Supervisory Board Report

Dear Shareholders, 2008 was another very important year for the adidas Group. Major sports events such as the European Football Championship and the Olympic Games again drove the adidas brand to excellent levels of performance. TaylorMade-adidas Golf was again able to increase its revenues in a difficult golf market. At Reebok, key measures were initiated to revitalise the brand. But 2008 was also a year of major challenges, particularly in light of the global economic and financial crisis. The adidas Group delivered very good results in this difficult environment, confirming the successful implementation of the Group’s strategic plan.

Dr. Hans Friderichs

Chairman of the Supervisory Board

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