Optimism in Turbulent Times - Bender: "Fraport AG Maintains Its Position in 2001 Despite Difficult Market Conditions"

Dividends Despite 2001 Crisis - Stable Results Announced forCurrent Year

FRANKFURT 26. 6. 2002 (Germany) (ots/PROTEXT) - Speaking atthe company's first regular Annual General Meeting (AGM) today,Fraport AG's executive board chairman, Dr. Wilhelm Bender, urgedshareholders "to look into the future with confidence andoptimism." The AGM was held at the Jahrhunderthalle in Frankfurt-Hoechst. Bender also said, "We have efficient structures and theright concepts to make our business even more profitable inFrankfurt and around the world."

Bender stressed that the 2001 business year was characterizedby extremely difficult market conditions. In that context, hereferred to the Lufthansa pilot strike, the sluggish worldeconomy, and the 9/11 terrorist attacks. "Nevertheless, we haveperformed well both in terms of traffic figures and operatingresults."

Passenger traffic at Frankfurt Airport (FRA) declined by only1.6 percent in 2001. Thus, Frankfurt was able to strengthen itsposition as the seventh largest airport in the world. Despite thecrisis in the aviation industry, Fraport's revenues grew aboutthree percent to nearly Euro 1.6 billion. Consolidated profitsfor fiscal 2001 reached Euro 101.1 million. A dividend payment ofEuro 0.40 per share was recommended at the AGM.

With its initial public offering (IPO) in June 2001, FraportAG was the first airport company in Germany to become listed onthe stock exchange. "Of course, we are not satisfied with thedevelopment of our share price during the year and with thecurrent share level," said Bender. With the consistentimplementation of our business strategy, however, the share pricewill develop positively. "Many analysts still consider Fraportshares to be undervalued."

Bender explained that Fraport AG's business model is based onthree pillars: consolidation at Frankfurt Airport, ongoingdevelopment at Frankfurt Airport, and external business. He saidthe demand-driven expansion of FRA "is of crucial importance forthe future of both Fraport and the Frankfurt/Rhine-Main region."Only by expanding Frankfurt Airport's runway capacity will it bepossible to prevent the threatening loss of FRA's function as ahub for Lufthansa and the Star Alliance.

Investing in Frankfurt-Hahn Airport in the Hunsrück regionwest of Frankfurt, Bender elaborated, is not a substitute forexpanding capacity at our main airport (FRA) in Frankfurt amMain. Fraport's chairman also reported on the company's currentinternational projects, for example in Antalya (Turkey) and Lima(Peru). Regarding the Manila project, he said that irrespectiveof financial issues, construction of the new terminal is at anadvanced stage and on schedule. "The exact opening date of theterminal depends on further progress in negotiations. We continueto believe that our talks will lead to positive results and,thus, will allow for the project's long-term success."

Bender announced that Fraport's earnings before interest,tax, depreciation and amortization (EBITDA) for the currentbusiness year, would reach at least Euro 500 million. "In view ofthe overall situation in the aviation industry and the difficultyof forecasting this year, we consider this to be a specialsuccess on our part."

ots Originaltext: Fraport AG Im Internet recherchierbar: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.: +49 69690 -78547 Fax: +49 69 690 -60548 E-Mail: r.payne@fraport.deInternet: www.fraport.com Subscribers please note that material bearing the slug"PROTEXT" is not part of CTK's news service and is not to bepublished under the "CTK" slug. Protext is a commercial serviceproviding distribution of press releases from clients, who areidentified in the text of Protext reports and who bear fullresponsibility for their contents. APROTEXT