The Supervisory Board of Zapf Creation AG, Europe’s leading manufacturer of play and functional dolls, elected Dr. Harald Rieger as its new chairman in its meeting on February 27, 2007. Dr. Rieger is succeeding the former chairman Miguel Perez-Carballo Villar, who will remain as a regular member of the Supervisory Board.

Dr. Rieger was a member of numerous domestic and foreign Supervisory Boards and has gained extensive restructuring experience in his former position as member of the Managing Board of Metallgesellschaft AG. Dr. Rieger will actively contribute this experience to Zapf Creation. During the past few years, Dr. Rieger was Managing Partner of a renowned law firm with which he is still associated.

Thomas Pfau, member of the Management Board of Zapf Creation, said: “We are very glad that we were successful in gaining the services of Dr. Rieger as chairman of the Supervisory Board. He is experienced in legal and business issues that are relevant for us. I am sure that Dr. Rieger will make a substantial contribution to the continued stabilization and profitable growth of our company in the future.”