Statement

During the last week in September, press reports were published regarding the growth strategy of our Company.

These reports were neither initiated by us nor did we have knowledge of them.

We deem selective and continued growth to be essential for increasing our competitive and earnings situations. Both contribute towards strengthening the independence of our Company and thus ensure the decision-making competence of the Group for its locations. We shall adhere to these principles.

The successful development of Salzgitter AG since 1999 and the transformation of the Group into a management holding with five divisions as of July 1, 2001, are already in line with these objectives. Continuing constructive talks with other steel producers and steel-processing companies is still in accordance with our corporate strategy.

The Supervisory and Executive Boards agree unconditionally on these objectives.