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More Streamlined Management Structure at Mannesmann Demag Krauss-Maffei

20 December 1999

More Streamlined Management Structure at Mannesmann Demag Krauss-Maffei

    DUESSELDORF, Germany, Dec. 20 -- The separation of
Mannesmann's Engineering and Automotive activities from the Group's
Telecommunications activities and the planned IPO for Mannesmann Engineering
and Automotive has resulted in changes in upper management at Mannesmann Demag
Krauss-Maffei (MDKM).
    With effect from January 1, 2000, Mannesmann Plastics Machinery (MPM), the
parent company for all the Mannesmann Group's plastics machinery businesses,
will be merged with Mannesmann Demag Krauss-Maffei AG.
    As of January 1, 2000, Dipl.-Ing. Wolfgang Vogl, the present Chief
Executive Officer of MPM, will become chairman of the Executive Board of MDKM.
He replaces Dr.-Ing. Joerg Starke, the current Chief Executive Officer of
MDKM, who is leaving the company by mutual agreement on December 31, 1999.
    The present Chief Financial Officer of MPM, Dipl.-Kfm. Gerhard Becker has
been appointed deputy member of the Executive Board of MDKM.
    In the future, the Mannesmann Plastics Machinery group will be managed as
a division of MDKM.  The multi-brand policy of the MPM companies will be
continued and the independence of the different companies will be strictly
maintained.  At the same time, synergies across the companies will be actively
exploited in our drive to expand our global technology leadership for the
benefit of our customers.