Employees Worldwide Evaluate Continental Positively as Employer

HANOVER, Germany – December 29, 2008: Continental employees have once again given their company above average good marks. In several subject areas, the evaluations were by far better than the industry benchmarks. These are the findings of the “BASICS live” employee survey conducted for the second time by the University of Mannheim (Germany) in collaboration with Continental. More than 130,000 employees participated at some 200 Continental locations throughout the corporation. The questionnaire, which was available in 28 different languages, provided staff with the opportunity to voice their opinion of the corporate culture anonymously. As in 2006, the return rate of approximately 80 percent exceeded all expectations.

"The findings of the survey reflect what our employees think about the corporate culture as practiced. The marks regarding loyalty to the company, quality orientation, cooperation with the supervisors and in the respective work groups are clearly above the industry's benchmark," explained Executive Board member for human resources Heinz-Gerhard Wente. "Our employees see a need for improvement in the area of departmental strategy and cooperation between departments. This constructive feedback provides management with a valuable tool to help optimize work processes. We will incorporate many suggestions in detailed tasks and projects, as this is the only way to ensure that the continuous improvement process really works."

Wente pointed out that a total of 8,496 projects had been completed in response to the previous survey. Most of these projects dealt with Employee Development, Strategy of our Department, and Cooperation with Other Departments. "The staunch commitment of the employees when it came to improving the tasks indicated by the survey is for us proof that our BASICS are not just theory but are actually lived out on a daily basis," said Wente.

This year's "BASICS live" employee survey is the first of its kind after the acquisition and integration of Siemens VDO in the Continental Corporation. "It has provided us with a good barometer of the mood in the company. This is all the more important since in the integration process, the corporate culture plays a key role – it had a major impact on the running processes as well as on the cooperation," said Wente. "Employee loyalty, commitment and satisfaction are the basis for the success of any company. The findings of the survey therefore speak for the success of the integration activities and a merging of the two corporate cultures," according to Stefan Kraft, head of Corporate Human Resources Development and responsible for development of the corporate culture.

Our guidelines, the BASICS, have reflected the vision, the values and the self-image of the corporation since 1989, while at the same time helping to shape the future of the company. The key statements are:

In the interests of the entire corporation and our stakeholders, we will pursue every opportunity to create value.

We make individual mobility safer, more comfortable, and more sustainable.

Getting things done alone is history. Our employees make Continental strong.

We reward excellence and create working conditions to enhance and foster quality performance. We promote training, flexibility, loyalty, and superior results.

Our corporate culture inspires the actions of every individual as well as the teams and divisions worldwide.