IWKA Annual General Meeting

In Karlsruhe on July 04, 2003 at the IWKA Aktiengesellschaft Annual General Meeting, the Executive Board and the Supervisory Board approved the dividend proposal of EUR 0.66 per share by a wide majority. This makes the current dividend yield more than 5 %, a sign of the dividend strength of the equity. Reinhard Engel and Mathias Kammüller were newly elected to the Supervisory Board as shareholder representatives. Kammüller is Spokesman of TRUMPF Werkzeugmaschinen GmbH + Co. KG in Ditzingen. Volker Doppelfeld, Jürgen Hubbert, Heinz-Jörg Platzek and Christian L. Vontz were reelected as shareholder representatives.

The shareholders also approved the remaining items on the agenda by a wide majority.

At the opening meeting of the Supervisory Board, Reinhard Engel (61) was elected the new Chairman. Engel was head of Buderus Heiztechnik GmbH for several years and most recently Deputy Chairman of the Executive Board of Buderus AG. Prior to that, he had spent 16 years as Managing Director of SEW Eurodrive, Bruchsal, a leading drive technology company. He studied technical business administration in Karlsruhe. Wolf-Hartmut Prellwitz was voted Honorary Chairman of the Supervisory Board.

Prellwitz came to IWKA in 1978 and was Chairman of the Executive Board from 1979 to 1996, after which he served as Chairman of the Supervisory Board. When Prellwitz joined IWKA, he found the company in a difficult situation. His early years were characterized by restructuring and reconstruction efforts. As Chairman of the Executive Board, Prellwitz set a decisive course for the future security of the Group. Under his leadership emerged one of the first German management holding companies with a completely decentralized corporate structure. As part of the Groups continued development strategy during his Supervisory Board chairmanship, the companies focused on achieving strong market positions in their core business sectors.

Executive Board Chairman Hans Fahr thanked Prellwitz at the annual general meeting for his lifes work in developing IWKA into an international mechanical engineering systems supplier.