Salzgitter AG announces Supervisory Board change

As already announced, the Chairman of the Supervisory Board of Salzgitter AG, Dr. Wilfried Lochte, following a highly successful eight-year period of activity, is handing over the office of Chairman of this controlling body to Rainer Thieme, with effect from March 31, 2007. Dr. Lochte will continue as a member of the Supervisory Board until the end of his period of office, in other words, until the General Meeting of Shareholders on May 21, 2008.He accepted the responsibility of the post of Chairman of the Supervisory Board in March 1999, at the request of the Government of the Land of Lower Saxony, and in a difficult phase of the Group's strategic reorientation.

During Dr. Lochte's period of office, decisive steps were taken to further develop Salzgitter AG. After he successfully recruited Wolfgang Leese in 2000 as Chairman of the Executive Board, Group strategy focused on preserving entrepreneurial independence through profitability and growth. The acquisition of Mannesmannröhren-Werke comprised a decisive step in this respect.

The Supervisory Board has elected Dr. Lochte as Honorary Chairman in the light of his commendable activity on behalf of Salzgitter AG.

In its meeting held on March 28, 2007, the Supervisory Board elected Rainer Thieme Chairman of the Supervisory Board with effect from April 1, 2007. Mr Thieme has been a member of the Supervisory Board since 2004. His career background comprises a 15-year activity as CEO of Wilhelm Karmann GmbH.