FWB Exchange Council Reappoints Lutz Raettig Chairman - Dr. Alois Rhiel Welcomed The Exchange Council

The members of the Exchange Council of the Frankfurt Stock Exchange (FWB) have unanimously reappointed Dr. Lutz Raettig, Morgan Stanley, to the post of Chairman and Hermann-Josef Lamerti, Deutsche Bank, as vice-Chairman. Heinz-Jürgen Schäfer, DVFA Deutsche Vereinigung für Finanzanalyse and Asset Management and Prof. Dr. Wolfgang Gerke, University Erlangen-Nuernberg have been elected to to serve as investor representatives on the Council. Dr. Alois Rhiel, Minister of Economics of the State of Hesse welcomed the Exchange Council in their constitutive meeting.

The Exchange Council is the highest controlling and supervisory body of the FWB. Its main responsibilities are the appointment and supervision of the Exchange's general management as well as the enactment of Exchange Rules, Fee Regulations, and the Conditions for Transactions on the Exchange. The Exchange Council comprises 24 members, who are elected for a period of three years. The most recent election for the Exchange Council took place on 12 November 2004.