Salzgitter AG

euro adhoc: Salzgitter AG
Mergers - Acquisitions - Takeovers / Salzgitter AG and Vallourec SA intend to concentrate their seamless tubes activities at Vallourec

---------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

20.01.2005

Salzgitter AG and Vallourec SA, Paris, intend to concentrate their seamless tubes activities at Vallourec. In pursuit of this aim, the 45 % stake in V&M Tubes SA (V&M) held by wholly-owned Salzgitter subsidiary Mannesmannröhren-Werke GmbH (MRW) is to be sold to French joint venture partner Vallourec. The result will be to increase Vallourecs interest in V&M, the world market leader in the seamless steel tubes sector, to 100 %. The companies concerned EUR Salzgitter AG, MRW, Vallourec and V&M EUR have signed a non-binding Memorandum of Understanding which covers the essential key points of the transaction. A purchase price of EUR 545 million has been agreed for the 45 % stake in V&M, to be paid in cash to MRW upon transfer of the shares no later than July 31, 2005. The contract is expected to be concluded towards the end of the first quarter of 2005. The deal is subject to requisite approval by among others the Supervisory Boards of Salzgitter AG and MRW as well as by the relevant competition authorities. For further details please refer to the press releases issued by Salzgitter AG and Vallourec SA.

end of announcement                                euro adhoc 21.01.2005 06:30:00
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Further inquiry note: Bernhard Kleinermann Tel.: +49 (0) 5341-21-3783 E-Mail: kleinermann.b@salzgitter-ag.de Tel.:49 (0) 5341-21-01 FAX: +49 (0) 5341-21-2727 Email: gersdorff.b@salzgitter-ag.de

Branche: Iron & Steel
ISIN:      DE0006202005
WKN:        620200
Index:    MDAX, Prime Standard, CDAX, HDAX
Börsen:  Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Frankfurter Wertpapierbörse / official dealing
              Niedersächsische Börse zu Hannover / official dealing



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