GL Announces Managment Changes

Rainer Schöndube, Member of the Executive Board at Germanischer Lloyd AG, will resign from office leaving the management on September 300. He will, however, stay affiliated with Germanischer Lloyd as adviser. With his retirement Schöndube, who has been responsible for the commercial field and the Industrial Services at Germanischer Lloyd, gives way for a change in the Executive Board.

On September 1, 2007 the Executive Board of Germanischer Lloyd will be extended by Dr Joachim Segatz. Dr Segatz will take over Mr Schöndube's finance division. Dr Segatz studied Mechanical Engineering with emphasis on aircraft construction and fluid mechanics at the Technical University Braunschweig, Germany. After having received a PhD in physics and chemistry at the University of Heidelberg, Dr Segatz worked as consultant at McKinsey & Company from 1995 to 1998. Since 1998, Dr Segatz has been working in different divisions of the Tchibo GmbH. His last assignment was at Tchibo Logistik GmbH, Bremen, where Dr Segatz has been holding the position of Managing Director.

After Schöndube's retirement the Executive Board will thus consist of Dr Hermann J. Klein, who continues being responsible for the Maritime Services, and Dr Segatz. Lutz Wittenberg will temporarily take over management of the Industrial Services.