New Chief Financial Controller named to the Executive Board of IWKA

Mr. Dieter Schäfer (aged 51) will assume the position of Chief Financial Controller on the Executive Board of IWKA Aktiengesellschaft, Karlsruhe, effective January 1, 2004

December 18, 2003

Dieter Schäfer, Dipl.-Kaufmann, joined Gildemeister Aktiengesellschaft asManager of the Central Accounting and Finance Department in 1991. From 1993onwards, his duties included a number of senior roles at Director level in thegroup.

From 1997 to 2003, Dieter Schäfer was Gildemeister Aktiengesellschaft's ChiefFinancial Officer.

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