ThyssenKrupp Elevator strengthens market position in Eastern Europe

Majority interest acquired in Lift Service in Lublin, Poland

ThyssenKrupp Elevator AG has increased its shareholding in Lift Service S.A. in Lublin, Poland to 75.03 percent. With approximately 314 employees at several locations in Poland, the company installs, services and provides components for elevators, escalators and passenger boarding bridges.

This acquisition has boosted ThyssenKrupp Elevator`s market share to 20 percent - making it the second largest elevator company in Poland - and strengthens the company`s strategic position in Eastern Europe.

ThyssenKrupp Elevator is the third largest elevator company in the world, with activities in over 60 countries at more than 800 locations. ThyssenKrupp Elevator AG has some 29,000 employees and achieved sales of approx. 3.5 billion euros in fiscal 2001/2002 (year ended Sept. 30, 2002). The company`s products include passenger and freight elevators, escalators and moving walks, stair and platform lifts, and passenger boarding bridges plus top quality service for the entire range.

Contact

ThyssenKrupp Elevator AG
Dr. Rembert Horstmann
Communication & Marketing
Phone + 49 211 824-38414
Fax +49 211 824-36839
E-mail: Horstmann@elevator.thyssenkrupp.com