Earnings before taxes rise to € 161 million / Cumerio takeover successfully completed / „Synergies significantly more than original forecasts“ / Optimistic outlook

Dr Stefan Boel appointed as new member of the Board / New assignments of responsibility after successful takeover of Cumerio

Complete takeover by Norddeutsche Affinerie / First integration successes

Squeeze-out of minority shareholders by mid of April / Integration teams have taken up work

Offer period prolonged / acceptance up to now of 91.09 percent / first measures being implemented to integrate the two companies

Hamburg, February 18, 2008 – Norddeutsche Affinerie Aktiengesellschaft (NA) has achieved the minimum acceptance threshold of 80% as well as the threshold of 90% upon expiry of the acceptance period fixed for the takeover offer regarding the Belgian Cumerio N.V./S.A. (Cumerio).

Earnings guidance for fiscal year 2007/08 remains unchanged / Cumerio takeover to be completed shortly

Earnings before taxes rise by 143 percent / revenues reach € 6.47 billion

Norddeutsche Affinerie AG (NA) expects a pre-tax profit (EBT) of about € 250 million (€ 103 million in the prior year) for the last fiscal year 2006/07 (ending 30 September).

A new distribution and slitting centre of Prymetall Slovakia was officially opened. Prymetall in Stolberg, Germany, is a wholly-owned subsidiary of Norddeutsche Affinerie AG (NA) in Hamburg. The Slovak works has been erected in a new industrial estate and started operations on 1 October 2007.

At its meeting today, the Supervisory Board of Norddeutsche Affinerie AG (NA) has complied with the request of the Chief Executive Officer, Dr Werner Marnette, to release him from his duties by mutual consent.

Review to focus on one product / NA intends removing concerns as soon as possible and continues to expect merger clearance

Norddeutsche Affinerie AG (NA) sees its expectation confirmed that the European Commission will reach a decision in the ongoing merger control review of the planned takeover of Cumerio NV/SA (Cumerio) by mid September. To ensure a quick conclusion of the proceedings, NA has now proposed a set of measures in accordance with the relevant procedure. The review period is therefore extended from 25 to 35 working days.

Norddeutsche Affinerie AG (NA) presented its voluntary climate protection concept today in the presence of Senator Axel Gedaschko. As part of this concept, the CO2 emissions should be reduced by at least an additional 40,000 tonnes at the Hamburg site from 2007 to 2012. Regardless of the company’s considerable achievements to date in climate protection, NA is therefore playing a decisive role in the Climate Protection Concept 2007–2012 of the Free and Hanseatic City of Hamburg. NA’s energy saving programme includes about 200 projects and individual measures involving capital expenditure of more than € 22 million.

In accordance with the legal regulations Norddeutsche Affinerie AG (NA) has notified the Belgian financial market authority that it owns more than 25 % of the voting rights in Cumerio NV/SA (Cumerio). On August 17, NA had already announced that it holds more than 20 % of the voting rights.

In accordance with the legal regulations Norddeutsche Affinerie AG (NA) has notified the Belgian financial market authority that it owns more than 20 % of the voting rights in Cumerio NV/SA (Cumerio).

EBIT rises 58 % to € 128 million / NA expects 2006/07 to be best year in company history

Following the conclusion of pre-notification proceedings, Norddeutsche Affinerie AG (“NA“) today announced that it has filed the merger control notification of the planned takeover of Cumerio NV/SA (“Cumerio“) with the EU Commission. According to Belgian takeover law, the transaction has to be approved by the merger control authorities before the actual tender offer can be launched. The approval of the EU Commission is expected in September 2007.

NA has announced today that it owns more than 15 % of the voting rights in Cumerio.

• Cumerio Board of Directors resolved to recommend to shareholders to tender their shares
• Both management teams continue to view the proposed transaction as the best available industrial combination

Pursuant to the requirements of Belgium law, NA has informed Cumerio today that NA owns more than 10 % of the voting rights in Cumerio.

