In 2006 Goldman Sachs published a study „The World and the BRICs Dream“ which defined eleven additional countries from the emerging markets with really good chances to play an important role in the world economy in the future. These so-called „Next-11* countries“ are: Egypt, Bangladesh, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam. Target of theNext-11 concept is to filter out countries that show a similar economic development to the BRIC countries in the near future. The Next-11 countries are from a political, economic and cultural point of view well diversified and pretty heterogeneous. Not all Next-11 countries are tradable and investable.

DAXglobal® Emerging 11 Index currently replicates the performance of the seven most important countries from the Next-11 concept. The target of DAXglobal Emerging 11 Index is the provision of a liquid index for structured products and ETFs. This index enables issuers to offer tailor-made structured products to investors.

DAXglobal Emerging 11currently represents the performance of countries like Vietnam, Indonesia, Pakistan, South Korea, Turkey and Mexico as well as the Philippines. Overall the index is composed of 40 constituents.

*) The denomination "Next-11" is filed for registration as a trademark by Goldman Sachs.