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Last Update: 03/12/2009
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Annual Financial Statements of BASF SE and Consolidated Financial Statements

On the basis of the preliminary review by the Audit Committee, on which the Chairman of the Audit Committee reported to the Supervisory Board, the Supervisory Board have examined the Financial Statements and Management’s Analysis of BASF SE for 2008, the proposal by the Board of Executive Directors for the appropriation of profit, the Consolidated Financial Statements, and Management’s Analysis for the BASF Group for 2008. KPMG AG Wirtschaftsprüfungsgesellschaft, the auditors elected by the Annual Meeting for the fiscal year 2008, have audited the Financial Statements of BASF SE and the Consolidated Financial Statements including Management’s Analysis under consideration of bookkeeping, and have approved them free of qualification. Furthermore the auditor certified that the Board of Executive Directors had taken the measures incumbent on it under Section 91, paragraph 2 of the German Stock Corporation Act in an appropriate way. In particular, it had instituted a suitable information and monitoring system that met the needs of the company and appeared suitable, both in design and the way in which it had been applied, to provide early warning of developments that pose a threat to the continued existence of the company.

The documents to be examined and the auditors’ reports were sent timely to every member of the Supervisory Board. The auditors attended the accounts review meeting of the Audit Committee on February 25, 2009, as well as the accounts meeting of the Supervisory Board on March 3, 2009, and reported on the main findings of their audit. The auditors also provided detailed explanations of their reports on the day before the accounts review meeting of the Supervisory Board.

We have reviewed the auditors’ reports and agree with them. The results of the preliminary review by the Audit Committee and the results of our own examination fully concur with those of the audit. The Supervisory Board sees no grounds for objections to the management and the submitted reports.

At the Supervisory Boards accounts meeting on March 3, 2009, we approved the Financial Statements of BASF SE prepared by the Board of Executive Directors and the Consolidated Financial Statements of the BASF Group, making the Financial Statements final. We concur with the proposal of the Board of Executive Directors regarding the appropriation of profit and the payment of a dividend of €1.95 per share.

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