The Group has contingent liabilities as follows as a result of giving guarantees (excluding product warranties):

Credit guarantees are guarantees given by the Group with regard to creditors of third parties (guarantees to banks).

The notes sub-item represents the face value of notes issued that were not due or had not been honoured by the balance sheet date and which Group companies are liable to honour as endorsers.

Guarantees consist of contingent liabilities relating to buy-back arrangements entered into by Gottwald Port Technology GmbH in connection with sales of certain of its plant and machinery products. These arrangements generally have a term of one to five years. Buy-back obligations and similar guarantees can result from the sale of products to customers or leasing companies. Under some of these contracts, Gottwald Port Technology GmbH must buy back machines from a leasing company if a lessee defaults on lease payments, does not exercise a purchase option or does not extend the lease at the end of the initial lease term. Under others, Gottwald Port Technology GmbH must compensate leasing companies for financial losses suffered through customers defaulting on payment. In certain instances where customers purchase products directly from Gottwald Port Technology GmbH, the exercise of a buy-back option by the customer is subject to certain conditions. Based on past experience and the regional distribution of installed cranes, the Management Board considers it a remote possibility that buy-back options be exercised to a substantial extent at the same time. The maximum potential liability from buy-back arrangements amounted to EUR 48,535,000 at 30 September 2009 (30 September 2008: EUR 60,410,000).