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Key data of ThyssenKrupp stock
1) proposal to Annual General Meeting 2) weighted average of outstanding shares
			2001/2002		2002/2003		2003/2004
Capital stock	million €		1,317		1,317		1,317
Number of shares (total)	million shares		514.5		514.5		514.5
Stock exchange value end September	million €		5,762		5,927		8,072
Closing price end September	€		11.20		11.52		15.69
High	€		18.50		13.62		17.67
Low	€		10.87		7.01		11.55
Dividend	€		0.40		0.50		0.60 1)
Dividend total	million €		206		249		299 1)
Dividend yield	%		3.6		4.3		3.8
EPS	€		0.42		1.09		1.81
EPS from continuing operations	€		1.12		1.12		1.77
Number of shares 2)	million shares		514.5		507.7		498.0
Trading volume (daily average)	million shares		2.0		2.8		2.5

Encouraging share price performance

In the year under review ThyssenKrupp's stock benefited from both the general brightening of the economic climate and the major improvement on the world steel markets. These parameters and the systematic implementation of our strategy together with the improvement in our operating performance were reflected in a significant increase in the ThyssenKrupp share price. ThyssenKrupp's stock easily outperformed the DAX and DJ STOXX reference indices. At September 30, 2004 the share price closed at €15.69, 36.2% higher than a year earlier. In the same period the DAX gained 19.5% and the DJ STOXX17.8%. Further details of the share price performance are shown in the charts in this section.

Highs and lows of the ThyssenKrupp stock

  

in €

The market capitalization improved against the previous year by more than €2 billion to around €8 billion.

Market capitalization of ThyssenKrupp AG

  

in million €

Performance of ThyssenKrupp stock in comparison

  

indexed, Sept. 30, 2003 to Sept. 30, 2004, in %

Stock market listing in Germany and the United Kingdom

Since March 25, 1999 ThyssenKrupp stock has been listed on the following stock exchanges:

ThyssenKrupp stock master data
			Securities identification number
Stock exchange
Germany	Frankfurt (Prime Standard), Düsseldorf		DE 000 750 0001
United Kingdom	London Stock Exchange		5636927
Symbols
Stock exchange	Frankfurt, Düsseldorf		TKA
	London		THK
Reuters	Frankfurt Stock Exchange		TKAG.F
	Xetra trading		TKAG.DE
Bloomberg			TKA GR

In fiscal year 2003/2004 some 652 million ThyssenKrupp shares were traded on the German stock exchanges including the Xetra trading system. Against the previous year the trading volume decreased slightly. The average daily volume was 2.5 million shares. Trading in ThyssenKrupp stock accounts for over 1.2% of the total DAX trading volume.

The inclusion of ThyssenKrupp stock in major indices significantly raises its profile with institutional investors. In addition to the German DAX index of leading shares, ThyssenKrupp stock is also included in the corresponding sector indices. At European level the stock is included in the broad DJ STOXX and DJ EURO STOXX indices as well as the associated sector indices. Furthermore, our stock is included in the calculation of the DJ Germany Titans, the FT EuroTop 300 and various MSCI indices.

Earnings per share €1.81

Earnings per share (EPS) is calculated by dividing the Group's net income by the weighted average of outstanding shares. In fiscal year 2003/2004, taking into account the volume of treasury stock, the number of shares outstanding averaged 498.0 million. On this basis, EPS was €1.81.

Dividend proposal of €0.60 per share

A proposal will be submitted to the Annual General Meeting on January 21, 2005 to approve payment of a dividend in the amount of €0.60 per share. Based on the stock price of €15.69 on September 30, 2004 the dividend yield is 3.8%. The payout ratio is 99% of the net income of ThyssenKrupp AG and 33% of consolidated net income.

ThyssenKrupp AG dividend payment

  

in €

Capital stock unchanged

The capital stock remains unchanged at €1,317,091,952.64 and consists of 514,489,044 no-par-value bearer shares. The shares are evidenced in global certificates. The right of shareholders to certification of their shares is excluded under the Company's Articles of Association. Under Art. 19 of the Articles of Association of ThyssenKrupp AG, each share grants one vote.

