WHAT IS SAP?

Founded in 1972, SAP (Systems, Applications and Products in Data Processing) 
in Walldorf, Germany, is the leading global provider of client/server business 
application solutions.

Today,  more than 7500 customers in  over 90 countries have chosen SAP 
client/server and mainframe business aplications to manage comprehensive 
financial, manufacturing, sales and distribution, and human resources functions 
essential to their operations. For more than 25 years, SAP has been recognized
by its customers for excellence in software technology. 

Most prominent among  SAP's product range are the  enterprise application suites 
R/2 and R/3: R/2 applications for the mainframe environment and the more recent R/3 
applications for open client/server systems.  With both R/2 and R/3, customers can 
opt to install the core system and one or more of the functional components, or purchase 
the software as a complete package. 

SAP customers have chosen to install R/3, SAP's client/server suite, in more than 13,000 
sites worldwide. R/3 is accepted as the standard in key industries such as oil, chemicals, 
consumer products, and high technology and electronics. SAP AG employs a work force 
of over 13,000 and has offices in more than 50 countries worldwide. SAP is the No. 1 vendor 
of standard business-application software and is the fourth-largest independent software 
supplier in the world. In its most recent fiscal year, ending Dec. 31, 1997, SAP AG reported 
revenues of DM 6 billion, a 62-percent increase over 1996 revenues. In the same period, 
sales of R/3 rose 63 percent. 

Since 1988, SAP AG has been a publicly held corporation withshares traded on the German 
and Swiss stock exchanges; in 1995, the company was added to the DAX, the index of German
blue-chip companies. In the United States, SAP's unrestricted American Depository Receipts
(ADR) trade over the counter under the symbol "SAPHY." SAP plans to have its shares listed 
at the New York Stock Exchange (NYSE) in the third quarter of 1998.

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