Norddeutsche Affinerie AG (NA) generated an excellent pre-tax profit (EBT) of € 82 million (€ 48 million in the prior year) in the 1st half of fiscal year 2006/07. The 2nd quarter earnings contributed € 43 million (€ 27 million in the prior year) to this result, which as before was due to very good business operations, above all in the Copper Production Segment. High product sales and the again higher copper price led to a further increase in revenues in the half-year to € 2,967 (€ 2,263 million in the prior year).

Norddeutsche Affinerie AG (NA) abandons its plans to build a substitute fuel power plant and participates in the bituminous coal-fired power plant, which Vattenfall Europe AG will erect in Hamburg Moorburg, by the procurement of a (virtual) slice of the power plant capacity. Representatives of NA and Vattenfall have signed a corresponding agreement to this end on 4 May 2007. As of 1 January 2010, the NA Group will procure a billion kilowatt hours of electricity per annum from Vattenfall for a period of thirty years.

The Supervisory Board of Norddeutsche Affinerie AG (NA) has appointed Dipl. Ing. Peter Willbrandt (45) as Deputy Member of NA’s Executive Board with effect from 1 April 2007.

The core markets of Norddeutsche Affinerie AG (NA) have shown an overall positive trend in the 1st half of fiscal year 2006/07. As a result, production and sales have remained at a high level. Demand for copper products has risen further and increasingly reflected the economic upswing in Germany. This was reported by the Chief Executive Officer of Norddeutsche Affinerie AG, Dr Werner Marnette, at the Annual General Meeting in the Congress Centrum Hamburg, which was again well attended by about 2,500 guests. The payment of a dividend of € 1.05 per share was proposed at the AGM. ”After a successful 1st quarter in the current fiscal year with earnings in the amount of € 39 million (€ 22 million in the prior year), the 2nd quarter has also been very positive,” said Marnette. “The preconditions are therefore excellent that the company will again have a very good fiscal year”. The CEO stressed that NA would grow in the next few years as a result of internal and external steps. The company would counter the strong rise in energy prices by commissioning its own substitute fuel power plant.

The very positive trend in earnings at Norddeutsche Affinerie (NA) has continued in the 1st quarter of the new fiscal year. Earnings before taxes (EBT) in the amount of € 39 million were 77 percent up on the prior year (€ 22 million). The Copper Production Segment made the strongest contribution to earnings. Group revenues rose to € 1.47 billion (€ 0.92 billion in the prior year), above all, due to the high metal prices.

In fiscal year 2005/06 Norddeutsche Affinerie (NA) generated a pre-tax profit in the amount of € 103 million (€ 90 million in the prior year). Revenues rose to € 5.8 billion (€ 3.0 billion in the prior year). The increase in revenues was mainly the result of increased product sales and much higher metal prices. „The again very good net income enables us to recommend an increase in the dividend payment from € 1.00 to € 1.05 per share at the Annual General Meeting. This corresponds to a dividend yield of 5.5 %. We are thus continuing our usual policy of a high payout ratio and dividend yield”, said NA’s Chief Executive Officer, Dr Werner Marnette.

The dramatic rise in electricity prices compels NA to reconsider the future viability of its energy-intensive production sectors. The possibility of closing down particularly energy-intensive sectors, such as the secondary smelter (RWN) in Hamburg, until such time as the company’s own SF power plant is commissioned in 2009, is being considered in order to protect the company from considerable damage. Up to four hundred NA employees could be affected.

Norddeutsche Affinerie AG (NA) has generated an accumulated pre-tax profit (EBT) of € 75 million after nine months of fiscal year 2005/06 (as at 30 June 2006) and has therefore once again achieved a substantial increase in earnings compared with the previous year (€ 62 million). The third quarter made a contribution of € 27 million. Earnings per share for the first nine months rose to € 1.21 (€ 1.08 in the prior year). Total revenues amounted to € 3,906 million (€ 2,125 million in the prior year). The increase in revenues is above all attributable to the strong rise in the price of copper and precious metals. NA’s operating strength was reflected in a further rise in gross cash flow to € 108 million (€ 88 million in the prior year), of which the third quarter has contributed € 45 million (€ 33 million in the prior year).

