September 8, 2003 -- Heidelberg 2002/2003 Annual Report was rated by the business magazine Manager Magazin as the best on the M-DAX in its annual report ranking. This is now the third time that Heidelberg has been named the M-DAX winner. In the overall evaluation of all the annual reports examined, Heidelberg was in fifth place. Each year since 1995, Hamburg-based Manager Magazin has been analyzing the annual reports of the largest companies listed on the stock exchange and evaluating them according to content, appearance, language, financial communication and quarterly reporting. The Manager Magazin competition is the most comprehensive comparison of annual reports in Germany and one of the largest in Europe. “Especially in difficult times, the annual report is an ideal means of communication for clearly outlining any restructuring that is needed and setting out the reasons behind it. This is the only way to retain investor confidence in our corporate strategy”, explains Heidelberg CFO Dr. Herbert Meyer.