Ad-hoc | 20 February 2003 09:17

Nordex AG english

Nordex CEO suspended from duty Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nordex CEO suspended from duty Hamburg, February 20, 2003. Dietmar Kestner, CEO of Nordex AG has been suspended from duty by the company’s Supervisory Board until further notice. At an extraordinary meeting of the executive committee of the Supervisory Board, the Nordex Board of Management presented a package of measures to reduce costs and improve earnings. The Supervisory Board and the main shareholders, WestLB and Nordvest, supported the concept and are convinced that the Company will emerge strengthened from this phase ofconsolidation. The cornerstone of this immediate program is the reduction of fixed costs. A total of 150 Jobs are to be shed and other operating expenditure is to be reduced by approx. 20 per cent. The merger of the subsidiaries Nordex Energy GmbH and Südwind Energy GmbH has already been initiated together with a reorganization of the Company with a view to achieving a uniform Company structure. Please direct any queries to: Nordex AG, Ralf Peters Telephone : +49 (0)40 / 50098 -100, Telefax: +49 (0)40 / 500 98 – 333 end of ad-hoc-announcement (c)DGAP 20.02.2003 ——————————————————————————– WKN: 587357; ISIN: DE0005873574; Index: Nemax-50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200917 Feb 03