Annual General Meeting of Kuehne + Nagel International AG

At today’s Annual General Meeting of Kuehne + Nagel International AG, 66.7 per cent of voting shares were represented. Due to the increased number of shareholders, the Meeting was for the first time held at the Seedam Plaza Hotel in Pfäffikon. All proposals were approved by a clear majority.

In his address, Klaus-Michael Kuehne, Executive Chairman of the Board of Directors of Kuehne + Nagel International AG, expressed his pleasure about the new record results that the Kuehne + Nagel Group delivered for 2005. Highlighting the key factors contributing to the company's sustained business success, he mentioned its global logistics network, its comprehensive and customer-orientated product portfolio, its dedicated staff committed to the highest quality standards, and its corporate culture, which is based on performance orientation, teamwork and a passion for success.

The Executive Chairman went on to comment on the rapid increase of the company’s share price. Within a period of less than eight months, i.e. between the last stock exchange transaction in October 2005 and the end of April 2006, the company’s shares gained approximately 52 per cent – a confirmation of investors’ growing interest in Kuehne + Nagel.

Chief Executive Officer Klaus Herms illustrated the performance of the individual business fields and concluded that the integrated logistics business model is a growth driver.

The shareholders approved the Annual Report, the Financial Statements and the Consolidated Financial Statements for 2005, and followed the Board of Directors’ recommendation to increase the dividend to CHF 5.50 (previous year CHF 4.50). The dividend (40.9 per cent of the consolidated net income) will be distributed on May 8, 2006.

The shareholders then granted discharge to the members of the Board of Directors and the Management Board for the business year 2005.

Dr. Joachim Hausser, Dr. Willy R. Kissling, Klaus-Michael Kuehne, Dr. Georg Obermeier and Dr. Thomas Staehelin stood for re-election and were each confirmed for a further three-year term. Professor Dr. Otto Gellert and Dr. Alfred Pfeiffer, both longtime members of the Board of Directors and whose respective tenures expired with today’s Annual General Meeting, retired from the Board of Directors. Klaus-Michael Kuehne thanked both gentlemen for their successful work as members of the Board of Directors of Kuehne + Nagel International AG.

The shareholders approved the proposed 1:5 split of registered shares and the corresponding increase in the number of Kuehne + Nagel shares. At the same time, the nominal value per share relating to approved share capital and conditional share capital was also lowered from CHF 5 to CHF 1.

The Annual General Meeting extended its authorisation of approved capital up to a maximum of CHF 20 million by a further two years. This measure provides Kuehne + Nagel with the required flexibility to finance strategic investments.

KPMG Fides Peat, Zurich, was confirmed as the statutory and Group auditor for a further year.



The next Annual General Meeting will be held on May 4, 2007.