Chairman of the management board Thomas Fahnemann to leave company and to assume chairmanship of the management board of RHI AG.

Thomas Fahnemann, chairman of the management board of Lenzing AG since May 2003, has asked the chairman of the company’s supervisory board for his pre-term release from his position, in order to be able to assume the chairmanship of the management board of RHI AG. Thomas Fahnemann’s change will take place at the beginning of 2009 at the earliest. It requires the approval of the supervisory boards of both companies.

Hermann Bell, chairman of the supervisory board of Lenzing AG, has expressed his regret concerning Thomas Fahnemann’s request for pre-term release from his position: “Thomas Fahnemann as the chairman of the management board has played a decisive role in making Lenzing AG the world market leader in innovative cellulose fiber products and a company which even under the current difficult economic conditions presents itself as a sustainable, stable and profitable enterprise. We very much regret Thomas Fahnemann’s decision to leave Lenzing AG. We will do our best to find a suitable successor as fast as possible. We wish Thomas Fahnemann all the best and the best of success in his future position.“