Encouraging performance in first quarter of 2000/2001 first signs of weakening in evidence: earning nonetheless expected to match prior year

In the first quarter of fiscal year 2000/2001 (October to December 2000) the Groups order intake rose 6% to 9.5 billion euros and sales climbed 13% to 9.2 billion euros. Pre-tax income was well up on the prior-year quarter, increasing by some 0.2 billion euros to around 0.3 billion euros.

As regards the economic outlook, the news is increasingly negative, both for individual regions and for specific sectors. This has also affected ThyssenKrupp; after the good start in the 1st quarter, initial signs of weakening are now in evidence. Against this background we no longer expect to increase our earnings this fiscal year. Despite the deteriorating economy, however, we are aiming to match last years results.

Supervisory Board agrees on personnel changes at October 1, 2001

The Supervisory Board this morning unanimously agreed the following:

1. Mr. von Schenck will step down from the Supervisory Board of ThyssenKrupp AG at the end of fiscal year 2000/2001 to enable the proposed register-court appointment of Dr. Cromme with effect from October 1, 2001.

2. On the same date Dr. Cromme will be elected Chairman of the Supervisory Board, after Dr. Kriwet has resigned as Chairman effective September 30, 2001. Dr. Kriwet will remain a member of the Supervisory Board of ThyssenKrupp AG.

3. With effect from October 1, 2001 Dr. Baumann and Dr. Cromme will represent the stockholder side on the Executive Committee (Präsidium) and on the Personnel Committee.

4. The Supervisory Board will discuss and decide on the optimum composition and distribution of responsibilities of the Executive Board as soon as possible.

For further information, please contact Dr. Jürgen Claassen (Communication, tel. +49 211 824-36001) and Dr. Martin Grimm (Investor Relations, tel. +49 211 824-36464).