euro adhoc: Techem AG / Board of Directors (Appointments and Changes) / Walter Schmidt to leave Techem AG (E)

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

Eschborn, 17 July 2003, Walter Schmidt (35), the Techem AG board member responsible for finance, will leave the group at the end of July 2003. Mr Schmidt informed the Techem AG Supervisory Board that he would not be seeking an extension of his contract, which is due to expire on 31 October 2004. There was complete agreement between the Supervisory Board and Mr Schmidt in deciding to terminate the employment relationship with effect from 31 July 2003. The Supervisory Board and the senior management of the company regret the departure of Mr Schmidt and express their thanks for cooperation that was successful and marked by trust at all times.

To ensure continuity in the finance field, especially in the light of the on-going cost-cutting program, Peter Wunderlich (43), head of group controlling, will act as interim head of finance.

The Techem AG Supervisory Board will decide on the appointment of a successor to replace Walter Schmidt as the board member responsible for finance at its meeting on 12 August 2003.

Further inquiry note:
Anton Steiner-Holzmann
Head of Investor Relations
Tel.: +49 (0)6196 522 2838
Tel: +49(0)6196 522 0
FAX: +49(0)6196 522 2957

Emittent: Techem AG Hauptstrasse 89 DE-65760 Eschborn Tel: +49(0)6196 522 0 FAX: +49(0)6196 522 2957 Email: WWW: ISIN: DE0005471601 WKN: 547160

end of announcement euro adhoc

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Branche: Energy
Sprache: Englisch