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Capital market-relevant press releases, 2003-07-04, 02:00 AM

Shanghai Transrapid project progressing on schedule

Work on the Transrapid order in Shanghai is progressing on schedule. The first 5-section vehicle started trials at the beginning of April and has already reached the envisaged speed of 430 km/h. The second parallel track was released for start-up operation in May. Tests involving two vehicles passing in opposite directions have also commenced. During trial operations, a problem was identified with the cable winding on the long-stator motor. In some cases, a combination of several unfavorable factors resulted in damage to the cable sheathing. This in no way detracted from the safety and functionality of the propulsion unit or the system as a whole.

Nonetheless, in close consultation with the Chinese customer we have decided to replace the cables. The timetable will not be affected by these measures, and commercial operation is still planned to commence in early 2004. The customer SMTDC welcomes ThyssenKrupp`s decision and is providing active assistance to rectify this problem as quickly as possible.

ThyssenKrupp Technologies
Alfred Wewers
Corporate Central Bureau / Public Relations
Tel.: + 49 201/106-3264
Fax: + 49 201/106-3265

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