Klöckner & Co AG



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Duisburg, June [21], 2006 - Additional details of Klöckner & Co’s planned IPO were agreed today by Klöckner & Co Aktiengesellschaft, the selling shareholder, Multi Metal Investment S.à r.l., and the Joint Bookrunners.

The book-building price range will be between 15,00 EUR and 18,00 EUR per offered share.

"We have held a number of in-depth discussions with investors since June 14, 2006. We are pleased with the great interest that has been demonstrated for our company and our business model in these meetings", said CEO Dr. Thomas Ludwig.

The offering will consist of up to 6,500,000 ordinary registered shares with no par value from a capital increase for a cash contribution resolved by the extraordinary shareholders’ meeting held on June 21, 2006, up to 10,000,000 ordinary registered shares with no par value from the holdings of the selling shareholder, and up to 2,000,000 ordinary registered shares with no par value from the holdings of the selling shareholder in connection with a potential over-allotment.

Interested investors may submit offers to purchase shares between June 22, 2006 and, tentatively, June 27, 2006. The offer period is expected to end on June 27, 2006 at noon (CEST) for retail investors (natural persons) and at 2 p.m. (CEST) for institutional investors. The final offer price is expected to be set on June 27, 2006, and trading is expected to begin on June 28, 2006.

After determination of the number of offered shares and assuming the placement of all shares (and if the Greenshoe option is fully exercised), Klöckner & Co will have a free float of approximately 40 percent. Together with management, the private equity investor Lindsay Goldberg & Bessemer (LGB), will continue to hold approximately 60 percent of the company. The selling shareholder and management have agreed to hold their remaining shares for a period of twelve months following delivery of the shares. The company has agreed not to effect any capital measures during the same period of time

The company intends to use its net proceeds of approximately EUR 98,8 million (assuming the placement of the maximum number of new shares at the mid-point of the price range and costs of EUR 8.5 Mio.) to further improve the capital structure of the Klöckner & Co Group and to repay third-party debt, thus generating additional headroom for growth. Specifically, the company is considering a partial redemption of the notes issued by Klöckner Investment S.C.A.

Klöckner & Co’s sales under IFRS were up 9.6 percent to EUR 1,322.9 million in the first quarter of 2006, compared with the same quarter of the previous year. The adjusted earnings before interest, tax, depreciation and amortization (adjusted EBITDA) improved by 47.7 percent to EUR 79.3 million in the first quarter of 2006, compared with the first quarter of 2005. For the financial year 2005, the Klöckner & Co group reported sales of EUR 4,963 million under IFRS. Net income amounted to EUR 1 32.3 million.

Further information regarding the terms and conditions of the offer may be found in the German-language prospectus as approved on June 12, 2006 and published on June 13, 2006, and additional details regarding the planned initial public offering are provided in supplement No. 1, which will be published on the Klöckner & Co Aktiengesellschaft website (www.kloeckner.de) immediately following approval by the German Federal Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). The details of the offering given above remain subject to the approval of supplement No. 1 to the German-language prospectus by the German Federal Financial Services Supervisory Authority.

In Germany, the German-language prospectus relating to the public offering is available at www.kloeckner.de. Following approval by the German Federal Financial Services Supervisory Authority, supplement No. 1 will be published on the company website. Printed copies of the prospectus and supplement No. 1, following its approval, are or will be available free of charge from the company and the Joint Bookrunners.

About Klöckner & Co Klöckner & Co is the largest producer-independent steel and metal distributor in the European and North American markets combined. The core business is the warehouse distribution of steel and non-ferrous metals. Around 200,000 active customers are served from around 240 distribution and service centers in 14 countries across Europe and North America. Klöckner & Co was founded by Peter Klöckner a century ago. In the financial year 2005, the company reported sales of around EUR5 billion, with a staff of around 10,000.

Contacts: Peter Ringsleben and Claudia Uhlendorf, Corporate Communications Klöckner & Co AG Am Silberpalais 1 47057 Duisburg

Peter Ringsleben Phone: +49 203 307 2800 Fax: +49 203 307 5060 E-mail: peter.ringsleben@kloeckner.de

Claudia Uhlendorf Phone: +49 203 307 2289 Fax: +49 203 307 5103 E-mail: claudia.uhlendorf@kloeckner.de

This publication is not for direct or indirect distribution in or to the United States (including its territories and outlying areas any State of the United States and the District of Columbia). This publication does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. The shares of Klöckner & Co AG referred to herein (the "Shares") may not be offered or sold in the United States absent registration or an expemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares have not been, and will not be, registered under the Securities Act and will not be publicly offered anywhere outside Germany. The offer in Germany will be made exclusively by means of and on the basis of a prospectus that has been published and the supplement No. 1 to the prospectus, which will be published immediately following approval by the German Federal Financial Service Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht).That prospectus has been and the supplement No. 1 will be made available on the company website following its approval by the German Federal Financial Service Supervisory Authority. The supplement No. 1 to the prospectus is available free of charge from the company and the Joint Bookrunners following its approval by the German Federal Financial Service Supervisory Authority.

This press release does not constitute an offer of securities to the public in the United Kingdom. This press release is directed only at (i) persons who have professional experience in matters relating to investments and who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order or to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons") or in circumstances in which section 21 of the FSMA does not apply to the Company. Any person who is not a relevant person must not act or rely on this communication or any of its contents.  Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

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ots Originaltext: Klöckner & Co AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Claudia Uhlendorf
Public Relations
Telefon: +49(0)203-307-2289
E-Mail: claudia.uhlendorf@kloeckner.de

Branche: Metal Goods & Engineering
ISIN:      DE000KCO1000
WKN:        KCO100
Börsen:  Frankfurter Wertpapierbörse / admission applied: official

Weitere Meldungen: Klöckner & Co AG

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