ad hoc

SKW Metallurgie downsizes Board of Management – J. Klaus Frizen leaves Group after successful IPO

Unterneukirchen (Germany), April 23, 2007. The Board of Management of SKW Stahl-Metallurgie Holding AG (ISIN DE000SKWM013) will be downsized from three to two members effective May 1, 2007. This step is taken in connection with J. Klaus Frizen’s retirement from the Group, which he has led as Co-CEO with Ms. Ines Kolmsee since November 2, 2006.

Mr. Frizen was appointed to the Board in preparation of the IPO, which was successfully completed on December 1, 2006. His appointment was based on his longstanding experience in the steel industry through various management positions with several companies of the ThyssenKrupp Group and its predecessors. Mr. Frizen was also appointed Chairperson of the Board. This was done in order to maintain the Board’s full capacity to act – in particular immediately before and after the IPO – also for the case that Ms. Kolmsee would not be fully capable of performing her professional duties in the last weeks of her then pregnancy as well as in the time thereafter. However, Ms. Kolmsee resumed her full professional duties already shortly after the birth of her child. Therefore and after the common compilation of the first annual financial accounts as a joint-stock corporation, Mr. Frizen is going to leave the company effective April 30. Hence, the Board of Management of SKW Stahl-Metallurgie Holding AG consists of Ms. Kolmsee as Chairperson (CEO) und Mr. Gerhard Ertl as CFO.

„The Supervisory Board would like to thank Mr. Frizen for his excellent work in connection with the successful IPO of SKW Stahl-Metallurgie Holding AG. He applied his undoubtedly comprehensive expertise in the steel industry, which market is of great significance for SKW Metallurgie. Furthermore, he supported the Group with the first-time compilation of annual financial accounts as a joint-stock corporation. We wish him all the very best for his future, both in professional and private terms,“ says Markus Zöllner, Chairperson of the Supervisory Board of SKW Stahl-Metallurgie Holding AG.