FOR IMMEDIATE RELEASE

SIEMENS FINANCIAL SERVICES AND FIRST CAPITAL ANNOUNCE FORMATION OF JOINT VENTURE

Siemens First Capital Commercial Finance, LLC Expands the Companies’

Working Capital & Accounts Receivable Financing Businesses

ISELIN, NJ and WEST PALM BEACH, FLA., January 17, 2007 – Siemens Financial Services, Inc. (SFS), the U.S. financial services arm of Siemens AG, today announced the recent formation of Siemens First Capital Commercial Finance, LLC (Siemens First Capital), a joint venture between SFS and First Capital, a leading financial services firm headquartered in West Palm Beach, Fla. The goal of the joint venture is to further develop both companies’ working capital and accounts receivable financing businesses by offering market-leading solutions to customers in the domestic and Asian markets. Siemens First Capital, with offices in New York and several other locations in the U.S., will focus on cross-border asset-based financing between $20 million and $200 million by managing the collections and non-payment risk for Asian clients shipping goods into the U.S.

“The joint venture will enable us to strengthen our U.S. customer relationships by expanding our accounts receivable and working capital financing capabilities domestically while broadening our presence in the Asian market, namely China,” Roland Chalons-Browne, President and CEO of SFS, Inc. said. Peter Rek, Global Head of SFS’ Working Capital division, added, “Siemens First Capital will allow us to further develop our global commercial finance offering by leveraging First Capital’s proven track record of success in China.”

“This arrangement allows us to offer a winning combination to our customers, bringing together the financial strength of Siemens and its global reach along with the prompt, professional and reliable service that First Capital is known for,” said Mark Sunshine, CEO of Siemens First Capital. “We believe that this joining of superior service and balance sheet capacity will make Siemens First Capital the financial partner of choice for our discerning clients.”

“We are proud to be entering into this agreement with Siemens,” John Kiefer, First Capital’s President and CEO said. “Through this new entity, we will be able to offer more customers a complete suite of working capital and accounts receivable financing solutions while building upon SFS’ and First Capital’s commitment to excellence.”

About First Capital

First Capital is a leading financial services firm providing prompt, professional and reliable working capital solutions for middle market companies and institutions. Founded in 1987, the firm focuses on Traditional Factoring, Asset-Based Lending and Discount Factoring for clients in North America and Asia with financing needs from $35,000 to $250 million. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of old and new banking methods, First Capital provides clients with the proper support needed to grow and maintain their business. Based out of West Palm Beach, Florida, the firm has six full service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong.

About Siemens Financial Services

With some 1,700 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, the Siemens Financial Services Group offers a broad range of financial services. This covers activities from sales and investment financing to treasury services, fund management and insurance brokerage. The group's key customers are internationally active industrial and services companies, as well as public-sector operators. The group supervises 22 leasing companies worldwide. Further information: www.siemens.com/sfs.

Siemens Financial Services, Inc. (SFS) is a leading provider of business-to-business financial services and is one of Siemens' operating companies in the United States. SFS helps businesses increase productivity, improve cash flow and acquire the latest technology by providing customized solutions that range from equipment financing to working capital solutions. With U.S. headquarters in Iselin, N.J., SFS employs more than 250 industry experts who specialize in tailoring solutions for thousands of premier businesses. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/financial.

About Siemens

Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of 87.325 EUR billion in fiscal 2006. Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of 17.388 EUR billion and employs approximately 67,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 475,000 people in 190 countries. For more information on Siemens in the United States: www.usa.siemens.com.

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