Success Story of Stinnes Logistics Group Continues in First Half of 2001

    MULHEIM, Germany, Aug. 14 Germany-based Stinnes AG, one of
the world's foremost logistics services providers, achieved high growth rates
in the first half of 2001 in both sales and earnings.  While logistics service
providers elsewhere are issuing profit warnings and the economic slowdown is
now also affecting European economies, the Stinnes business model once again
demonstrated its significant resilience.

    For the Group, second-quarter sales from continuing operations increased
by 20 percent to EURO 3.2 billion on a year-on-year basis.  This was primarily
due to the strong performance of our core businesses Transportation and
Chemicals.  EBIT increased by 23 percent to EURO 89 million.

    Looking at the company's financial performance in the first half of this
year, sales went up by 22 percent to EURO 6.4 billion, while EBIT increased by
23.5 percent to roughly EURO 168 million.

    The Stinnes success story, which began with the IPO in June 1999, thus
continued in the first half of 2001.  Stinnes expects that this positive
development will continue in the remaining two quarters of 2001 and that its
operating profit will surpass the results of the previous year.

    The Stinnes Group's Transportation and Chemicals divisions contributed to
this excellent earnings development with high double-digit growth rates.
While the Materials Division held its ground in a weak market environment, its
performance indicators dropped due to sluggish demand for steel products.

    Stinnes CEO Wulf H. Bernotat made the following comment on the first half
of 2001: "Our very strong international focus makes us less vulnerable to
economic slowdowns in specific regions of the world.  In addition, we are less
affected by periods of weakness in specific industries because our Group is
diversified across various industries.  Furthermore, higher cost pressure
prompts many companies during weaker economic periods to outsource their
logistics activities to companies such as Stinnes."

    The key indicators of the Stinnes Group in the first half of 2001 --
adjusted for the building materials that were divested last year -- were as
follows:

    Jan. 1 -- June 30       2001     2000     +/- in %    II Q 2001 II Q 2000
    in millions of euros   Actual   Actual  vs. previous    Actual    Actual
                                                year

    External sales        6,436.3  6,272.8      +2.6        3,239.1   3,281.2
    EBIT                    167.6    142.9     +17.3           89.3      91.8
    Consolid. internal
     operating profit       128.2    104.4     +22.8           71.5      73.0


    The performance of the three divisions of the Stinnes Group was as
follows:

     * The sales of the Transportation Division (Schenker) increased by
       8 percent to EURO 3.2 billion in the first six months of this year.
       During the same period, the internal operating profit rose by
       39 percent to EURO 72 million.  Against the background of a general
       economic slowdown in Western Europe and a positive economic situation
       in Eastern Europe, the European Land Transportation Unit benefited
       from strong demand for both domestic and cross-border transportation
       services in major European countries.  Although the world economy
       continued to slow down in the second quarter, the Air and Sea Freight
       Unit also improved its financial performance considerably in the first
       six months of 2001.  In the second quarter alone, Schenker acquired
       new business worth EURO 100 million from key accounts like BMW, Bosch,
       Hewlett Packard, Nike and Philips.

     * In the first half of 2001, the Chemicals Division (Brenntag) surpassed
       all performance indicators of the previous year.  This was largely due
       to HCI, which was acquired in December 2000 and whose integration is
       expected to be completed by the end of the year.  HCI holds strong
       market positions in the Americas, in Scandinavia and in Eastern
       Europe.  Sales increased by 69 percent to over EURO 2.4 billion, and
       the internal operating profit rose by 20 percent to EURO 55 million.
       Brenntag's subsidiaries in other European countries outside Germany
       also contributed to the growth in sales and earnings.

     * The Materials Division (Stinnes Interfer) stood its ground in a very
       difficult market environment in the first half of 2001.  Sales
       decreased by 8 percent to EURO 805 million, and the internal operating
       profit fell by 26 percent to EURO 15 million.  This was due primarily
       to declining demand in the steel sector leading to lower prices for
       certain steel products and secondly to weaker metallurgical activities
       in North America.