Investor News Fresenius Medical Care AG & Co. KGaA Investor Relations Else-Kr ner-Str. 1 D-61352 Bad Homburg Contact: Oliver Maier Phone: + 49 6172 609 2601 Fax: + 49 6172 609 2301 E-mail: ir@fmc-ag.com North America: Te

Medical Care Reports Strong Start For 2008 and Confirms Outlook for Full Year

Summary First Quarter 2008:

Bad Homburg, Germany Fresenius Medical Care

AG & Co. KGaA ( the Company ), the world s largest provider

of dialysis products and services, today announced its results for the first quarter

Net revenue for the first quarter 2008 increased by 8% to

$2,512 million (4% at constant currency) compared to the first quarter 2007. Organic revenue growth worldwide was 5%.

Dialysis services revenue grew by 5% to $1,844 million (3% at constant

currency) in the first quarter of 2008. Dialysis product revenue increased by 19%

to $667 million (10% at constant currency) in the same period.

North America revenue increased by 2% to $1,668 million.

Dialysis services revenue grew by 1% to $1,495 million. Excluding effects

of the divestiture of the perfusion business in spring 2007, dialysis services

revenue increased by 3%. Average revenue per treatment for the U.S. clinics was at $326 in the first quarter 2008 compared to

quarter of 2007 and $325 for the fourth quarter of 2007. Versus the fourth

quarter of 2007, this development was based on an increase in underlying

reimbursement rates and an increase in EPO utilization. Dialysis product

revenue increased by 12% to $172 million well above market and was led by

strong sales of all of our major products, the 2008K hemodialysis machines,

concentrates, dialyzers and the phosphate binding drug PhosLo.

International revenue was $844 million, an increase of 23% (10% at

constant currency) compared to the first quarter of 2007. Dialysis services

revenue reached $349 million, an increase of 26% (13% at constant currency).

Dialysis product revenue rose by 22% to $495 million (9% at constant

currency), led by strong dialyzer and dialysis machine sales.

income (EBIT) increased

by 7% to $389 million

compared to $365 million in the first quarter 2007. Operating margin decreased from 15.7% in

the first quarter of 2007 to 15.5% in the first quarter of 2008 reflecting mainly

the increased expenditures for our corporate research and development

activities and the expansion in the International dialysis services business.

North America, the operating margin increased by 60 basis points from 15.8% to

16.4% in the first quarter of 2008. The strong underlying business was supported

by the increase in underlying reimbursement rates, dialysis services cost

containment and a continued strong performance of renal products and PhosLo.

This was partially offset by a lower utilization and reduced reimbursement

the International segment, the operating margin decreased by 60 basis points to

17.0% mainly due to the growth in the dialysis care business through an

increased number of De Novo clinics and associated start-up costs.

Net interest expense for the first quarter 2008 was $83 million

compared to $95 million in the same quarter of 2007. This positive

development was mainly attributable to lower average interest rates.

Income tax expense was $114 million for the first quarter of 2008 compared to $103 million

in the first quarter of 2007, reflecting effective tax rates of 37.3% and 38.0%, respectively.

Net income for the first quarter 2008 was

$186 million, an increase of 16%.

Earnings per share (EPS) for the first quarter of 2008 rose by 15% to $0.63 per ordinary share

compared to $0.54 for the first quarter of 2007. The weighted average number of

shares outstanding for the first quarter of 2008 was approximately

296.6 million shares compared to 295.2 million shares for the first

quarter of 2007. The increase in shares outstanding resulted from stock option

exercises in 2007 and in the first quarter 2008.

In the first quarter of 2008,

the Company generated $192 million in cash

representing approximately 8% of revenue. The cash flow generation was primarily

affected by an increase in Days Sales Outstanding (DSO) in the first quarter of

2008 compared to 2007 and higher income tax payments.

A total of $154 million was

spent for capital expenditures, net of disposals. Free Cash

Flow before acquisitions was $38 million compared to $174 million

in the first quarter of 2007 on a reported basis. A total of $32 million in

cash was used for acquisitions net of divestitures.

Free Cash Flow after acquisitions and

divestitures was $6 million compared to $84 million in the

first quarter last year.

refer to the attachments for a complete overview on the first quarter of 2008 and

the reconciliation of non-GAAP financial measures included in this release to

the most comparable GAAP financial measures.

Patients Clinics Treatments

As of March 31, 2008, Fresenius

Medical Care treated 177,059 patients

worldwide, which represents a 5% increase in patients compared to the same

period last year. North America provided dialysis treatments for

122,691 patients, an increase of 3%. Including 32 clinics managed by

Fresenius Medical Care North America, the number of patients in North America

was 124,403. The International segment served 54,368 patients, an increase of

As of March 31, 2008, the

Company operated a total of 2,297 clinics

worldwide. This is comprised of 1,640 clinics in North America, an

increase of 4%, and 657 clinics in the International segment, an increase of

Fresenius Medical Care

delivered approximately 6.72 million dialysis treatments worldwide

during the first quarter of 2008. This represents an increase of 5% year

over the same quarter last year. North America accounted for 4.65 million

treatments, an increase of 4%, and the International segment delivered

2.08 million treatments, an increase of 8% over last year.

of March 31, 2008, Fresenius

Medical Care had 62,504 employees (full-time equivalents) worldwide compared to

61,406 employees at the end of 2007. The increase of approximately 1,100

employees is primarily due to the Company s overall growth in business.

ratio of debt to Earnings before Interest, Taxes and Amortization (EBITDA)

decreased from 3.09 at the end of the first quarter 2007 to 2.82 at the end of

the first quarter 2008. At the end of 2007, the debt/EBITDA ratio was 2.84.

& Poor s has assigned upgraded debt and recovery ratings to the Company s

unsecured debt issues in the first quarter of 2008. The Company s corporate

credit rating as BB with a stable outlook remained unchanged.

continued to rate the Company s corporate credit rating as Ba2 with a

positive outlook in the first quarter of 2008.