“We are assuming that the raw material and product markets will continue their positive trend for us. The decisive drivers are the strong global demand for copper as well as the positive economic trend on the German and European core markets. From today’s viewpoint, fundamental changes in this market situation are not expected in the medium term”, said Dr Werner Marnette, Chief Executive Officer of Norddeutsche Affinerie AG. “For fiscal year 2005/06, ending on 30 September 2006, we therefore expect earnings to increase once again. This will create the basis for paying a very good dividend again.”

Norddeutsche Affinerie AG (NA) achieved a pre-tax profit of € 27 million in the 2nd quarter of fiscal year 2005/06 (€ 23 million in the previous year) and thus increased the half-year interim profit to € 48 million (€ 35 million in the previous year). Revenues totalling € 1,342 million (€ 697 million in the previous year) were almost doubled due to a positive uptrend in sales and again higher metal prices.

Norddeutsche Affinerie AG (NA) has terminated the negotiations about a joint venture project in China. „We regret that it was not possible to reach an agreement with the Chinese partners on key issues in the project“, said NA’s Chief Executive Officer, Dr Werner Marnette.

The trend on the core markets of Norddeutsche Affinerie AG (NA) was very positive, both on the raw material and on the product side. Demand for copper products had risen further and the extreme shortage of copper cathodes would still last for months. This was reported by NA‘s Chief Executive Officer, Dr Werner Marnette, on the occasion of the again very well attended Annual General Meeting 2004/05 at the Congress Centrum Hamburg. NA expected the copper price to stay at a high level beyond the calendar year 2006. The CEO stressed that NA must grow, also internationally, by a number of internal and external steps.

Today the Stadtreinigung Hamburg (SRH) and Norddeutsche Affinerie AG (NA) have signed a memorandum of association for the company Kraftwerk Peute Gesellschaft (KWP). The Stadtreinigung and NA each hold a 50 % stake in the new company. The company will operate a new 100 MW power plant run on substitute fuel (SF), which will be commissioned in autumn 2009.

One year after the law on electric and electronic appliances came into force, the collection of used electric and electronic appliances has now become compulsory in Germany. From today onwards, manufacturers throughout the country are obliged to take back and recycle the appliances. Norddeutsche Affinerie AG (NA) prepared for this development early on and, as Europe‘s leading copper producer and the largest copper recycler worldwide, has state-of-the-art technology for the environmentally friendly processing of electric and electronic scrap. NA already invested € 40 million in 2002 in the installation of the Kayser Recycling System (KRS). Now its electric and electronic scrap recycling activities are being further enhanced by additional capital expenditure in the amount of some € 15 million.

The very positive trend in earnings at Norddeutsche Affinerie (NA) continued in the 1st quarter. The earnings before taxes totalling € 22 million were significantly higher than in the previous year (€ 12 million). The general repairs and improvements in the primary smelter, originally scheduled for summer 2006, were successfully completed ahead of time in November 2005 in order to ensure optimal operation during the fiscal year as a whole. The rescheduled production stoppage in the primary smelter has already been absorbed in the results for the 1st quarter. Revenues rose mainly due to the high metal prices to € 921 million (€ 666 million in the previous year).

In fiscal year 2004/05 Norddeutsche Affinerie (NA) achieved earnings before taxes in the amount of € 90 million (€ 47 million in the previous year). Revenues rose to € 3 billion (€ 2.5 billion in the previous year). The revenue increase is attributable to stable product sales and the strong rise in metal prices. „The very good net income for the year enables us to recommend the payment of a dividend of € 1 per share (€ 0.65 in the previous year) at the Annual General Meeting on 30 March 2006“, said NA Chief Executive Officer, Dr Werner Marnette.

At its meeting yesterday, the Supervisory Board of Norddeutsche Affinerie AG (NA) appointed Dr Bernd Drouven (50) as a full Member of the Executive Board effective 1 January 2006. Within the framework of his activities on the Board, he will assume responsibility for all the financial and accounting operations in the NA Group.

