Siemens Makes Management Changes

Klaus Kleinfeld has been appointed Deputy Chairman of the Managing Board of Siemens AG effective August 1, 2004.

A proposal will be made at the Annual Shareholders’ Meeting on January 27, 2005, that Heinrich v. Pierer be elected to the Supervisory Board of Siemens AG. He is to succeed Karl-Hermann Baumann, who will step down at the end of the Meeting. Klaus Kleinfeld will then take over as President and Chief Executive Officer.

Thomas Ganswindt and Rudi Lamprecht will become members of the Corporate Executive Committee of Siemens AG as of October 1, 2004.

At the same time, the IC Networks and IC Mobile Groups will be merged to form the Siemens Communications Group. The Group’s new board will comprise Lothar Pauly (President), Thorsten Heins, Michael Kutschenreuter, Andy W. Mattes and Anton Hendrik Schaaf.