Analysts

Bank of America – Merrill Lynch	Goldman Sachs
Bankhaus Lampe	HSBC
Berenberg Bank	Independent Research
BHF Bank	JP Morgan
Cheuvreux	Kepler Equities
Citigroup	M.M. Warburg
Commerzbank	MainFirst
Credit Suisse	Metzler
Davy	NORD/LB
Deutsche Bank	Nomura
DZ-Bank	Steubing
Equinet	UBS
EXANE BNP Paribas	WestLB

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