3rd Quarter 2003 (First Nine Months) Fraport AG on the Upswing: Noticeable Increase in Results Despite Difficult Market Conditions

FRANKFURT/MAIN (Germany) 13th November (PROTEXT) - In the firstnine months of 2003, Fraport AG Frankfurt Airport ServicesWorldwide posted a 1.8 percent increase in Group revenues to1,368.8 million. Group profits of 106.1 million exceeded theprevious years figure by 27.4 percent. Fraport AGs executiveboard chairman, Dr. Wilhelm Bender, said he was very satisfiedwith what has been achieved in the first nine months of 2003.So far this year, Fraport AGs overall financial development hasreached expectations, despite many negative external factors.

The climb in revenues was mainly due to increasing demandfor security services including the 100- percent screening ofhold baggage that has been in operation at airports throughoutthe European Union since January 2003. Because of the effectsof the Iraq conflict, SARS (Severe Acute Respiratory Syndrome),and the stalled global economy, Fraport registered a drop inincome from airport charges which are dependent primarily onair traffic volumes.

From January to September 2003, the Groups total passengervolume reached 53.3 million, 0.5 percent more than in thecorresponding period last year. Frankfurt Airport (FRA) themost important airport of the Fraport Group served 36.5 millionpassengers in the first three quarters of 2003, down 1.3 percentfrom the same period last year. Antalya Airport (AYT) recordeda 3.7 percent drop in passenger traffic during January toSeptember 2003; a noticeable rejuvenation of passenger demand inthe third quarter partly offset the loss resulting from the Iraqwar. Due to its focus on the low-cost market the GroupsFrankfurt-Hahn Airport (HHN) experienced substantial growth inpassenger figures, which jumped by almost 72 percent.

Cargo volumes and aircraft movements at Frankfurt Airportreached a similar level as in the previous year. Compared tothe first nine months of 2002, airfreight and airmail at FRAgrew by 0.7 percent to 1,200,898 metric tons, while aircraftmovements increased slightly by 0.4 percent to 345,613 take-offsand landings.

Bender spoke optimistically about the future traffic volumeat the Groups airports. For the remaining weeks of 2003, weexpect noticeable recovery in demand and further growth inpassenger figures compared to the same period last year, saidFraports CEO. Most players in the aviation industry areconfident that the bottom of the valley has been reached andthat in the foreseeable future the industry will again be ridingthe growth waves prevailing prior to 2001.The Fraport Group employed a total of 23,325 people (alllocations), some 2,595 more than in the corresponding periodlast year. ICTS Europe alone Fraports wholly-owned subsidiarythat provides aviation security services throughout Europe sawits employment climb by 2,370 people. Correspondingly, revenuegrowth from security services was offset by additional costs forthe extra security staff required. Thus, personnel expensesrose by 8.5 percent to 688.0 million. Material costs remainedat approximately the same level as last year, slightlydeclining by 0.3 percent to 358.4 million.

Earnings before interest, tax, depreciation and amortization(EBITDA) declined 1.8 percent to 394.4 in the nine-monthreporting period. There was a positive effect compared to theprevious year because of dividend income received in 2003 fromAntalya and because there was no write down required in thefirst nine months of 2003, unlike in 2002 when an extraordinarywrite-down was required for the Manila project.

Fraports profit from ordinary operations reached 210.5million, a 6.7 percent increase over the previous years figure.This growth was primarily due to the improved financial result.Growing 27.4 percent over the corresponding period last year,the Group profit of 106.1 million benefited from a lower Grouptax rate.

Earnings per share, according to IFRS (InternationalFinancial Reporting Standards), increased from 0.92 to 1.18.

Frankfurt Airports passenger figures for the entire year2003 are expected to remain marginally below last years level,due the effects of the Iraq war, SARS and the weak economy.

If no further risks are encountered in the fourth quarter of2003, Fraport expects that the EBITDA and Group profit willreach similar values as last year adjusted for theextraordinary write-down of the Manila project. Fraport AG issteering a clear course through stormy weather, said Bender.Today, the company is extremely well positioned strategicallyand with its high degree of job security can respond flexibly.This will benefit Fraport especially when the global economywill be gathering steam again in the coming year.

Note to Editors: A copy of Fraport AGs 3rd Quarter Report(interim report for the nine months ending September 30, 2003)can be downloaded from our Web site at: www.fraport.de (seeInvestor Relations, then download).

For More Information, Please Contact: Fraport AG FrankfurtAirport Services Worldwide Attn: Robert A. Payne ManagerInternational Press 60547 Frankfurt am Main, Germany

Tel.: +49 69.690.78547 / Fax: +49.69.690.60548 E-mail:r.payne@fraport.de

Internet: www.fraport.de

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