The analysis Good Practices and Systems for Enhancing the Knowledge and Skills for Investor Relations and Information Disclosure in EU Member States is prepared as a result of the implementation of project Enhancement of the Knowledge and Skills for Qualitative and Effective Communication at Disclosing Information to State Regulatory Bodies and the Investment Community.

This report is prepared on the basis of a visit of 3 representatives of BIRS to Germany in the end of October 2008. Meetings with representatives of the German Investor Relations Association (DIRK), companies traded on the stock exchange, and companies providing IR related services were held during the visit.

The visit to Italy was in October 2008. The meetings were organized with the cooperation of Stefano Marini, one of the pioneers in the IR profession in Italy, founder of the local IR Association (AIR), at present a member of the AIR Board of Directors and a Manager of a company offering solicitation and shareholders response.