INTERIM REPORT JANUARY 1 MARCH 31, 2004

INTERIM REPORT JANUARY 1 MARCH 31, 2004 U1

GROUP KEY DATA Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2004 2003 Change e million e million in % Sales 610.2 586.9 4.0 Profit EBITA 1) 66.5 58.4 13.9 EBITA margin in % 10.9 9.9 DVFA/SG income 29.2 21.7 34.6 Net income 25.0 19.1 30.9 Cash flow from operating activities 44.8 69.7 35.7 Capital expenditure 28.6 40.0 28.5 Balance sheet total 2) 2 196.9 2 182.8 0.6 Share in c DVFA/SG earnings per share 3) 0.95 0.64 48.4 Closing price 4) 86.50 42.50 103.5 Number of employees Average 11 489 11 808 2.7 1) Before extraordinary items 2) As of March 31, 2004 and December 31, 2003 3) Calculation basis: 30.6 million shares in Q1/2004 (excluding own shares) 34.0 million share in Q1/2003 4) As of March 31, 2004 and March 31, 2003 EBITA/EBITA margin in c million Net income in c million 75 10.9% 30 9.9% 50 20 25 10 0 Q1 2003 Q1 2004 0 Q1 2003 Q1 2004 EBITA EBITA margin 1

INTERIM REPORT Axel Springer Konzern In the first quarter of 2004, Axel Springer improved EBITA from c 58.4 million to c 66.5 million, despite the ongoing weak economic and market situation. Net income increased from c 19.1 million to c 25.0 million. This profit upturn was achieved by increasing sales from c 586.9 million to c 610.2 million with ongoing cost discipline. Both retail and advertising revenues were up year-on-year. Assuming a recovery of the advertising markets, the Management Board expects that there will be a slight sales increase in the financial year 2004 against 2003. Nevertheless, the company would accept EBITA 2004 being below that of the previous year due to the launch of new newspapers and magazines. ECONOMIC ENVIRONMENT There was no resounding revival of the economy in the first quarter. Adjusted for the number of calendar days, general economic growth was up 0.5% on the equivalent period of the previous year. While incoming orders from abroad were still negatively impacted by the appreciation of the euro, recent incoming order statistics indicate stimulus from the domestic economy. The tax reductions at the beginning of 2004 only gave a temporary lift to private consumption. The inflation rate increased slightly to 1.1% in March. Advertising market stabilizes According to Nielsen Media Research, gross advertising sales of classical media (excluding classified ads) posted considerable growth over the figures of same quarter of the previous year with a rise of 7.0%. However, the net development was considerably more modest due to ongoing pressure on conditions. Gross advertising spending of brand manufacturers and services company as well as the large retail chains (including media advertising) totaled a 4.1 billion. Gross advertising expenditure increased primarily due to activities in the IT/communication area (+ 47.4%), the finance sector (+ 33.2%) as well as beverages (+ 19.6%), personal hygiene (+ 16.6%) and discount stores (+ 9.7%). In contrast, however, gross advertising expenditure was considerably reduced in the pharmaceutical ( 9.9%), home and gardening ( 12.0%), and car market ( 1.8%) areas, as well as in the energy ( 43.9%) and photography and optics ( 35.6%) sectors. In the print media (without classified ads), gross revenues from the advertising business increased by 8.2% to a 2.1 billion (gross) in the first three months. In contrast, classified ads in newspapers deteriorated slightly in the first three months. For newspaper advertisements (without classified ads), companies spent a gross figure of a 1.1 billion (+ 12.6%) in the reporting period. One reason for the positive development was the continuing strong advertising measures of discount stores. This development was overshadowed by the negative trend in the classified ads business, which continued to negatively impact newspaper revenues: There was a double-digit decline for employment ads in the first two months of the year. Advertising volumes for classified ads relating to cars, family and events also declined. 2

Gross advertising revenues for general interest magazines increased by 4.2% to a 881 million, however these increases do not reflect significantly poorer development of net revenues. Gross advertising revenues for electronic media increased by 6.0%. While television advertising revenues increased by 6.8% to a 1.7 billion, radio advertising revenues were almost unchanged on the figure of the previous year, increasing by 0.5% to a 220 million. Poster advertising expanded its revenues by 2.6% to a 121 million. Retail press markets continue to decline Restrained demand also was evident in the retail press markets. Net paid circulation for newspapers and magazines declined by 4%. Across the industry, press sales were down 1% yearon-year. Price increases were successfully implemented, particularly for newspapers. In the mass segments of the magazine market with its fierce price competition, the scope for pricing policy remained extraordinarily limited. In spite of the overall weak market situation, variety in the magazine area increased further, including special issues. With an unchanged number of daily and Sunday newspapers registered with the circulation organization IVW of 381, total sales declined by 2.4% to 26.3 million copies. At 4.9%, circulation was down more strongly for newsstand sales than the 1.7% decline in subscriptions. The number of general-interest magazines registered with IVW increased by 8 to 811. At 125.7 million copies per issue, total sales were stable (+ 0.1%). The 2.0% downturn in newsstand sales was offset by gains of 1.8%, partly due to new membership magazines. BUSINESS DEVELOPMENT In the first quarter of 2004, Axel Springer increased EBITA from a 58.4 million to a 66.5 million and net income from a 19.1 million to a 25.0 million despite the weak general economic situation. The company generated a year-on-year increase for both retail revenues and advertising revenues. Ongoing cost management also contributed to the improved profits. As at the beginning of 2004, Axel Springer continued the expansion process. In Germany, the company launched the biweekly TV guide TV DIGITAL in March. Outside Germany, two new licensed editions were published, AUTO- BILD EESTI in Estonia and AUTOBILD SUOMI in Finland. Axel Springer Russia prepared to launch the Russian licensed publication of the American business magazine FORBES. The construction of the new office and business premises in Berlin was concluded as scheduled. Axel Springer opened the new building with the Ullstein-Halle and the Axel-Springer- Passage on January 13. Bundling central group management and service functions at the main office in Berlin was continued with the objective of achieving further improvements in efficiency. 3

