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Changes in the Supervisory Board at Heidelberg: Spiegel to Leave

Press release from the issuing company

June 28, 2004 -- At today’s Supervisory Board meeting of Heidelberger Druckmaschinen AG, the participants discussed and decided upon changes in the Supervisory Board and the Management Board. Following his official vocation by the local district court and after Heidelberg’s Shareholders’ Meeting on July 21st, 2004, Dr. Mark Wössner is to succeed Dr. Klaus Sturany as Chairman of the Supervisory Board of Heidelberger Druckmaschinen AG. Wössner, Chairman of Citigroup Global Markets Deutschland AG & Co KGaA, had been Chairman of the Management Board for Bertelsmann AG from 1982 through 1998, afterwards until 2000 Chairman of Bertelsmann’s Supervisory Board. Additionally, Wössner is member of various Supervisory Boards, among them DaimlerChysler AG. Following RWE’s sale of its share in Heidelberg, the current Chairman, Dr. Klaus Sturany, will resign from his mandate as Chairman of the Supervisory Board after the Shareholders’ Meeting on July 21st, 2004. Sturany, Chief Financial Officer of RWE, will remain member of Heidelberg’s Supervisory Board. Jan Zilius, member of the Management Board of RWE, will resign from Heidelberg’s Supervisory Board, effective after the Shareholders’ Meeting on July 21st, 2004. Heidelberg’s Supervisory Board has appointed Dr. Jürgen Rautert to regular member of Heidelberg’s Management Board, responsible for engineering and manufacturing, as of July 1st, 2004. In the same motion, the Supervisory Board complied with Dr. Klaus Spiegel’s request to discharge him from the Management Board as of June 30th, 2004. This was decided in mutual agreement and on good terms. Spiegel will leave the company, but will remain connected to Heidelberg as advisor regarding future market requirements. The Supervisory Board thanked Dr. Spiegel for his long standing dedication. Heidelberg’s Chairman of the Supervisory Board, Dr. Klaus Sturany, on the changes in the Management Board: “As Heidelberg’s new alignment has been completed in almost all aspects, today’s Supervisory Board decisions now have set the scene for the new Management Board. We wish the team under Bernhard Schreier’s leadership a good hand at accomplishing the operative tasks ahead”. As of July 1st, 2004, Heidelberg’s new Management Board will consist of: Bernhard Schreier (50) - CEO, Dr. Herbert Meyer (57) – CFO and Dr. Jürgen Rautert (45) - Engineering and Manufacturing.