##### 



Exhibit 8
 SUBSIDIARIES,
EQUITY METHOD INVESTMENTS, AND OTHER INVESTMENTSas of December 31, 2005
 Name and location of companyI. SubsidiariesGERMANYSAP Deutschland AG & Co. KG, WalldorfSAP Systems Integration AG, Dresden 2), 3)SAP Hosting AG & Co. KG, St. Leon-RotSteeb Anwendungssysteme GmbH, AbstattSAP Passau GmbH & Co. KG, Passau 1)SAP Beteiligungs GmbH, WalldorfSAP Portals Europe GmbH, Walldorf 2)SAP Beteiligungsverwaltungs GmbH, WalldorfSAP SI Consulting GmbH, WalldorfSAP Projektverwaltungs und Beteiligungs GmbH, Walldorf 1), 2)SAP Administrations Beteiligungs GmbH, WalldorfSAP Retail Solutions Beteiligungsgesellschaft mbH, WalldorfSAP Investment- und Beteiligungs GmbH, WalldorfeSAP Beteiligungs GmbH, WalldorfSAP Hosting Beteiligungs GmbH, St. Leon-RotSAP Foreign Holdings GmbH, WalldorfSAP Portals Holding Beteiligungs GmbH, Walldorf 2)REST OF EUROPE, MIDDLE EAST, AFRICASAP (UK) Limited, Feltham, Great BritainSAP France S.A., Paris, FranceSAP (Schweiz) AG, Biel, SwitzerlandS.A.P. ITALIA Sistemi Applicazioni Prodotti in data processing S.p.A., Milan, Italy 2)S.A.P. Nederland B.V., s-Hertogenbosch, The Netherlands 2)SAP Österreich GmbH, Vienna, AustriaSAP España Sistemas, Aplicaciones y Productos en la Informática, S.A.,
Madrid, Spain 2)SYSTEMS APPLICATIONS AND PRODUCTS IN DATA PROCESSING
(NV SAP BELGIUM SA), Brussels, Belgium 2)Limited Liability Company SAP CIS, Moscow, RussiaSAP Danmark A/S, Kopenhagen, DenmarkSystems Applications Products (Africa) (Pty) Ltd, Johannesburg, South AfricaSAP Svenska Aktiebolag, Stockholm, SwedenSAP CR, spol. s r.o., Praha, Czech RepublicSAP Portugal  Sistemas, Aplicações e Produtos Informáticos, Sociedade Unipessoal, Lda.,
Paço de Arcos, PortugalSAP Norge AS, Lysaker, NorwaySAP Finland Oy, Espoo, FinlandSAP Public Services (Pty) Ltd, Johannesburg, South Africa 2)SAP SSC (Ireland) Limited, Dublin, IrelandSAP Portals Israel Ltd., Raanana, Israel 2)SAP Polska Sp. z o.o., Warsaw, PolandSAP Hungary Rendszerek, Alkalmazások és Termékek az
Adatfeldolgozásban Informatikai Kft., Budapest, HungarySAP Slovensko s.r.o., Bratislava, SlovakiaSAP Labs Israel Ltd., Raanana, IsraelSAP HELLAS SYSTEMS APPLICATIONS AND DATA PROCESSING S.A, Athens, GreeceSAP Türkiye Yazilim Üretim ve Ticaret A.S., Istanbul, TurkeySAP LABS France S.A.S., Mougins, FranceSAP sistemi, aplikacije in produkti za obdelavo podatkov d.o.o.,
Ljubiljana, SloveniaLimited Liability Company SAP Ukraine, Kiev, UkraineSAP Labs Bulgaria EOOD, Sofia, BulgariaSAP Ireland Limited, Dublin, IrelandSAP Kazakhstan LLP, Almaty, KazakhstanSAP Business Services Center Europe s.r.o., Praha, Czech RepublicSAP d.o.o., Zagreb, CroatiaSAP Manage Ltd, Raanana, IsraelSAP BULGARIA LTD, Sofia, Bulgaria 2)SAP CYPRUS LTD, Nicosia, Cyprus 2)Systems Applications Products Limited, Abuja, Nigeria 2)TomorrowNow (UK) Ltd., Feltham, Great Britain 1), 2)SAP Romania SRL, Bucarest, Rumania 1)Ithinqcom (Pty) Ltd, Johannesburg, South Africa 2)SAP Public Services BEE Investment Trust (Pty) Ltd, Johannesburg, South Africa 2)Ambin Properties (Pty) Ltd, Johannesburg, South Africa 2)TomorrowNow Nederland B.V., Amsterdam, The Netherlands 1)SAP PORTALS UK LIMITED, Guildford, Great Britain 2)AMERICASSAP America, Inc., Newtown Square, Pennsylvania, USASAP Canada Inc., Toronto, CanadaSAP Labs, LLC, Palo Alto, California, USA 2)SAP Public Services, Inc., Washington, D.C., USA 2)SAP Brasil Ltda, Sao Paulo, BrazilSAP Global Marketing Inc., New York, New York, USASAP México, S.A. de C.V., Mexico City, MexicoSAP Andina y del Caribe, C.A., Caracas, VenezuelaSAP ARGENTINA S.A., Buenos