Rainer Beaujean appointed new CFO of Demag Cranes AG

Düsseldorf,   04. May 2007

At its meeting today the Supervisory Board of Demag Cranes AG appointed Mr. Rainer Beaujean (38) as the new CFO of Demag Cranes AG with effect from June 1, 2007.

Rainer Beaujean was most recently CEO of T-Online International AG in Darmstadt, the European market leader for Internet services. In this position, which he held from 2004 until 2006, he was in particular responsible for the expansion of T-Online and its internationalization.

Having graduated in business studies he embarked on his professional career in Group Accounting at Deutsche Telekom AG. From there he transferred to the staff of the board member responsible for Finance and Controlling before he became Head of Controlling reporting to the board member for the International Subsidiaries and Investments division. From February 2000 Rainer Beaujean worked as head of board member support to the CFO. With effect from October 1, 2000, he joined the Management Board of T-Online International AG as CFO.

The Supervisory Board of Demag Cranes AG is pleased that in Rainer Beaujean it has acquired a proven financial and capital market expert and an very experienced manager.

Rainer Beaujean replaces Dirk Kiessling (42), who for personal reasons declined to have his contract prolonged and will leave the company on May 31, 2007. The Supervisory Board acknowledges this decision with regret and would like to thank Mr. Kiessling for his fifteen years of successful service for what is today Demag Cranes AG and its subsidiaries. Mr. Kiessling will remain available to the company in an advisory role. The Supervisory Board wishes Mr. Kiessling every continued success both in his career and his private life, and all the very best.

Furthermore the Supervisory Board prolonged the contract of CEO Harald J. Joos by three more years until March 31, 2011.

About Demag Cranes:

Demag Cranes AG is one of the world’s leading providers of industrial cranes, crane components, harbour cranes and port automation technology. Services, in particular maintenance and refurbishment services, are another key element of the Group’s business activities. The Group is divided up into the three segments Industrial Cranes, Port Technology and Services and has the strong and established "Demag" and "Gottwald" brands. Demag Cranes sees its core expertise in the development and design of technologically advanced cranes and hoists as well as automated transport and logistic systems in ports, the provision of services for these products and the manufacture of high-quality components.

As a global supplier, Demag Cranes manufactures in 16 countries on five continents and operates a worldwide sales and service network that is present in over 60 countries through its subsidiaries, representative offices and joint ventures. In financial year 2005/2006, 5,680 employees generated sales of some EUR 987 million. Since the end of June 2006, the Demag Cranes share (WKN: DCAG01) has been listed in the Prime Standard of the German Stock Exchange and is included in the SDAX share index.

Demag Cranes. We Can Handle It.


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