Extraordinary Shareholders' Meeting, November 17, 2005

Around 1,000 shareholders and shareholders' representatives attended the extraordinary shareholders' meeting on November 17, 2005 in the Stadthalle of Braunschweig. They represented 26,026,728 shares; this corresponds to capital of 41.17 percent.

The agenda included the following points among others:

• Approval of the agreement between Salzgitter AG as the assigning company and its 100% subsidiary Salzgitter Mannesmann GmbH as the acquiring company, regarding the spin-off and acquisition agreement and regarding the transfer of shareholdings and selection of the auditor for the accounts of Salzgitter AG of 30.11.2005 (final accounts as per § 17 paragraph 2 of the Company Transformation Act)
• Special election of Supervisory Board members a) Nomination Dr. Johannes Teyssen b) Nomination Michael Sommer c) Nomination Walter Skiba d) Nomination Prof. Dr. Ulrich Zachert
• Modifications to the byelaws
• New remuneration settlement for the Supervisory Board

The motions for resolutions were approved with over 90 percent of votes. The Chairman of the Supervisory Board of Salzgitter AG, Dr. Wilfried Lochte, ended the shareholders' meeting at 2.45 p.m.