Aires, ArgentinaSAP International, Inc., Miami, Florida, USA 2)TomorrowNow, Inc., Bryan, Texas, USA 1), 2)Triversity Inc., Toronto, Canada 1), 2)SAP Georgia LLC, Newtown Square, Pennsylvania, USA 2)SAP Government Support and Services, Inc., Newtown Square, Pennsylvania, USA 2)Triversity Corporation, Bristol, Pennsylvania, USA 1), 2)SAP Properties, Inc., Newtown Square, Pennsylvania, USA 2)Triversity CRM Solutions, Bristol, Pennsylvania, USA 1), 2)SAP Financial Inc., Toronto, Canada 2)SAP Investments, Inc., Wilmington, Delaware, USA 2)Trimax Finance Inc., Wilmington, Delaware, USA 1), 2)Transact In Memory, Inc., Menlo Park, California, USA 1)Trimax Retail Systems Inc., Atlanta, Georgia, USA 1), 2)Trimax US Holdings Inc., Wilmington, Delaware, USA 1), 2)ASIA, PACIFICSAP JAPAN Co., Ltd., Tokyo, JapanSAP Australia Pty Limited, Sydney, AustraliaSAP INDIA SYSTEMS, APPLICATIONS AND PRODUCTS IN DATA PROCESSING PRIVATE LIMITED, Bangalore, IndiarSAP (Beijing) Software System Co., Ltd., Beijing, ChinaSAP Asia Pte Ltd, SingaporeSAP Korea Ltd., Seoul, KoreaSAP Labs India Private Limited, Bangalore, IndiaSAP MALAYSIA SDN BHD, Kuala Lumpur, MalaysiaSAP HONG KONG CO. LIMITED, Hong Kong, ChinaSAP New Zealand Limited, Auckland, New ZealandSAP TAIWAN CO., LTD., Taipei, TaiwanSAP SYSTEMS, APPLICATIONS AND PRODUCTS
IN DATA PROCESSING (THAILAND) LTD., Bangkok, ThailandPT SAP Indonesia, Jakarta, IndonesiaSAP PHILIPPINES, INC., Makati, PhilippinesTIM System Inc., Seoul, Korea 1), 2)Triversity Asia/Pacific PTY Limited, Sydney, Australia 1), 2)SAP INDIA (HOLDING) PTE LTD, SingaporeSAPMarkets Asia Pacific Solutions Pte Ltd., SingaporeTomorrowNow Singapore Pte Ltd., Singapore 1), 2)II. EQUITY METHOD INVESTMENTSGlobal Virtual Marketplace GmbH i.L., Munich, GermanyPandesic LLC i.L., Newtown Square, Pennsylvania, USAProcurement Negócios Eletrônicos S/A, Rio de Janeiro, BrazilIII. OTHER INVESTMENTS (ownership 5 or more percent)Abaco Mobile, Inc., Alpharetta, Georgia, USAApriso Corporation, Long Beach, California, USAAvokia, Inc., Toronto, CanadaDatria Systems, Inc., Englewood, Colorado, USADeutsches Forschungszentrum für Künstliche Intelligenz GmbH, Kaiserslautern, Germanye-millenium 1 GmbH & Co. KG, Munich, GermanyFactory Logis, Inc., Austin, Texas, USAGrau Data Storage AG, Schwäbisch Gmünd, GermanyHUBWOO.com SA, Paris, FranceHuman Resource Management & Consulting Co. Ltd., Tokyo, JapanIBSN, Inc., Denver, Colorado, USAIgnite Technologies, Inc., Dallas, Texas, USAimc information multimedia communication AG, Saarbrücken, GermanyIntalio, Inc., Redwood City, California, USAiTAC Software AG, Dernbach, GermanyMarketline Internet Szolgáltató Részvénytársaság i.L., Budapest, HungaryMVP Strategic Partnership Fund GmbH & Co. KG, ehemals Munich Venture Partners Managementgesellschaft mbH, Grünwald, GermanyOnventis GmbH, Stuttgart, GermanyOpsTechnology, Inc., San Francisco, California, USAOrbian Corporation Ltd., Bermuda, USAParticle Computer GmbH, Karlsruhe, GermanyPing Identity Corporation, Denver, Colorado, USAPowersim Corporation, Herndon, Virginia, USARealize Corporation, Tokyo, JapanSocialText, Inc., Palo Alto, California, USASteelEye Technology, Inc., Palo Alto, California, USASupplyOn AG, Hallbergmoos, GermanyT3C, Inc., Mountain View, California, USAVenture-Capital Beteiligung GbR mbH, Frankfurt am Main, GermanyVoiceObjects Inc., San Mateo, California, USAZend Technologies Ltd., Ramat Gan, Israel
 1)
    
    Consolidated for the first time in 20052)
    
    Represents a wholly or majority owned entity of a subsidiary3)
    
    Publicly held company