New board chairman of Mannesmannröhren-Werke AG

Wolfgang Eging appointed board chairman effective January 1, 2004

In a meeting convened on June 27, 2003, the supervisory board of Mannesmannröhren-Werke AG, a subsidiary of Salzgitter AG, appointed Wolfgang Eging as the new board chairman of Mannesmannröhren-Werke AG effective as of January 1, 2004.

Wolfgang Eging will be replacing Helmut F. Koch in his function as board chairman. Wolfgang Eging was already appointed board member of Salzgitter AG as of and will be responsible for the Tubes Division in this function.

Helmut F. Koch, who will be 63 in October 2003, will be resigning from his positions as a member of the Mannesmannröhren-Werke AG and Salzgitter AG management boards. As from February 13, 2003, Helmut F. Koch has held the post of chairman of the Arbeitgeberverband Stahl e.V. (Employer's Association of Steel Manufacturers) as of February 13, 2003. Subsequent to resigning his present posts, Salzgitter AG will appoint Helmut F. Koch as a member of the Mannesmannröhren-Werke AG supervisory board. In addition, Mr. Koch will be performing further supervisory functions within the Salzgitter Group.