AirTrust holds 98.7 per cent of SWISS share capital

23 June 2005

Public purchase offer a success

Lufthansa and the Almea Foundation now hold 98.7 per cent of the share capital of Swiss International Air Lines Ltd. via the Swiss-domiciled AirTrust AG following the expiration of the grace period for the present public purchase offer. Contractual undertakings to sell their SWISS shares have been obtained from major shareholders accounting for 84.6 per cent of SWISS share capital; and minority shareholders representing a further 14.1 per cent of SWISS share capital have offered to sell their shares to AirTrust under the present share offer.

AirTrust submitted a public tender offer to all SWISS minority shareholders on May 4, 2005. By the end of the grace period following the initial offer period on June 22, 2005, AirTrust had been offered for purchase a total of 7,561,226 SWISS shares, representing 91.2 per cent of the 8,291,248 SWISS shares held by minority shareholders at the end of the grace period.

The shares offered will be purchased at the offer price of CHF 8.96 net per share, subject to and following the approval of Lufthansa’s proposed acquisition of SWISS by the EU competition authorities.

Having secured 98.7 per cent of SWISS share capital by the end of the public offer, AirTrust now holds more than the minimum number of SWISS shares required to initiate a “squeeze-out” procedure to obtain the remaining shares. Thus, once Lufthansa’s acquisition of SWISS has been approved by the EU competition authorities and the public purchase offer has been completed, AirTrust will effect this squeeze-out against a cash compensation to acquire the remaining publicly-held SWISS shares.

For further questions please contact:

Deutsche Lufthansa AG
Corporate Communications
Phone+49 69 696 – 2999
Fax+49 69 696 – 95428

Swiss International Air Lines Ltd.
Corporate Communications
Phone +41 848 773 773

This media release does not constitute either an offer to sell or an invitation to purchase securities.

This media release and the content thereof are not intended for communication to or within the United States of America (hereinafter referred to as “the USA”).

This media release does not constitute an offer to sell securities to Deutsche Lufthansa AG in the USA. Securities may only be sold or offered for purchase in the USA after prior registration under the provisions of the currently-valid version of the US Securities Act of 1933 or, without such prior registration, only on the basis of exemption therefrom.

This media release is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in investment matters as defined in Article 19 (5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (in its currently-valid version) (hereinafter referred to as “the Order”) or (iii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc”) of the Order (all such persons together being hereinafter referred to as “relevant persons”). This media release and the content thereof must not be acted upon or relied upon by persons who are not relevant persons as defined above.