Annual General Meeting – Kuehne + Nagel International

Logistics Asia - Industry News, 5/5/2008

AG Shareholders approve all proposals.

At the recent Annual General Meeting of Kuehne + Nagel International AG all proposals were approved by a clear majority. 70.7 per cent of voting shares were represented.

In his address, Klaus-Michael Kuehne, Executive Chairman of the Board of Directors of Kuehne + Nagel International AG, underlined the continued strong growth of the Kuehne + Nagel Group in 2007 and acknowledged the performance of the Management Board and staff worldwide, whose work delivered record results. Thanks to its global network and comprehensive service portfolio, Klaus-Michael Kuehne considers the company well positioned to cope with economic challenges and to maximize new business opportunities. Furthermore, recent appointments at Management Board level have reinforced Kuehne + Nagel’s capability to consistently and successfully pursue its growth strategies.

The shareholders approved the annual report, the financial statements and consolidated financial statements for 2007, and endorsed the Board of Director’s recommendation to increase the dividend to CHF 1.90 (previous year CHF 1.50). The dividend (42.2 per cent of consolidated net earnings) will be distributed today, May 5, 2008.

The Annual General Meeting granted discharge to the Board of Directors and the Management Board for the 2007 business year. Juergen Fitschen, a German citizen, was elected to the Board of Directors for a three-year term. He joined Deutsche Bank AG in 1987, and was promoted to the Group Executive Committee in 2002. He is
Global Head of Regional Management and, since 2004, also serves as Chairman of the Management Committee Germany.

Both Bernd Wrede and Hans Lerch were re-elected to the Board of Directors for three-year terms. Bruno Salzmann, long-time member and whose mandate expired with today’s Annual General Meeting, retired from the Board. Klaus-Michael Kuehne thanked Bruno Salzmann for his successful work. The Annual General Meeting extended its authorisation of approved capital of a maximum of CHF 20 million until April 30, 2010. This measure provides Kuehne + Nagel with the required flexibility to finance strategic investments.

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

The next Annual General Meeting will be held on May 13, 2009.

Kuehne + Nagel, www.kuehne-nagel.com