EANS-News: Salzgitter AG announces adjustment of the Exchange Ratio under the bonds exchangeable into shares of Aurubis AG due 2017 - International Securities Identification Number (ISIN): DE000A1AYDS

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Capital measures/Bonds Exchangeable ISIN DE000A1AYDS2

Salzgitter (euro adhoc) - Not for publication or distribution in the
United States, Australia, Canada, Japan or South Africa

On 1 March 2012, the shareholders' meeting of Aurubis AG resolved
upon the payment of a cash dividend for the financial year 2010/2011
of EUR 1.20 per no-par value share in Aurubis AG entitled to
dividends. Herewith Salzgitter AG announces that the Exchange Ratio
under the senior unsecured bonds exchangeable into existing ordinary
bearer shares of Aurubis AG, issued by Salzgitter Finance B.V. and
guaranteed by Salzgitter AG, due 2017 (the "Bonds") is adjusted
following the payment of an Extraordinary Cash Dividend pursuant to §
10 (5) of the Terms and Conditions of the Bonds. Pursuant to § 10
(14) of the Terms and Conditions of the Bonds, the Extraordinary Cash
Dividend for the Relevant Financial Year lasting from 1 October 2010
to 30 September 2011 amounts to EUR 1,20. As a consequence, the
adjusted Exchange Ratio amounts to EUR 1,071.0813. This Adjustment in
accordance with § 10 (11) of the Terms and Conditions of the Bonds
became effective on 2 March 2012.

IMPORTANT NOTE - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (OR
TO US PERSONS), AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA, OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW

This publication is for information purposes only and does not
constitute or form part of, and should not be construed as an offer
or an invitation to sell, or issue or the solicitation of any offer
to buy or subscribe for, any securities. In connection with this
transaction there has not been, nor will there be, any public
offering of any securities. No prospectus will be prepared in
connection with the offering of the Bonds. The Bonds may not be
offered to the public in any jurisdiction in circumstances which
would require the Issuers of the Bonds to prepare or register any
prospectus or offering document relating to the Bonds in such
jurisdiction.

The distribution of this publication and the offer and sale of the
Bonds in certain jurisdictions may be restricted by law. Any persons
reading this publication should inform themselves of and observe any
such restrictions.

This publication does not constitute an offer to sell or a
solicitation of an offer to purchase any securities in the United
States. The securities referred to herein (including the Bonds and
the shares of Aurubis AG) have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act") or the laws of any state within the U.S., and may not be
offered or sold in the United States or to or for the account or
benefit of U.S. persons, except in a transaction not subject to, or
pursuant to an applicable exemption from, the registration
requirements of the Securities Act or any state securities laws. This
publication and the information contained herein may not be
distributed or sent into the United States, or in any other
jurisdiction in which offers or sales of the securities described
herein would be prohibited by applicable laws and should not be
distributed to United States persons or publications with a general
circulation in the United States. No offering of the Bonds is being
made in the United States.

Subject to certain exceptions, the securities referred to herein
(including the Bonds and the shares of Aurubis AG) may not be offered
or sold in Australia, Canada, Japan or South Africa to, or for the
account or benefit of, any national, resident or citizen of
Australia, Canada, Japan or South Africa. The offer and sale of the
securities referred to herein has not been and will not be registered
under the applicable securities laws of Australia, Canada, Japan or
South Africa.

In the United Kingdom, this publication is only being distributed to
and is only directed at (i) persons who fall within the meaning of
investment professional pursuant to Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") and (ii) high net worth entities falling within Article
49(2)(a)-(d) of the Order and (iii) persons to whom it would
otherwise be lawful to distribute it (all such persons together being
referred to as "relevant persons"). The Bonds are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such Bonds will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or
rely on this publication or any of its contents.

Any offer of the Bonds may in member states of the European Economic
Area which have implemented the Prospectus Directive (each, a
"relevant member state"), only be directed at persons who are
"qualified investors" within the meaning of Article 2(1)(e) of the
Prospectus Directive (Directive 2003/71/EC as amended and applicable)
and pursuant to the relevant implementing rules and regulations
adopted by each relevant member state ("Qualified Investors").

Further inquiry note:
Bernhard Kleinermann
+49 (0) 5341/21-1852
ir@salzgitter-ag.de

end of announcement euro adhoc
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company: Salzgitter AG
Eisenhüttenstraße 99
D-38239 Salzgitter
phone: +49 (0) 5341-21-3783
mail: info@salzgitter-ag.de
WWW: http://www.salzgitter-ag.de
sector: Iron & Steel
ISIN: DE0006202005
indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English