In a final meeting today between representatives of Transrapid International, the leader of the consortium also comprising ThyssenKrupp and Siemens, the Chinese Prime Minister, Mr. Zhu Rongji and the Mayor of Shanghai Mr. Xu Kuangdi, it was announced that the consortium had received the contract for the construction of the first commercial application of the Transrapid in Shanghai.

The representatives of the consortium at this meeting were Dr. Heinrich von Pierer, President and CEO of Siemens AG, Prof. Dr. Heinrich Igelbüscher, Member of the Executive Board of ThyssenKrupp Industries AG and Mr. Hans-Dieter Bott, Vice - President of Siemens Transportation Systems.

The client on the Chinese side is also a consortium, administered by the government of the city of Shanghai.

The Transrapid route, which should be operational by the end of 2003 will be an approx. 30 km route linking Pudong international airport and the city center of Shanghai in a time of less than 10 minutes.

The project also has demonstration character for the Chinese side, as the experiences gained during this application should lead to a decision in 2003 about an extension of the route. The extensions under consideration include an approx. 200 km route from Shanghai to Hangzhou as well as the often discussed 1300 km comprehensive connection between Shanghai and Peking.

Thyssen Transrapid System GmbH, Kassel, is part of ThyssenKrupp AG's new Technologies segment. It is responsible for manufacturing and integrating core Transrapid components at its Kassel location and for the relevant engineering, which is carried out in Munich in a joint venture with the Automotive segment, ThyssenKrupp Automotive Mechatronics GmbH. Via Thyssen Transrapid System GmbH, ThyssenKrupp - along with Siemens - has an interest in Transrapid International GmbH & Co. KG, Berlin, which markets the Transrapid system worldwide.

Transrapid International
Press/Public Relations
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Peter Wiegelmann
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