Chinese private investors together with Norddeutsche Affinerie AG (NA) intend to build a copper smelter with integrated power plant and a rod plant in the Shandong Province. Leading the preliminary talks for a joint venture into a concrete phase, a letter of intent (LOI) has been signed today by representatives of Yanggu Hongxiang Investment Co., Ltd. (HX), Shandong Fengxiang (Group) Co., Ltd. (SF) and NA.

Norddeutsche Affinerie AG (NA) and the Sanitation Department of the City of Hamburg (SRH) have today signed a Cooperation Agreement. As a result, they are both examining the possibility of constructing and operating a power plant. However, instead of coal, oil or gas, the planned power plant should run on substitute fuel (SF) produced from processed trash so as to supply NA with low-priced electricity. In order to provide NA with about 720 million kilowatt-hours annually, the Hamburg Sanitation Department must supply 750,000 tonnes of substitute fuel from refuse per annum.

Norddeutsche Affinerie (NA) is rescheduling the general repairs and improvement measures, originally planned to be taken in the primary smelter (RWO) in summer 2006, to the 1st quarter of the current fiscal year. As a result, the concentrate processing facilities will be put out of operation at the beginning of November 2005 for a two week period.

The very positive trend in results for Norddeutsche Affinerie (NA) has again been enhanced in the third quarter. Earnings before taxes at € 27.2 million were substantially up on the previous year’s result (€ 18.8 million). After the first nine months accumulated earnings before taxes total € 62.4 million (€ 26.4 million in the previous year). Revenues rose to € 2,125 million (€ 1,776 million in the previous year) primarily due to increased metal prices.

Norddeutsche Affinerie AG (NA) has been awarded Capital magazine’s Investor Relations Prize for the third time. After the years 2000 and 2001, NA has again come first in the Investor Relations competition for the MDAX run by the business magazine Capital and the German Society of Investment Analysis and Asset Management (DVFA). “NA’s Executive Board and IR team are delighted about this,” said CEO Werner Marnette.

Having successfully completed the laboratory development stage, Norddeutsche Affinerie AG (NA) plans in future to produce flexible and particularly light copper-based solar cells for decentralised applications. To continue the development work, NA has succeeded in winning over the heating, air conditioning and sanitary wholesalers Cordes & Graefe KG (C&G), Bremen, as a partner. C & G already operates in the solar market and will actively participate in the market development.

The positive trend in earnings at Norddeutsche Affinerie AG (NA) has been further enhanced in the 2nd quarter. Pre-tax earnings for the quarter amounted to € 23 million. This exceeds the previous year’s result by € 9 million. Revenues also rose – mainly due to the very high copper prices – to € 696 million (€ 643 million in the previous year).

Norddeutsche Affinerie (NA) expects business performance to continue along its very positive trend with corresponding results for the current fiscal year 2004/05. „The showing in the second quarter was similar to the first quarter, so that we can again present very good quarterly and thus half-year figures in our mid May interim report“, stressed Chief Executive Officer Werner Marnette to some 2,500 shareholders and shareholders‘ representatives at NA’s Annual General Meeting in the Hamburg Congress Centre. „Your shareholder value is our concern and we will therefore pay you an appropriate dividend for this year.“

„International copper demand will stay at a very high level for some time. In view of the tightness of the market, we consider that the copper price is basically well supported“, said Werner Marnette, Chief Executive Officer of Norddeutsche Affinerie AG (NA). Much of global copper usage flows into measures to expand the energy sector – not just in China.

HSH Nordbank AG has instructed Deutsche Bank to sell its 10 % shareholding in Norddeutsche Affinerie AG (NA), widely spread to investors in Germany and abroad. Thus, the portion of NA shares accounted for by free float will increase from 80 % to 90 %.

„Now at last the houses can start being built“, said Werner Marnette, the CEO of Norddeutsche Affinerie AG, when handing over a symbolic cheque to the Consul General of Sri Lanka, Carl-Olav Ellerbrock today. 25 residential houses for families affected by the Tsunami seaquake are being erected at the southern tip of Sri Lanka with donations in the amount of € 150,000, which have been collected from the employees and NA.

