ThyssenKrupp has established an endowed professorship in economics at Tongji University in Shanghai. The agreement is to be signed in China on November 23. By way of funding, ThyssenKrupp is making available DM70,000 each year for five years. It is the Group`s second endowed professorship. In 1998 a professorship in mechanical engineering was established at Tongji University in Shanghai. The purpose of the professorships is among other things to train highly skilled employees for Chinese and German industry and to secure a new generation of academics, to carry out research projects and to further develop the traditional links between Tongji University and Germany.

The award underlines ThyssenKrupp`s special relationship with Shanghai. Only a handful of companies have been active in China as long as ThyssenKrupp. The first representative office was opened in Shanghai in 1870. Against the background of this long tradition the Group opened the Shanghai Krupp Stainless plant in November. The Transrapid, a revolutionary new transport system, is scheduled to go into service in 2003. Krupp Presta Huizhong Automotive Shanghai produces steering columns. Thyssen Elevator Co. is engaged in the production and servicing of elevators and escalators.

The award underlines ThyssenKrupp`s special relationship with Shanghai. Only a handful of companies have been active in China as long as ThyssenKrupp. The first representative office was opened in Shanghai in 1870. Against the background of this long tradition the Group opened the Shanghai Krupp Stainless plant in November. The Transrapid, a revolutionary new transport system, is scheduled to go into service in 2003. Krupp Presta Huizhong Automotive Shanghai produces steering columns, Shanghai Dover Elevator Manufacturing is engaged in the production and servicing of escalators.

Graduates from the Sino-German University College are well qualified in their field and have a command of spoken and written Chinese and German. Currently 15 endowed professorships are funded by German industry. The basic funding for the college comes from the German foreign office via the German Academic Exchange Service. In addition to financial support from industry, Tongji University also provides its own contributions.

Contact:
Klaus Pepperhoff
ThyssenKrupp AG
Zentralbereich Kommunikation / Presse
August-Thyssen-Straße 1
40211 Düsseldorf
Phone: + 49 211 824-36007
Fax: + 49 211 824-36041
E-Mail: presse@tk.thyssenkrupp.com