Frankfurt Airport Expertise to Be Used by Shanghai's Airports

FRANKFURT 27. 12. 2002 (Germany) (ots/APROTEXT) - China'sbooming economic region of Shanghai plans to use Frankfurt'sairport know-how for developing its airports in the future. Acooperation agreement between Fraport AG Frankfurt AirportServices Worldwide and Shanghai Airport Group is expected to besigned on December 30, as part of celebrations during a Germanstate visit to China.

Germany's chancellor Schröder is visiting China with a high-level delegation of German political and business leaders.Fraport AG's executive board chairman, Dr. Wilhelm Bender, isamong the group of business leaders participating in the visit.At an official banquet in Shanghai on the evening of December 30,Bender will sign a cooperation agreement with the chairman ofthe Shanghai Airport Group, Xia Keqiang. Top political leadersof both countries will also be on hand, resent at this ceremony,including China's prime minister, Zhu Rongji, and Shanghai`slord mayor, Chen Liangyu. Along with Schröder, the Germandelegation will be represented by federal ministers WolfgangClement and Dr. Manfred Stolpe.

Shanghai has two airports, including the new Pudunginternational airport. Shanghai registered double-digit growthin air traffic in 2001, with a total of 21.1 million passengersand 803,000 metric tons of airfreight. Take-offs and landings(aircraft movements) reached 194,400.

The Frankfurt-Shanghai cooperation will not involve anyfinancial investment. Instead, the cooperation involvesproviding the Chinese partners with Fraport's decades-longexpertise in managing and operating a major intercontinental hubairport as well as utilizing Frankfurt's experience in airportIPOs (initial public offering). An exchange of airportspecialists is also envisaged in the near future. Plans call forbringing together experts from both airport companies by thespring of 2003 to agree on concrete plans for the first airportprojects.

Before departing on his trip to China, Fraport's executiveboard chairman Dr. Wilhelm Bender emphasized that the plannedcooperation agreement with Shanghai underscores Frankfurt'sexcellent reputation in global aviation. "Indeed, airportinsiders consider FRA to be a brand product. We will doeverything possible to make this long-term strategic partnershipwith Shanghai a success. Of course, the Chinese market is ofcourse extremely interesting for every German company lookingbeyond Germany's border."

ots Original Text Service: Fraport AG Internet:http://www.presseportal.de

For More Information, Please Contact: Fraport AG FrankfurtAirport Services Worldwide Attn: Robert A. Payne - ManagerInternational Press 60547 Frankfurt am Main, Germany Tel.: +4969.690.78547 Fax: +49.69.690.60548 E-Mail:r.payne@fraport.de Internet: www.fraport.com

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