“Norddeutsche Affinerie AG (NA) has kept its word: in fiscal year 2003/04 the company is resuming its attractive dividend policy and is recommending the payment of a dividend of 65 cents per share at the Annual General Meeting on 31 March 2005”, said Werner Marnette, NA’s Chief Executive Officer, at the annual press conference in Hamburg. “The historical shortage of copper cathodes should continue due to the ongoing strong demand for copper worldwide. China and the U.S. are the market drivers. It is particularly positive that copper demand in Europe, our core market, has also slowly but surely got back into step again.” The recovery of the levels of treatment and refining charges that are so important for NA would continue. NA’s positive economic trend had also continued in the 1st quarter 2004/05.

"Our thanks go to the employees of the Technical Relief Organisation (THW), Hamburg, Schleswig-Holstein, Mecklenburg-Vorpommern, for their exemplary and quick rescue operation for the seaquake victims. In support of THW’s operation, Norddeutsche Affinerie AG and its 3150 employees have donated a mobile drinking water treatment plant and the necessary chemicals for cleaning”, reported Werner Marnette, NA’s Chief Executive Officer, and Hans-Jürgen Grundmann, Chairman of the Works’ Council.

The global hunger for raw materials spurs on metal recycling in Europe. As a result Norddeutsche Affinerie (NA) is expanding its production capacities for the recovery of copper and non-ferrous metals further – especially from electronic scrap. „NA is therefore making a significant contribution to the conservation of metal resources and to the creation of a well-functioning closed-loop materials economy in Germany and Europe", said NA’s Chief Executive Officer Werner Marnette at a press conference in the Hamburg City Hall. „After all, one tonne of copper can be recovered from 14 tonnes of old electrical appliances. Each TV set contains several hundred metres of copper wire.“

Norddeutsche Affinerie AG (NA) is donating € 1 million for the construction of the emigration museum on Veddel, an island in the River Elbe in the southern part of Hamburg. This is the largest sum that NA has donated in its 138-year history.

“Norddeutsche Affinerie AG (NA) is returning to its attractive dividend policy”, said NA’s Chief Executive Officer Werner Marnette. Again in the 4th quarter the results have fulfilled all expectations. Overall fiscal year 2003/2004 closed with a pre-tax profit of € 47 million (€ 3 million in the previous year). “This positive development enables us to recommend the payment of a dividend of 65 cents per share at the Annual General Meeting on 31 March 2005.” Further growth in the copper market would be fully covered by the sound financial structure of the NA Group. Due to the sharp increase in sales and high metal prices NA’s revenues were up 37 % to € 2.5 billion from € 1.8 billion in the previous year.

Norddeutsche Affinerie is reducing its dust emissions in the secondary smelter (RWN) by 70%. „Our latest measure to protect the environment is exemplary for many enterprises in the metals industry“, said Michael Landau, NA’s Board Member responsible for copper production in the Group, on the occasion of the commissioning of the plant today in the presence of guests from industry and politics. „Because the total enclosing of smelter facilities can also be used for old plants at other enterprises in the metals industry.“

„I am clearly committed to supporting industry in Germany. Since without the excellent performance of our industry and without high-tech there would be no jobs in trade and services“, said the Thuringian Minister President Dieter Althaus on Wednesday evening in front of some 400 representatives and guests of the Hamburg CDU Economic Affairs Council in the Communication Centre „Alte Schlosserei“ at Norddeutsche Affinerie. NA’s Chief Executive Officer Werner Marnette urgently demanded of the Union parties that they at long last distance themselves from the vague term „modern service society“.

Jorge Rodriguez Grossi, Chile’s Minister of the Economy and Energy, visited Norddeutsche Affinerie AG (NA) in Hamburg today. He was accompanied by Hamburg State Secretary Dr Herlind Gundelach from the Urban Development and Environmental Authorities and Eduardo Busquets, the Economic Attaché at the Chilean Embassy.

The technical refitting of the inland navigation tankship ENA 1 has been successfully completed. Yesterday the vessel was put into service again on the route between Norddeutsche Affinerie AG (NA) and the Petroleumhafen in Hamburg. Norddeutsche Affinerie has spent € 130,000 on the measures to increase transportation safety.

