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Augsburg, 21. January 2005. After 32 years of service with MAN, Dr. Hans-J. Schulte, Member of the Executive Board of MAN AG (Munich) and Chairman of the MAN B&W Diesel Executive Board, officially retired from professional life today. At the farewell celebration attended by 150 guests, Håkan Samuelsson, Chairman of the Executive Board of MAN AG and Chairman of MAN B&W Diesel AG’s Supervisory Board emphasised: “Thanks to his international experience and his extensive knowledge of the diesel engine markets worldwide, Dr. Schulte has always been able to give fresh impetus to the Executive Board of the MAN Group and has pushed the diesel engine division decisively forward.” At the end of January, Dr. Hans-J. Schulte will retire from professional life.

Augsburg’s mayor, Dr. Paul Wengert, thanked Dr. Schulte for his entrepreneurial activities which have benefited the welfare of the city: “Dr. Schulte has actively campaigned in order to support and stabilise the Augsburg business location. Instead of sitting back, which is common practise these days, Dr. Schulte has taken action. He provided and safeguarded jobs and, consequently, invested in Augsburg’s future. The Augsburg quality of life has always been very important to Dr. Schulte and he made every effort to enhance it. This is appreciated by everyone in our town.”

After his studies in law at Münster, Genf and Harvard, the Westfalian by birth joined MAN in 1973 as a young lawyer. Six years later, he was in charge of the Investment Division of the former M.A.N. Aktiengesellschaft in Augsburg. In 1984, Dr. Schulte was appointed Member of the first Executive Board of the newly founded MAN B&W Diesel AG and MAN B&W Diesel A/S (Copenhagen). In 1998, he was appointed Chairman of the MAN B&W Diesel Executive Board and Member of the MAN Aktiengesellschaft Executive Board.

Dr. Schulte had significant involvement in the development of the present MAN B&W Diesel Group. 25 years ago, MAN acquired the Danish B&W Diesel A/S. In 1987, a stake in the French engine manufacturer, S.E.M.T. Pielstick in Paris and St. Nazaire was acquired. During his term as Chairman, Dr. Schulte put in place further milestones in MAN B&W’s company history: The majority of Czech turbocharger manufacturer PBST was acquired in the year 2000. In the same year, ALSTOM Engines Ltd, located in the United Kingdom was also acquired. In 2002, MAN B&W Diesel established its own company for turbocharger assembly in Shanghai.

“With a view to global connections, you soon laid the foundations with regard to international markets and our worldwide company business”, said Fritz Pape in his tribute to his Executive Board colleague. “Dr. Schulte is a real Diesel man.” His entrepreneurial hand will continue to be recognised throughout the MAN B&W Diesel Group.

On behalf of the employees, chairman of the works council Detlef Dirks, thanked Dr. Schulte: “The staff and their rights of participation were basic elements in his way of working, which finally resulted in mutual appreciation and respect.”

Superior presidential tasks will, until further notice, be taken over by Håkan Samuelsson, President of the MAN AG, as “Working Chairman”. Further Members of the MAN B&W Diesel AG Executive Board are Fritz Pape, Dr. Peter Sunn Pedersen, Dr. Stefan Spindler and Dr. Stephan Timmermann, who will come to Augsburg from the Management Board of Schwäbische Hüttenwerke GmbH (Aalen) in February 2005.

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