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Degussa Parent Company RAG Changes Structure, Name (posted 9/24/07)

September 24, 2007
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RAG recently split its industrial and coal mining operations and announced a name change to Evonik Industries AG, which will focus on the chemicals, energy and real estate businesses. The three former subgroups, Degussa, Steag and RAG Immobilien, have been united in Evonik, which is scheduled to go public in 2008. Mining operations will be continued under the name RAG and will not be connected with Evonik.

“Evonik is Germany’s creative industrial group for chemicals, energy and real estate,” said Werner Müller, Ph.D., chief executive officer of the entity previously operating under the name of RAG Beteiligungs-AG. “Our goal is to become one of the most creative industrial groups in the world. Our portfolio unites strong substance with attractive growth potential.”

Visit www.evonik.de for additional details.

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