For the first time Norddeutsche Affinerie (NA) has gathered all its executives at its Recycling Centre, Hüttenwerke Kayser in Lünen. „Lünen is a very investment-friendly town“, said NA’s CEO Werner Marnette.

Minister of Higher Education, Training and Employment Creation of the Republic of Namibia, Hon. Nahas Angula, visited Norddeutsche Affinerie today. He was accompanied by Hanno B. Rumpf, the Ambassador of the Republic of Namibia in Germany.

On Saturday, 30 October 2004 Norddeutsche Affinerie is holding an Open Day at its Recycling Centre Hüttenwerke Kayser in Lünen. Interested persons will have the opportunity to find out about the world’s leading copper recycling enterprise. From 10 a.m. to 3 p.m. visitors (minimum 12 years of age) will be warmly welcomed at Kupferstrasse 23. The area in which the event will be held may be accessed from the works entrance.

Vattenfall Europe AG has expressed its regret to the Executive Board of Norddeutsche Affinerie AG (NA) that its incorrect analysis of the NA Group has been made public.

Norddeutsche Affinerie AG will technically refit the inland navigation tankship ENA 1. In doing so, the company is complying with the recommendations of a group of experts who have analysed the course of events leading to the collision of tankship ENA 2 with the container ship Pudong Senator (28.6.2004) and the tankship’s subsequent capsizing.

„Lünen has the best chance of becoming the largest recycling centre in Germany.“ This was said by Ole von Beust, Mayor of the City of Hamburg on the occasion of his visit to Hüttenwerke Kayser in Lünen, the recycling centre of Norddeutsche Affinerie AG.

A partnership agreement was signed today with Slomanstieg School in the Old Locksmithery „Alte Schlosserei“ at Norddeutsche Affinerie AG. Accordingly, Europe’s largest copper producer has committed itself each half-year to having 14 students from the 8th Class once a week at the works to introduce them to the practical side of the working world. On the occasion of the signing of the agreement the Hamburg Senator for Education and Sport, Alexandra Dinges-Dierig, Head Teacher Hiltrud Kneuer and NA’s Chief Executive Officer, Dr Werner Marnette, discussed new ways of achieving the job-related integration of secondary school graduates and immigrants.

Dr. Werner Marnette, Chairman of the Executive Board of Norddeutsche Affinerie AG (NA), Hamburg, and Chairman of the BDI Energy Committee: „As the Chairman of NA’s Executive Board and Chairman of the BDI (Federation of German Industry) Energy Committee I regret that at today’s top-level talks the opportunity was not taken to make improvements to the government’s draft on the new power industry law in consensus with German industry.

„Global economic competition between nations and regions is also a global competition for the best vocational training“, said Bernd Langner, the Managing Director of Prymetall GmbH, when he welcomed the new apprentices in Stolberg. „Almost 8 percent of our workforce are now in apprenticeships and we want to increase this further“, reported personnel manager Robert Spicker. Together with the 8 new apprentices there is currently a total of 31 apprentices completing their training at Prymetall. The most popular trade is process mechanic, followed by industrial mechanic, electronics installer and material inspector. Many school-leavers still find training as an industrial clerk an attractive choice. „Like at Prymetall, we provide highly-qualified vocational training throughout the whole of Norddeutsche Affinerie“, said Langner.

The Schleswig-Holstein Musik Festival is giving a guest performance this year at Norddeutsche Affinerie AG (NA) in the Peute district of Hamburg. Today’s concert hall is – as a first time SHMF venue – the NA communication centre „Alte Schlosserei“, an old locksmith’s shop, where machines and plants were repaired until the end of the 1990s.

In Norddeutsche Affinerie’s Communication Centre „Alte Schlosserei“ the Integration Advisory Board from the Department of Welfare and Family Affairs under the leadership of the Mayor, Mrs Birgit Schnieber-Jastram, answered questions on the integration of immigrants. Norddeutsche Affinerie’s Chief Executive Officer, Werner Marnette, reported that Hamburg industry actively supported the training of immigrants.

