PUBLICATION OF THE RESOLUTION TO UTILIZE THE AUTHORIZATION TO REPURCHASE SHARES, PUBLICATION OF THE PROGRAM FOR SUCH REPURCHASE

The Managing Board of voestalpine AG has resolved to utilize the authorization granted by the 11th annual General Meeting of the company on July 1, 2003 to effect a repurchase of stocks covering up to 1,000,000 of the Company's ordinary bearer shares and corresponding to approximately 2.5 % of the company's share capital. This resolution is hereby being pursuant to Art 65 Para. 1a of the AktG (Join Stock Corporation Act) and Art 82 Para 9 of the BörseG (Stock Exchange Act) in conjunction with Art 4 Para. 2 of the Publications Act (BGBl II 2002/112).Furthermore, publication of the repurchase program is undertaken in accordance with Art. 65Para. 1a of the AktG (Joint Stock Corporation Act) and Art. 82 Para. 9 of the BörseG (Stock Exchange Act) in conjunction with Art. 5 of the Publications Act (BGBl II 2002/112).

1. Date of the Resolution of the General Meeting regarding the authorization pursuant to Art. 65 Para. 1 Section 4 und Section 8 of the AktG (Joint Stock Corporation Act): 1st July 2003.
2. Date and method of publication of the Resolution of the General Meeting pursuant to Art.65 Para.1a of the AktG (Joint Stock Corporation Act): Amtsblatt zur Wiener Zeitung of the 4th July 2003.
3. Commencement and anticipated duration of the repurchase program: 17th May 2004 until 31st December 2004 at the latest.
4. Class of shares to which the repurchase program applies: voestalpine AG"s ordinary bearer shares (uniform class of shares).
5. Intended volume (in shares) of the repurchase of the company"s own shares: up to 1,000,000 of voestalpine AG"s ordinary bearer shares, i.e. up to 2.5 % of voestalpine AG"s share capital.
6. Minimum equivalent value upon repurchase: EUR 15, Maximum equivalent value upon repurchase: EUR 50.
7. Manner and purpose of repurchase of own shares: The repurchase of voestalpine AG"s shares by virtue of this repurchase program shall take place via the Vienna Stock Exchange. It is planned that the shares thus acquired will be used for the 2001 Stock Option Program of voestalpine AG as well as for improving demand in shares of voestalpine AG. A report on this Stock Option Program 2001 of voestalpine AG was published in the Amtsblatt zur Wiener Zeitung No. 115 on June 18th, 2001. Voestalpine AG reserves the right also to use the repurchased shares for other purposes (within the meaning of Art. 65 Para. 1 Section 8 AktG) or to resell them. This repurchase program will not be connected with the redemption of shares. However, trading with own shares for profit-making purposes is excluded.
8. Any effect on the issuer of the repurchase program on the admission of securities to the stock exchange: none.
9. Extent of the share options currently being granted within the framework of the Stock Option Plan 2001 of voestalpine AG to leading executive officers or members of the Managing Board of the issuer: Altogether 149 persons are taking part in the Stock Option Program 2001. To these persons, a total of approx. 1.1 million options for the taking-up of one share each were issued. Details of the 2001 Stock Option Plan of voestalpine AG were published in the Amtsblatt der Wiener Zeitung No. 115 of June 18, 2001. voestalpine AG shall fulfill its duties of publication pursuant to Arts. 6 and 7 of the Publications Act by publishing information on voestalpine AG"s Internet website at www.voestalpine.com under "Repurchase program".

Linz, this day, 12th of May 2004

The Managing Board