Report of the Executive Board on the Group consolidated financial statements and Group management report

The Executive Board of ThyssenKrupp AG is responsible for ensuring that the Group annual consolidated financial statements give a true and fair view of the Group's net assets, financial position and results of operations, and that the management report on the Group provides a suitable view of the Group's performance and current business situation. The Group annual consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and, wherever necessary, objective estimates have been made by management. The management report on the Group contains an analysis of the assets, financial and earnings situation of the Group together with further disclosures required by the regulations of the German Commercial Code.

To ensure the reliability of the information used in preparing the Group annual consolidated financial statements, including of the management report on the Group, and internal reporting, an effective internal "steering" and control system exists. It involves group-wide uniform guidelines for accounting and risk management in accordance with the German Act regarding the Control and Transparency of Company Divisions (KonTraG) as well as an integrated controlling concept as part of the value-oriented management approach and audits by the Group's internal audit department. This system enables the Executive Board to recognize major risks at an early stage and to initiate counter-measures.

Pursuant to the resolution of the Annual Stockholders' Meeting, KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft, Wirtschaftsprüfungsgesellschaft, Berlin has been appointed by the Supervisory Board after being elected by the stockholders as independent annual consolidated financial statements auditors for the fiscal year 2006/2007 of ThyssenKrupp AG. They have audited the Group annual consolidated financial statements prepared in accordance with IFRS and have issued the following auditors' report.

The Group annual consolidated financial statements, the management report on the Group, auditors' report and risk management system have been discussed in depth with the auditors in both the Audit Committee of the Supervisory Board, and in the annual consolidated financial statement meeting of the entire Supervisory Board.

Dr.-Ing. Ekkehard D. Schulz	Dr. Ulrich Middelmann