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Company News, 2003-04-15, 02:00 AM

ThyssenKrupp Aufzüge strengthens position in Mecklenburg-Western Pomerania

Acquisition of Hanseatische Aufzugsbau GmbH in Rostock

ThyssenKrupp Aufzüge GmbH - the German subsidiary of ThyssenKrupp Elevator AG, Düsseldorf - has acquired a 100% interest in Rostock-based Hanseatische Aufzugsbau GmbH with retroactive effect at January 1, 2003.

Founded in 1993, Hanseatische Aufzugsbau GmbH has around 30 employees operating mainly in Mecklenburg-Western Pomerania and the greater Rostock area and achieves sales of some 4 million euros in the elevator installation, modernization and service businesses.

Hanseatische Aufzugsbau GmbH will continue to operate as an independent company with its current workforce and a management board from within the Group. In ThyssenKrupp Aufzüge it will enjoy the support of a strong partner. The present owners wish to withdraw from the business for personal reasons but will continue to provide advice and assistance to the management board, customers and the new partner in the immediate future.

ThyssenKrupp Aufzüge GmbH intends to use the acquisition to further strengthen its market position in Mecklenburg-Western Pomerania.

<small>ThyssenKrupp Aufzüge GmbH is a subsidiary of ThyssenKrupp Elevator AG. It has approximately 4,200 employees at over 20 locations in Germany and achieves sales of some 480 million euros. ThyssenKrupp Elevator is the third largest elevator company in the world, with activities in over 60 countries at more than 800 locations. ThyssenKrupp Elevator AG has some 29,000 employees and achieved sales of approx. 3.5 billion euros in fiscal 2001/2002 (year ended Sept. 30, 2002). The company`s products include passenger and freight elevators, escalators and moving walks, stair and platform lifts, and passenger boarding bridges plus top quality service for the entire range.</small>

ThyssenKrupp Elevator AG
Dr. Rembert Horstmann
Communication &amp; Marketing
Phone + 49 211 824-38414
Fax +49 211 824-36839

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