Fresenius Medical Care announces Change in Board of Management

Fresenius Medical Care AG ("the Company") (Frankfurt Stock Exchange: FME, FME3) (NYSE: FMS, FMS_p), the world's largest provider of Dialysis Products and Services, announces today that Dr. Ulf M. Schneider (37) is resigning his position as the Chief Financial Officer (CFO) of Fresenius Medical Care AG and will become Chairman of the Management Board of Fresenius AG, where he will succeed Dr. Gerd Krick (64). On March 7, 2003, the Supervisory Board of Fresenius AG unanimously appointed Dr. Ulf M. Schneider to be the Chairman of the Management Board of Fresenius AG. Dr. Schneider will assume his new position upon the conclusion of the Annual General Meeting of Fresenius AG on May 28, 2003.

Dr. Schneider's successor as Chief Financial Officer of Fresenius Medical Care AG has not been determined yet. Dr. Ben J. Lipps, Chief Executive Officer of Fresenius Medical Care AG, will temporarily assume responsibility for financial matters in the event that a new CFO has not been appointed until May 28, 2003.

Dr. Ben J. Lipps, CEO of Fresenius Medical Care AG, stated with respect to this appointment: "First of all, I would like to sincerely congratulate Dr. Gerd Krick, who will be moving to the Supervisory Board of Fresenius AG. I am particularly pleased by the fact that Dr. Krick will continue to be the Chairman of the Supervisory Board of Fresenius Medical Care AG. Fresenius Medical Care AG can continue to benefit from Dr. Krick's outstanding knowledge and experience in the field of health care and dialysis. I wish to thank Dr. Ulf M. Schneider for his outstanding contribution. With this step, the continuity of the cooperation is ensured."