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Analysts

Bank of America – Merrill Lynch	Kepler Equities
Bankhaus Lampe	Landesbank Baden-Württemberg
BHF Bank	MainFirst
Cheuvreux	Merck Fink
Citigroup	Metzler
Commerzbank	Nomura
Credit Suisse	NORD/LB
Deutsche Bank	Sal. Oppenheim
DZ-Bank	SRH – Alster Research
Equinet	Steubing
EXANE BNP Paribas	UBS
Goldman Sachs	UniCredit
HSBC	WestLB
JP Morgan

Investment Recommendation

Financial analysts and the business press make regular analyses of the economic climate and the financial reports and development in business at Salzgitter AG and pronounce their investment recommendations. The Investor Relations department of Salzgitter AG monitors these continuously and offers assessments on the basis of an internal database.

Sell	Marketperform	Buy
Price Change > -5%	Price Change < +/-5%	Price Change > +5%
Marketunderperformer	Halten	Accumulate
Reduce	Hold	Add
Reduzieren	In-Line	Akkumuliert
Sell	Marketperformer	Aufstocken
Underperformer	Neutral	Buy
Unterdurchschnittlich		Kaufen
Underweight		Marketoutperformer
Verkaufen		Outperformer
		Recommended Stock
		Strong buy