Ad-hoc News

New Executive Board member; Changes to the Supervisory Board

Mr. Dieter Silmen has been appointed to the Executive Board of Baader Wertpapierhandelsbank AG with effect from August 1, 2003. Mr. Silmen will be responsible for specialist activities and institutional sales.

Mr. Peter Schemuth has resigned from the Supervisory Board and has been replaced by Dr. Norbert Juchem. Mr. Rainer Merklinghaus has been elected to the Board as an employee representative.

The Executive Board - Notes:

As of August 1, 2003, the Executive Board of Baader Wertpapierhandelsbank AG will comprise the following members:
Uto Baader, Chairman of the Executive Board, responsible for corporate
strategy, IT/organization, legal, internal audit, compliance
Dieter Brichmann, responsible for financial control, human resources,
accounting, risk control, corporate communications, securities settlement
Stefan Hock, responsible for issues and equity investments
Dieter Silmen, responsible for specialist activities, institutional sales

The Supervisory Board comprises the following members:
Dr. Horst Schiessl, Chairman
Dr. Christoph Niemann, Deputy Chairman
Josef Faltenbacher
Dr. Norbert Juchem
Rainer Merklinghaus (employee representative)
Thomas Wiegelmann (employee representative)