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METRO AG Presents Corporate Governance Code to the Public

17.06.2002

METRO AG Presents Corporate Governance Code to the Public

Düsseldorf, 17 June 2002 – By publishing its own Corporate Governance Code METRO AG has further enhanced its policy of transparency. The company has committed itself to adhering to clearly defined principles of corporate management and control and has not only approved these principles but is one of the first Dax 30 companies to publish them in their entirety. Thus, METRO AG makes possible a verification of its Corporate Governance principles at any time. The Chairman and CEO of METRO AG, Dr. Hans-Joachim Körber, stressed on the occasion of the presentation of these rules how important a modern and transparent Corporate Governance framework was as a success factor in the competition of publicly quoted companies for the trust of investors in the national and international capital markets. "With these guidelines the company gives itself a practical set of rules for essential areas of its activities," said Körber. "Companies whose managements are guided by clear-cut Corporate Governance principles turn out to be particularly successful in the long-term increase of their corporate value. We take it for granted that the publication and implementation of our Corporate Governance Code will in the long run contribute to a fair market valuation of the Metro stock." The Corporate Governance rules also showed that transparency was a major element of the corporate culture in the Metro Group.

The Corporate Governance Code of METRO AG takes into consideration all mandatory recommendations contained in the German Corporate Governance Code published in February 2002. In addition to the fundamental shareholder rights it deals specifically with the responsibilities and tasks of the Executive Board and the Supervisory Board. Furthermore, the code regulates the cooperation between the two boards, their respective memberships and emoluments and also contains principles regarding transactions for the own accounts of Executive Board and Supervisory Board members and potential conflicts of interest. The Executive Board’s essential duties of disclosure are also listed. A policy of open, topical and continuous information, above all by way of the Internet pages of METRO AG, will – as provided in the code – be an important part of the measures to ensure transparency at METRO AG and to further increase the corporate value of METRO AG. The principles embodied in the METRO AG Corporate Governance Code will be further developed in line with practical demands and legal requirements.

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