ThyssenKrupp Stahl AG is to increase its prices for flat products by 30 euros to 40 euros/t depending on product for deliveries from April 1, 2004. This price move is necessary to counter substantial increases on the cost side. Scrap and energy costs have increased sharply and the "water cent" planned by the state government of North Rhine-Westphalia will add a new cost element. Purchase prices for ore and blast furnace coke increased significantly in 2003. This was accompanied by a massive rise in sea freight rates, which is also having a negative impact on distribution costs for finished products. These effects have been only partly cushioned by the shift in the euro/dollar exchange rate. In addition, personnel costs have increased since the last collective bargaining round.

"Our arguments will be understood on the market, especially as the price increase will offset only a part of the cost burden and the first supply bottlenecks are already occurring on the raw materials side," says ThyssenKrupp Stahl executive Dr. Jost A. Massenberg.

Contact:

ThyssenKrupp Steel
Erwin Schneider
Tel.: +49 203 / 52 - 2 56 90
Fax: +49 203 / 52 - 2 57 07
e-mail: erwin.schneider@tks.thyssenkrupp.com

Dietmar Stamm
Tel.: +49 203 / 52 - 2 62 67
Fax: +49 203 / 52 - 2 57 07
e-mail: dietmar.stamm@tks.thyssenkrupp.com