Standard & Poor`s (S&P) upgrades ThyssenKrupp`s rating one notch to "BBB-", representing a return to investment grade at S&P; Fitch upgrades ThyssenKrupp from "BBB" to "BBB+"

CEO Prof. Dr. Schulz: "Efforts have been recognized"

Standard & Poor`s today upgraded ThyssenKrupp`s issuer rating by one notch from "BB+" to "BBB-". The issue rating for outstanding ThyssenKrupp bonds was also raised to "BBB-". ThyssenKrupp has thus been returned to investment grade status by S&P. On December 15, 2004, S&P placed ThyssenKrupp on "credit watch positive" in connection with the signing of the contract to sell the Residential Real Estate business. The present rating upgrade is thus the result of today`s full consummation of the sale of the Residential Real Estate business with a transaction volume of 2.1 billion euros and represents the conclusion of S&P`s review process. Fitch also today concluded the review process initiated on December 15, 2004 by upgrading ThyssenKrupp`s issuer rating by one notch from "BBB" to "BBB+".

ThyssenKrupp Chief Executive Prof. Dr. Ekkehard Schulz: "We very much welcome the fact that the rating agencies have appropriately recognized the efforts we have undertaken in the past few years to improve our profitability and further reduce our net financial payables."

ThyssenKrupp`s rating situation is now as follows:

Standard & Poor`s: BBB-, outlook stable

Moody`s: Baa2, outlook stable

Fitch: BBB+, outlook stable

In February 2003, Standard & Poor`s downgraded ThyssenKrupp to non-investment grade status due to a change in the way it assesses pension obligations. ThyssenKrupp has significantly reduced its debt in recent years. Net financial payables decreased from 8.7 billion euros at March 31, 2001 to 2.8 billion euros at September 30, 2004.

ThyssenKrupp is constantly optimizing its portfolio and thus concentrating on its core businesses with the aim of further enhancing the earning power and value of the Company. Since the merger of Thyssen and Krupp in 1999, companies with sales of 5.4 billion euros have been sold and companies with sales totaling 7.0 billion euros acquired.

Contact:

Dr. Jürgen Claassen
Corporate Communications, Strategy, and Executive Affairs
Telephone +49 211 824-36001
Fax +49 211 824-36005
E-mail: press@thyssenkrupp.com
www.thyssenkrupp.com