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Company News, 2006-01-16, 09:02 AM

ThyssenKrupp Announces Mailing of Notice of Variation and Extension Increasing its Offer for Dofasco to C$68.00 per Share and Extending to January 26, 2006

ThyssenKrupp AG announced today that the Notice of Variation and Extension increasing ThyssenKrupp's cash offer for Dofasco to C$68.00 per share and extending the expiry date to January 26, 2006, is being mailed today to Dofasco shareholders.

ThyssenKrupp previously announced on Saturday, January 14, 2006, its increased offer price to C$68.00 cash per share and the new expiry date. In consideration for the increased offer price Dofasco has amended the existing Support Agreement with ThyssenKrupp and increased the break fee payable from C$100 million to C$215 million. Under the terms of the Support Agreement the break fee becomes payable to ThyssenKrupp by Dofasco in the event the offer is not completed under certain circumstances.

Shareholders may obtain a copy of the notice of variation and extension (when available), take-over bid circular, directors' circular and other materials at the SEDAR web site at, from Georgeson Shareholder Communications Canada Inc. at 1-866-439-0616 or from MacKenzie Partners, Inc. at 1-800-322-2885.

<u>About ThyssenKrupp:</u>

Focusing on the key areas of Steel, Capital Goods and Services, the capabilities of ThyssenKrupp are organized in six segments - Steel, Stainless, Automotive, Technologies, Elevator and Services. With sales of EUR42.1 billion in 2004/2005 and nearly 184,000 employees, the Group occupies mainly top-three positions with its activities worldwide.

ThyssenKrupp Steel concentrates on flat-rolled steel with high value added, tailored to customers' requirements. With sales of around EUR9.7 billion in fiscal year 2004/2005, approximately 31,500 employees and customers in more than 80 countries, the segment is one of the world's foremost steel producers. In carbon steel flat products it is number 2 in Europe. Products from ThyssenKrupp Steel are used in a wide range of everyday applications, such as car bodies, facades and domestic appliances.

<u>About ThyssenKrupp in Canada:</u>

ThyssenKrupp has a track record of successful operations in Canada. The Group has been operating in the country since 1914. Today, ThyssenKrupp owns directly or indirectly a total of 16 group companies as well as two minority interests and employs more than 4,200 people in the provinces of Alberta, British Columbia, New Brunswick, Newfoundland, Ontario and Québec. Sales amounted to 1 billion euros in fiscal 2004/2005. The activities in Canada focus on the supply of body and chassis components to the North American auto industry, the production and service of elevators and escalators as well as the sale of carbon and stainless steel.

Forward Looking Statements

This press release contains "forward-looking statements" that are subject to a number of risks and uncertainties, many of which are beyond ThyssenKrupp's control, that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. All forward-looking statements speak only as of the date of this press release. ThyssenKrupp does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. There can be no assurance that any transaction between ThyssenKrupp and Dofasco will occur, or will occur on the timetable contemplated hereby.

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