Lenzing Managing Board Complete Again

Thomas Fahnemann Appointed Chairman of the Board of Management

After the departure of Jochen Werz in April of last year, the top position on Lenzing AG's Board of Management was unoccupied. The Supervisory Board has now filled this vacancy and appointed Thomas Fahnemann as Chairman of the Board of Management.

Thomas Fahnemann, born 1961, will join Lenzing AG's Board of Management on 1 March 2003. Next to Thomas Fahnemann, who will be the new chairman, Franz Raninger, Christian Reisinger and Peter Untersperger will continue in their functions as members of the Board of Management.

Before joining Lenzing AG, Thomas Fahnemann was Vice President and General Manager of the sector "Intermediates, Polymers and Filaments" at KoSa in Houston, Texas. KoSa is one of the lea-ding polyester manufacturers in the world. There, Thomas Fahnemann held a position comparable to a CEO of the company's largest sector, which has 9 production locations in all parts of the world and a staff of 3,400.

Thomas Fahnemann has a thorough knowledge of the fiber industry throughout the world, he has international management experience, as well as extensive practice in developing new market acti-vities and penetrating new sales markets. The Supervisory Board expects that with the appointment of Thomas Fahnemann, the Lenzing Group will steer an even more global and market-oriented course.