Cargolux Appoints Ulrich Ogiermann As New CEO

Luxembourg, 29 November 2002 - On Thursday, November 28, the Board of Directors of Cargolux has appointed Mr. Ulrich Ogiermann, Senior Vice-President Sales and Marketing as new President of the Executive Committee and Chief Executive Officer of the company. The decision will come into effect on January 1, 2003.

Mr. Sietzen, the acting CEO, will assist the Executive Committee of Cargolux during a transitional period until April 1, 2003.

Mr. Ogiermann has been with Cargolux since 1998, when he joined from Lufthansa Cargo in Johannisburg where he had been in charge of operations in the Southern part of Africa.

Uli Ogiermann, born 1959, is married and has two children.

Cargolux Airlines International S.A. with head office in Luxembourg, is Europe’s largest all-cargo airline, operating a modern fleet of 12 B747-400 freighters on a world-wide network, with a 13th B747-400F on order for delivery in the second quarter of 2004, covering more than 90 worldwide destinations, over 50 of which are served on scheduled all-cargo flights. The company has 85 offices in over 50 countries and also offers an extensive trucking network to more than 50 destinations in Europe and the US, as well as charter and aircraft maintenance services. Cargolux employs 1342 staff worldwide.

Cargolux Airlines International S.A.
L - 2990 Luxembourg
Grand Duchy of Luxembourg

Phone: + 352 4211 1
Fax: + 352 4211 3692