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REPORT OF ERNST & YOUNG LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Shareholders and Board of Directors of Systemax Inc.:
We have audited the accompanying consolidated balance sheets of Systemax Inc. as of December 31, 2006 and 2005, and the
related consolidated statements of operations, cash flows, and shareholders’ equity for each of the two years in the period
ended December 31, 2006. Our audit also included the 2006 and 2005 financial statement schedules listed in the
accompanying index in Item 15. These financial statements and schedules are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these financial statements and schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. We were not engaged to perform an audit of the Company’s internal control
over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial
position of Systemax Inc. at December 31, 2006 and 2005, and the consolidated results of its operations and its cash flows
each of the two years in the period ended December 31, 2006, in conformity with U.S. generally accepted accounting
principles. Also, in our opinion, the related 2006 and 2005 financial statement schedules, when considered in relation to the
basic financial statements taken as a whole, presents fairly in all material respects the information set forth therein.
As discussed in Note 1 to the consolidated financial statements, the Company adopted Statement of Financial Accounting
Standards No. 123(R), “Share-Based Payment,” effective January 1, 2006.
ERNST & YOUNG LLP
New York, New York
March 27, 2007
Richard Leeds
(Principal Executive Officer)
/s/ BRUCE LEEDS
Vice Chairman
March 30, 2007
Bruce Leeds
/s/ ROBERT LEEDS
Vice Chairman
March 30, 2007
Robert Leeds
/s/ LAWRENCE P. REINHOLD
Executive Vice President and Chief Financial Officer
March 30, 2007
Lawrence P. Reinhold
/s/ THOMAS AXMACHER
Vice President and Controller
March 30, 2007
Thomas Axmacher
(Principal Accounting Officer)
/s/ GILBERT FIORENTINO
Director
March 30, 2007
Gilbert Fiorentino
/s/ ROBERT D. ROSENTHAL
Director
March 30, 2007
Robert D. Rosenthal
/s/ STACY DICK
Director
March 30, 2007
Stacy Dick
/s/ ANN R. LEVEN
Director
March 30, 2007
Ann R. Leven