EANS-News: Salzgitter AG announces exercise of greenshoe option in connection with the offering of senior unsecured bonds exchangeable into shares of Aurubis AG

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Capital measures/senior unsecured bonds

Salzgitter (euro adhoc) - Salzgitter, November 3, 2010

Not for publication or distribution in the United States, Australia,
Canada, Japan or South Africa

Salzgitter AG announces exercise of greenshoe option in connection
with the offering of senior unsecured bonds exchangeable into shares
of Aurubis AG

International Securities Identification Number (ISIN): DE000A1AYDS2
German Wertpapierkennummer (WKN): A1AYDS

In connection with the offering of senior unsecured bonds
exchangeable into existing ordinary bearer shares of Aurubis AG (the
"Bonds") by Salzgitter Finance B.V. and guaranteed by Salzgitter AG,
announced on 28 October 2010, Salzgitter AG announces that today the
greenshoe option granted to BofA Merrill Lynch, Commerzbank AG and
Deutsche Bank AG (the "Joint Bookrunners and Joint Lead Managers")
has been partially exercised and that, as a consequence, the issue
size of the Bonds has been increased by a further EUR20.5 million.
The aggregate principal amount of the offering therefore amounts to
EUR295.5 million.

In connection with the offering of the Bonds, Merrill Lynch
International acted as Stabilisation Manager. The stabilisation
period has been terminated with the partial exercise of the greenshoe
option to purchase additional Bonds to cover over-allotments. The
Stabilisation Manager has undertaken stabilisation transactions
starting on 29 October 2010, the date on which stabilisation last
occurred was 29 October 2010.

The price range within which stabilisation was carried out and each
of the dates during which stabilisation transactions were carried out
are set out in the following table:

Date Price Range
29 October 2010 99.85% - 100.00%

THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE. This
announcement constitutes neither an offer to sell nor a solicitation
to buy securities of Salzgitter Finance B.V., Salzgitter AG, Aurubis
AG or any other party. The securities have already been sold.

IMPORTANT NOTE - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (OR
TO US PERSONS), AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA, OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW

This press release is for information purposes only and does not
constitute or form part of, and should not be construed as an offer
or an invitation to sell, or issue or the solicitation of any offer
to buy or subscribe for, any securities. In connection with this
transaction there has not been, nor will there be, any public
offering of any securities. No prospectus will be prepared in
connection with the offering of the Bonds. The Bonds may not be
offered to the public in any jurisdiction in circumstances which
would require the Issuers of the Bonds to prepare or register any
prospectus or offering document relating to the Bonds in such
jurisdiction.

The distribution of this press release and the offer and sale of the
Bonds in certain jurisdictions may be restricted by law. Any persons
reading this press release should inform themselves of and observe
any such restrictions.

This press release does not constitute an offer to sell or a
solicitation of an offer to purchase any securities in the United
States. The securities referred to herein (including the Bonds and
the shares of Aurubis AG) have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act") or the laws of any state within the U.S., and may not be
offered or sold in the United States or to or for the account or
benefit of U.S. persons, except in a transaction not subject to, or
pursuant to an applicable exemption from, the registration
requirements of the Securities Act or any state securities laws. This
press release and the information contained herein may not be
distributed or sent into the United States, or in any other
jurisdiction in which offers or sales of the securities described
herein would be prohibited by applicable laws and should not be
distributed to United States persons or publications with a general
circulation in the United States. No offering of the Bonds is being
made in the United States.

Subject to certain exceptions, the securities referred to herein
(including the Bonds and the shares of Aurubis AG) may not be offered
or sold in Australia, Canada, Japan or South Africa to, or for the
account or benefit of, any national, resident or citizen of
Australia, Canada, Japan or South Africa. The offer and sale of the
securities referred to herein has not been and will not be registered
under the applicable securities laws of Australia, Canada, Japan or
South Africa.

In the United Kingdom, this press release is only being distributed
to and is only directed at (i) persons who fall within the meaning of
investment professional pursuant to Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") and (ii) high net worth entities falling within Article
49(2)(a)-(d) of the Order and (iii) persons to whom it would
otherwise be lawful to distribute it (all such persons together being
referred to as "relevant persons"). The Bonds are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such Bonds will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or
rely on this press release or any of its contents.

The Joint Bookrunners are acting on behalf of the Issuer and no one
else in connection with the Bonds and will not be responsible to any
other person for providing the protections afforded to clients of the
Joint Bookrunners, or for providing advice in relation to the
securities.

In connection with the offering of the Bonds, the Joint Bookrunners
and any of their respective affiliates acting as an investor for
their own account may take up Bonds and in that capacity may retain,
purchase or sell for its own account such securities and any
securities of the Issuer, Salzgitter AG or Aurubis AG or any related
investments and may offer or sell such securities or other
investments otherwise than in connection with the offering of the
Bonds. The Bookrunner does not intend to disclose the extent of any
such investment or transactions otherwise than in accordance with any
legal or regulatory obligation to do so.

Any offer if made may only be addressed to and directed, in member
states of the European Economic Area which have implemented the
Prospectus Directive (each, a "relevant member state"), at persons
who are "qualified investors" within the meaning of Article 2(1)(e)
of the Prospectus Directive (Directive 2003/71/EC) and pursuant to
the relevant implementing rules and regulations adopted by each
relevant member state ("Qualified Investors").

Each person who initially acquires any Bonds in connection with the
issuance or to whom any offer of securities may be made will be
deemed to have represented, acknowledged and agreed that it is a
Qualified Investor as defined above.

In the case of any securities being offered to any investor as a
financial intermediary as that term is used in Article 3(2) of the
Prospectus Directive, such investor will also be deemed to have
represented and agreed that the securities acquired by it in the
offering have not been acquired on behalf of persons in the EEA other
than Qualified Investors or persons in the UK and other member states
(where equivalent legislation exists) for whom the investor has
authority to make decisions on a wholly discretionary basis, nor have
the securities been acquired with a view to their offer or resale in
the EEA where this would result in a requirement for publication by
the Issuers, Salzgitter AG or the Joint Bookrunners of a prospectus
pursuant to Article 3 of the Prospectus Directive, unless the prior
consent of the aforementioned parties has been obtained to such offer
or resale.

end of announcement euro adhoc
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ots Originaltext: Salzgitter AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Markus Heidler

+49 (0) 5341/21-6105

heidler.m@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All
Share
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Berlin / free trade
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