25 Notes to the Condensed Consolidated Interim Financial Statements For the Period January 1 to March 31, 2009 1 CORPORATE INFORMATION SAF-HOLLAND S.A. (the "Company") was incorporated on December 21, 2005 under the legal form of a "Société Anonyme" according to Luxembourg law. The registered office of the Company is in Luxembourg. The shares of the Company are listed in the Prime Standard of the Frankfurt Stock Exchange. 2 SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements of SAF-HOLLAND S.A. and its subsidiaries (the "Group") have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union and in effect as of the closing date. The consolidated interim financial statements for the first quarter of 2009 have been pre- pared in accordance with IAS 34 ,,Interim Financial Reporting." As a rule, the same account- ing policies and consolidation methods were applied as in the Group's annual financial statements for the fiscal year 2008. Therefore, the consolidated interim financial statements should be read in conjunction with the Group's annual financial statements as of December 31, 2008. New or revised standards and interpretations, of which the application is required beginning in the fiscal year 2009, are exceptions to the accounting principles stated in the 2008 annual report. IAS 1 Presentation of Financial Statements (Revised 2007) According to this standard, a company is required to disclose all changes in equity from transactions with owners in their capacity as owners separately from other changes in equity. The other changes in equity are disclosed in the statement of comprehensive income. According to the previous standard, these changes in equity had been presented in the state- ment of changes in equity. The Group has decided to present total comprehensive income in a single statement. In the future, the income statement will be referred to as the state- ment of comprehensive income and supplemented by the component "other comprehensive income." The presentation of the comparison period was modified accordingly. Other relevant changes and revisions, which similarly must be applied as of January 1, 2009, are described in the 2008 annual report. However, they have no material impact on the consolidated interim financial statements.