Great interest in 2004 employee share program

Value-oriented thinking must not be the preserve of management because ultimately all employees contribute to the success of the Company and enhance its value. Employees should therefore also have the opportunity to participate in this success. That is the purpose of employee shares.

The Group's second employee share program met with a positive response: with almost 47,000 entitled employees in Germany subscribing, the participation rate was 51% compared with 48% for the first program in 2001.

The share issue was based on the 50/50 model pursuant to Art. 19a of the Income Tax Law: employees received a company allowance free of tax and social security contributions in the same amount as their own investment. They could choose between a large share package worth up to €270 (employee contribution up to €135) and a small package worth up to €150 (employee contribution up to €75).

The share price which determined the number of shares per package was established at €15.60 on March 01, 2004. Accordingly, the large package comprised 17 shares (worth €265.20) and the small package 9 shares (worth €140.40). A total of 790,498 shares were transferred to the employees' securities accounts. These shares were taken from treasury stock.

Stable stockholder structure

Following the surveys in 2003 and 2001, ThyssenKrupp conducted a further analysis of its stockholder structure at the end of the fiscal year. These surveys are conducted to allow us to address investors more directly and intensify our dialogue with them.

As in the year before, private investors held 20% and institutional investors and investors with major holdings held 80% of the Company's capital stock. Around 80% of stockholders are resident in Germany; the remaining 20% of the capital stock is held by foreign investors.

There were only minor regional shifts. Compared with the previous year, the share of German institutional investors decreased slightly. The share of investors on the European continent and in North America remained virtually unchanged, while the share of investors in the United Kingdom and Asia increased slightly in each case.

Accordingly, we will continue to make intensive efforts to serve investors from the regions of importance to ThyssenKrupp - North America (5.4% of the capital stock), United Kingdom (4%), Switzerland (2%), Sweden (1.5%) and France (1%). At the same time we will increase and strengthen contacts with investors in all regions of the world.

The largest stockholder is the Alfried Krupp von Bohlen und Halbach Foundation, Essen, which notified us that it holds 20% of the voting rights in ThyssenKrupp AG. The Fritz Thyssen Foundation holds 4.96% of the voting rights.

ThyssenKrupp AG also holds treasury shares in the amount of 3.14% of the capital stock (16,130,745 shares). These shares were acquired under Art. 71 par. 1 No. 1 of the Stock Corporation Act (AktG) in fiscal year 2002/2003. ThyssenKrupp AG has no rights in respect of these shares.

The free float, which is generally taken into account in the weighting of ThyssenKrupp stock in the indices, is 80% of the capital stock.

Investor relations further improved

ThyssenKrupp won recognition from several quarters in the reporting period for the high standard of its communications with all capital market participants. In the blue chip category of the "Beste Investor Relations Deutschland" competition, ThyssenKrupp climbed from third place a year earlier to second place in the reporting period. We have also steadily risen in the rankings of Capital magazine's investor relations award, this year winning third prize in a very close run competition. Last but not least, the international magazine "Institutional Investor" awarded ThyssenKrupp's investor relations team first prize in the "Most improved IR" category.

These awards are both an acknowledgement of our dialogue with investors and an incentive to further optimize our communications instruments and enhance our investor relations work.

In fiscal year 2003/2004 we further increased our presence in the key financial centers. ThyssenKrupp presented itself to institutional investors on more than 40 roadshow days. The aim was both to intensify contacts of many years' standing and to establish new ones. In the reporting period we visited investors in Austria and Italy for the first time.

On the basis of this year's stockholder survey we will actively target new groups of investors for ThyssenKrupp in the future. To this end we will increasingly visit investor conferences. In fiscal year 2003/2004 we took part in 15 conferences in Germany and abroad and presented ThyssenKrupp to both institutional and private investors.

A key instrument in our communications with investors - especially private investors - is the ThyssenKrupp website, which we will continue to expand. All presentations and publications are already available online and for downloading. In addition, analysts' and investors' meetings, conference calls, the Annual Press Conference and Annual General Meeting are transmitted live on the Investor Relations section of the website. Our Investor Relations team can also be contacted in person whenever they are needed.