Fraport Supervisory Board Appoints Dr. Stefan Schulte as New CFO

Frankfurt, Germany (ots) - Fraport AG's Supervisory Board today approved the appointment of Dr. Stefan Schulte as the company's new executive board member responsible for finance (chief financial officer or CFO). Dr. Schulte will succeed Johannes Endler who is retiring at the end of March 2003.

Since January 2001, Dr. Stefan Schulte (age 42) has been an executive board member of Cologne-based Deutz AG, where he was responsible for finance and human resources. A banker by training, Dr. Schulte studied for a doctorate degree, earning his "Dr. rel. pol." in 1991. He began his career at Deutsche Bank's group development department. Then he joined Mannesmann Arcor in Eschborn (near Frankfurt) as area director for controlling. Later, Dr. Schulte served as board member for finance (CFO) at Infostrada S.p.A., the Mannesmann/Vodafone group's former Italian (Milan-based) fixed-network subsidiary.