FRA/rap> Fraport AG welcomes the recent initiative of the Philippine government to clarify open issues relating to the NAIA Terminal 3 project in Manila. Fraport AG has continuously supported the building of the world-class terminal and has invested in good faith. The German airport operator is prepared to continue its support for the inauguration of the terminal. The Philippine president's statements declaring all contracts null and void has changed the basis for PIATCO, the local consortium in which Fraport AG holds 30 percent. Fraport has taken action and filed a collection claim for the repayment of a loan granted to PIATCO. This is part of Fraport's strategy to secure its investment. Fraport is in agreement with the Philippine government that the terminal should be opened as soon as possible, after all pending legal issues have been resolved.

For More Information, Please Contact:
Fraport AG Frankfurt Airport Services Worldwide
Attn: Robert A. Payne - Manager International Press
60547 Frankfurt am Main, Germany
Tel.: +49.69.690.78547 / Fax: +49.69.690.60548
E-Mail: r.payne@fraport.de / Internet: www.fraport.com