Munich/Paris, November 2nd, 2006–The world’s second largest smart card supplier, Giesecke & Devrient (G&D), opened a subsidiary in Paris, France. The wholly owned G&D subsidiary offers complete smart card solutions for the country’s banking and telecom markets.

With a market penetration of almost 80 percent each on average, nearly every citizen of France carries one smart card in his or her cell phone and one in his or her wallet. Not only because of these statistics is France one of the most important markets in Europe. When it comes to electronic payment and mobile communications, the country has enormous potential for high-end products and innovative card solutions, such as contactless payment cards or large memory SIM cards.

“For our company, the newly founded subsidiary is a crucial prerequisite to establishing closer contacts with French customers”, explains Michael Kuemmerle, member of the Management Board of G&D. During the last few years, the French market has consolidated, and more and more of the country’s financial institutions and operators have become global players serving their clients’ operations worldwide. “With its global presence and local subsidiary in Paris, G&D will be the ideal partner for French companies and institutions, allowing the best and most timely support on site as well as throughout the world”, Kuemmerle adds.

About Giesecke & Devrient

Giesecke & Devrient (G&D) is a technology leader in the field of smart cards, providing smart card based solutions for telecommunications, electronic payment, health care, ID, transportation, and IT security (PKI). G&D is also a leading producer of banknotes and security documents and is dominant in the field of currency automation. Based in Munich, Germany, the G&D group has subsidiaries and joint ventures around the world. In fiscal 2005, the Group employed some 7,500 people and generated revenue of €1.24 billion. For more information, visit our Web site at http://www.gi-de.com.