The 3rd quarter earnings of Norddeutsche Affinerie (NA) again show a significant uptrend. Pre-tax earnings amounted to € 19 million, a strong performance which increased earnings for the first nine months of the fiscal year to € 26 million (€ 3 million in the previous year).

„The global economic competition between nations and regions is also global competition for the best occupational training,“ said Werner Marnette, the Chief Executive Officer of Norddeutsche Affinerie when he welcomed 42 apprentices and trainees. „If we as a Hamburg industrial enterprise offer the prospect of highly qualified training, we do this deliberately in our own interests, but also to benefit the growing metropolis of Hamburg.“ With a total of 151 apprentices Europe’s largest copper producer still has one of the most extensive training programmes in the chemical industry in North Germany.

Today, Saturday, July 3, from 4:00 p.m. onwards (2 hours before high tide) the disabled vessel ENA 2, which is floating in the Petroleumhafen upside down, is scheduled to be turned over by the salvage company in a controlled process. Before that it was ascertained that no hazards emanate from the disabled vessel. In particular, this concerns the possible explosion risk due to the gases formed in the tanks.

The Norddeutsche Affinerie does not participate in a preliminary conviction of the captain of the ENA 2. If Christian Maaß, deputy chairman of the GAL parliamentary party, is already aware of the results of the inquiries of the district attorney and the Maritime Board of Inquiry, it is his duty as a member of the Hamburg parliament to make these results available for the public and the companies concerned.

The salvage process to lift and recover the acid tanker “ENA 2” is still in full swing. The target is to remove the state of risk as quickly as possible.

All efforts of the persond in charge of the salvage of the acid tanker ENA 2 are aimed at keeping the risks for man and environment as little as possible. Thus, experts from different areas are consulted in order to reduce the amounts of sulfuric acid, which could leak into the Elbe, to a minimum. Two additional issues, namely the formation of hydrogen gas in the tanks and the retention of the diesel fuel, have to be taken into account.

The Norddeutsche Affinerie AG (NA) will not take part in the premature conviction of Captain Mike K., who was operating the chemical transporter ENA 2 during the collision with the container vessel Pudong Senator on June 28, 2004. The legal review and seaman’s assessment of the accident is the task of the Justice Department and the Maritime Board of Inquiry.

At today’s meeting at 8:00 a.m. relating to the current situation the Fire Department, the Police Department and the NA ascertained that the current situation of the collided transport vessel is stable so far and no conspicuous readings were determined in the water.

At 6:35 p.m. on June 28, 2004 the specialty transport vessel ENA 2 of the Nordddeutsche Affinerie AG (NA) and the container ship Pudong Senator collided in the confluence area of Parkhafen/Petroleumhafen. The container ship Pudong Senator was leaving the Hamburg harbor from the Eurokai and heading for the North Sea. The ENA 2 was loaded with about 960 tons of sulfuric acid and on her way from the NA to the acid terminal at the Petroleumhafen. The ENA 2 was specially designed for the transport of sulfuric acid and equipped with double walls for safety reasons.

The crew of the ENA 2 (1 captain, 1 boatman) was able to steer the damaged ENA 2 to the landing stage and anchor at the quay after the collision.

Owing to the damage of the vessel’s outer steel side from the collision, water apparently entered the hollow space between the acid tanks and the vessel’s side, which caused the vessel to capsize. The ENA 2 is currently overturned in the Petroleumhafen. According to the present state of knowledge the acid tanks have remained undamaged. Persons were not injured as a result of the collision.

Today Norddeutsche Affinerie AG (NA), Hamburg, and Electrabel Deutschland AG, Berlin, have signed a Letter of Intent in Hamburg covering the erection of a generating plant and/or a high-voltage line for NA’s power supply.

