Recommendations

Analysts' recommendations

Institute	Analyst	Recommendation	Date
SES Research	Malte Schaumann	Hold	18.08.2010
SES Research	Malte Schaumann	Hold	04.08.2010
DZ Bank	Dirk Schlamp	Buy	04.08.2010
SES Research	Malte Schaumann	Hold	18.06.2010
SES Research	Malte Schaumann	Buy	03.06.2010
DZ Bank	Dirk Schlamp	Buy	18.05.2010
SES Research	Malte Schaumann	Buy	06.05.2010
DZ Bank	Dirk Schlamp	Buy	20.04.2010
DZ Bank	Dirk Schlamp	Buy	03.03.2010
SES Research	Malte Schaumann	Hold	16.02.2010
Nord LB	Thomas Wybierek	Buy	12.11.2009
SES Research	Malte Schaumann	Hold	12.11.2009
DZ Bank	Dirk Schlamp	Buy	11.11.2009
SES Research	Malte Schaumann	Hold	10.09.2009
Nord LB	Thomas Wybierek	Buy	09.09.2009
Nord LB	Thomas Wybierek	Buy	18.08.2009
DZ Bank	Dirk Schlamp	Buy	17.08.2009
SES Research	Malte Schaumann	Buy	14.08.2009
SES Research	Malte Schaumann	Buy	06.08.2009

The above list is not neccessarily complete.

Please note that opinions and estimates given by analysts or journalists do not in all cases comply with opinions and estimates of LPKF Laser & Electronics AG. The listing of analysts and their recommendations does not neccesarily mean that LPKF agrees to these recommendations and conclusions.