Deutsche Lufthansa AG Approves New LSG Sky Chefs Holding Company

Business Wire, June 22, 2001

Business Editors

KRIFTEL, Germany--(BUSINESS WIRE)--June 22, 2001

LSG Sky Chefs International AG To Be Based In United States

LSG Lufthansa Service Holding AG, a wholly owned subsidiary of Deutsche Lufthansa AG, announced today that it will create a new holding company, LSG Sky Chefs International AG. The new holding company will be registered in Switzerland and managed by the recently appointed LSG Sky Chefs global executive board from headquarters offices in the United States. The new holding company was approved yesterday by the Deutsche Lufthansa AG supervisory board.

The announcement of the new holding company follows LSG Lufthansa Service Holding's June 1 acquisition of Onex Food Services, Inc., the parent company of Dallas-based Sky Chefs, Inc.

The creation of the new holding company and the decision to locate its headquarters in the United States represent important steps in the company's future plans for an initial public offering, according to Hanns Rech, LSG Sky Chefs chairman and chief executive officer.

The world's largest airline caterer, LSG Sky Chefs maintains over 200 flight kitchens around the world on all continents and provided 427 million flight meals last year. In 2000, all companies belonging to the LSG Group - including all minority interests - employed 41,700 people and recorded annual revenues of US $ 3.5 billion (EUR 3.7 billion.)