My GC expires on Feb 2007.However from October I need to travel to the Non-EU countries and must have a valid visa for 6 Months. The Auslanderamt said that I cannot get NE because I have not completed 5 years but they can extend the validity of the current visa by atleast 3 years. My question is that if I accept such a proposal can I after completion of 5 years(Feb 2007) apply for NE or need to wait until 3 years are complete.
Any help or suggestion on this will be highly appreciated.

Your questions have all the answers. As long as you have additional money for NE fees and time to submit all the necessary documents then no probs.