„After a very difficult year in 2003, the copper recycling business is clearly picking up“, said Gerd Hoffmann, manager of the recycling sector at Norddeutsche Affinerie (NA) during the conference of the international recycling association, BIR, in Berlin. „Incentives to increase the collection of copper scrap and diminish existing stocks have been provided by the sharp rise in the copper price since the beginning of the year. In addition, improved capacity utilisation in the processing industry has resulted in larger quantities of production scrap and recycling materials arising.“

„A special type of school sports“ — under this motto 20 students from the Slomanstieg school in Veddel (a suburb of Hamburg) are receiving coaching today from players of TV Fischbek, a volleyball club in the German women’s premier volleyball league. Werner Marnette, Chief Executive Officer of the main sponsor Norddeutsche Affinerie AG, was in the gallery when the girls and boys from the 7th – 9th grades practised overarm passing and other moves.

The results of Norddeutsche Affinerie (NA) showed a very positive trend in the 2nd quarter. As a consequence the NA Group has returned to profit. The losses in the 1st quarter, which were above all due to a scheduled production standstill for performance enhancement measures taken in the Hamburg concentrate processing facilities, have been more than offset. Earnings before taxes in the 2nd quarter amounted to 14 €m. Thus, in the 1st half-year earnings before taxes in the amount of 8 €m were generated. „NA‘s projects to cut costs and improve results have made a significant contribution to earnings“, said Chief Executive Officer Werner Marnette. The prospects for copper are good since global demand has stabilised the copper price at a high level. „After the turnaround in the 2nd quarter we reckon that the business trend will remain positive“, stressed the NA CEO. „We are therefore confident that we shall be able to resume our attractive dividend policy.“

„The prospects for copper and Norddeutsche Affinerie AG are good. The highest copper demand is currently coming from the growth regions of Asia.“ This was reported by the Chief Executive Officer, Werner Marnette, on the occasion of NA’s Annual General Meeting at the Hamburg Congress Centre. „But in the course of the economic upturn a significant rise in demand will also develop on the traditional markets in Europe and North America.“ For this reason the copper price would also stabilise at a high level. „We are standing at the beginning of the fifth copper price cycle since 1970.“

Hüttenwerke Kayser AG (HK) has been amalgamated in Norddeutsche Affinerie AG (NA) economically retroactive to 1 October 2003. The entry was made in the Commercial Register in Hamburg yesterday. The Lünen works will still be called Hüttenwerke Kayser.

The development of flexible solar cells on copper film has been successfully completed at Norddeutsche Affinerie AG (NA). „We are now endeavouring to utilise the results in a market-oriented product and in the development of the production processes. We want to do this together with a suitable partner from the industry“, said NA’s Chief Executive Officer, Werner Marnette. Production should be continuous, from roll to roll. Finally the solar cell rolls should be cut into strips, combined electrically and laminated in films. „We hope production can begin within three years“, the CEO said to solar experts at the „CIS Symposium“ in Hamburg.

Hüttenwerke Kayser AG (HK) is being amalgamated in Norddeutsche Affinerie AG (NA) economically retroactive to 1 October 2003. Corresponding applications have been made to the Commercial Registries in Lünen and Hamburg. The entry is expected to be made shortly. Thus an important prerequisite is being created for securing the future of the copper production at the Lünen site. The Lünen works will continue to be called Hüttenwerke Kayser.

The Allianz/Dresdner Bank Group has reduced its holding in Norddeutsche Affinerie AG (NA) from the former about 8 % to considerably less than 5 %. Thus the free float of NA shares has increased from 72 % to 80 %.

Norddeutsche Affinerie AG (NA) is the largest copper producer in Europe and a leading enterprise in environmental protection. In addition to constant increases in productivity, the company’s primary targets include the improvement in environmental protection, health care and occupational safety. Since 1985 NA has pursued voluntary agreements with the Hamburg Authorities for Environmental and Health Affairs as regards environmental protection at the Hamburg production site. Today the fifth agreement of this type has been signed. The agreement’s aim is to reduce the emissions still existing at NA again significantly within three years and to make a further contribution to climate protection. The necessary volume of capital expenditure will amount to about 20 million €.

In the 1st quarter of fiscal year 2003/2004 Norddeutsche Affinerie AG (NA) generated earnings before taxes in the amount of minus 7 million € (3 million € in the previous year). This is the result of a bad economic environment on the raw material and product markets as well as a redu