while liabilities were €3,644 thousand.

Transactions with related parties involving the provision of goods and services were at standard market rates.

With effect from 31 December 2010, a voting agreement was entered into with ARENA Vermögensverwaltung (G.m.b.H. & Co.), a company belonging to Alexander Otto, in relation to adopting resolutions at Immobilien Kommanditgesellschaft FEZ Harburg, Hamburg. In return, ARENA Vermögensverwaltung (G.m.b.H. & Co.) received compensation amounting to €10 thousand.

Hamburg, 13 April 2011

Deutsche EuroShop AG
The Executive Board

Signature Böge Signature Borkers
Claus-Matthias Böge Olaf G. Borkers

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