SAP is providing the following outlook for the full-year 2008, which has changed from the previous outlook provided on April 30, 2008. SAP has refined the outlook for Non-GAAP software and software-related service revenues at constant currencies and Non-GAAP operating margin at constant currencies.

• SAP reaffirmed that it expects full-year 2008 Non-GAAP software and software-related service revenue, which excludes a non-recurring deferred support revenue write-down from the acquisition of Business Objects of approximately €180 million, to increase in a range of 24% – 27% at constant currencies (2007: €7.428 billion), but SAP now expects to reach the upper end of the range. SAP reaffirmed that SAP's business, excluding the contribution from Business Objects, is expected to contribute 12 – 14 percentage points to this growth, but SAP now expects the contribution to reach the upper end of the range.
• SAP reaffirmed that it expects the full-year 2008 Non-GAAP operating margin at constant currencies, which excludes a non-recurring deferred support revenue write-down from the acquisition of Business Objects and acquisition-related charges, to be in the range of 28.5% – 29.0% (2007 non-GAAP operating margin: 27.3%), but SAP now expects to reach the upper end of the range.
• SAP continues to project an effective tax rate of 31.0% to 31.5% (based on U.S. GAAP income from continuing operations) for 2008.

The outlook is repeated here for informational purposes only and is in no way an update to the outlook provided earlier. SAP is under no obligation to update this outlook.