Newspapers The outstanding importance of BILD as an advertising vehicle was confirmed by considerable sales increases in the national advertising business. The retail trade uses the sales strength of the newspaper in the current competition for market share. With a circulation of approximately 3.8 million, BILD as pure-play newsstand newspaper did not remain unaffected by the palpable consumer restraint in the press market. With a circulation of over 2 million, BILD am SONNTAG remained unchallenged market leader for Sunday newspapers. Despite predominantly negative trends in the general market, the positive year-on-year development in the advertising area continued. The turnaround achieved in the advertising market in 2003 also continued. On the difficult Berlin retail market, BERLINER MOR- GENPOST slightly improved its position of the previous year, with over 152 000 copies. At roughly 238 000 copies, B.Z. posted circulation figures just under those of the previous year, but gained ground in comparison to regional tabloids. Both newspapers were negatively impacted by the ongoing difficult situation in the classified ads business. With an almost unchanged circulation of 350 000 on Saturday, HAMBURGER ABENDBLATT underscores its importance as a classified ads market place for readers. At SPORT BILD, an editorial realignment and a marketing campaign in combination with increasing circulation to 466 000 copies led to a considerable growth in advertising. DIE WELT also exceeded advertising revenues on a yearon-year basis. With WELT am SONNTAG, the good reach figures of the last decision-making reader analysis (+ 8% year-on-year) boosted advertising revenues against the comparative period of the previous year. With circulation of approximately 402 000, WELT am SONNTAG confirmed its position as the largest German quality Sunday newspaper. Newspapers in Germany Net paid circulation, IVW, average Q1/2004 BILD 3 781 313 BILD am SONNTAG 2 036 054 SPORT BILD 465 803 DIE WELT 202 671 WELT am SONNTAG 401 744 HAMBURGER ABENDBLATT 283 424 BERLINER MORGENPOST 152 257 B.Z. 237 541 B.Z. am SONNTAG 128 410 4

Magazines in Germany Net paid circulation, IVW, average Q1/2004 HÖRZU 1 787 533 FUNK UHR 963 726 TV NEU 319 383 BILDWOCHE 333 477 BILD der FRAU 1 365 836 FRAU von HEUTE 506 758 JOURNAL für die FRAU 332 568 JOLIE 307 252 ALLEGRA 248 308 COMPUTER BILD 949 888 COMPUTER BILD SPIELE 678 236 AUDIO VIDEO FOTO BILD 658 254 AUTO BILD 718 420 AUTOMOBIL TEST 98 929 AUTO BILD ALLES ALLRAD 70 144 AUTO BILD MOTORSPORT 74 180 AUTO BILD TEST & TUNING 50 923 EURO am SONNTAG 114 267 FINANZEN 110 699 MAXIM 250 071 FAMILIE&CO 216 934 SPIELEN und LERNEN 111 126 POPCORN 315 311 YAM! 257 985 MÄDCHEN 204 421 STARFLASH 142 446 MUSIKEXPRESS 62 229 ROLLING STONE 62 539 METAL HAMMER 50 439 Magazines In the first quarter, Axel Springer successfully continued its expansion process in and outside of Germany. The launch of TV DIGITAL in Germany marked the successful entry into the market for fortnightly TV guides. TV DIGITAL is the first TV guide specially developed for digital television. With its 2 in 1 Concept, TV DIGITAL not only provides information on the 37 free channels, but also on the roughly 30 Premiere channels, as well as other digital television offerings. Premiere Fernsehen GmbH & Co. KG is the strategic partner of TV DIGITAL. The COMPUTER BILD Group further consolidated its market leadership. COMPUTER BILD increased its circulation year-on-year by 3.1% to approximately 950 000 copies. This makes COMPUTER BILD by far the largest computer magazine in Europe. With net paid circulation of over 658 000, AUDIO VIDEO FOTO BILD became the European market leader the first time it was included in the IVW report on circulation. For the press retail business, AUDIO VIDEO FOTO BILD has been the largest monthly producer of sales since its launch. Since February, AUTO BILD Europe s largest newsstand car magazine has appeared with an extended editorial section and a revised appearance. Also new is the eight-page AUTO BILD Wochenschau. Net paid circulation developed in a positive fashion and, at over 718 000 copies, is ahead on the equivalent period of last year. The weekly woman s magazine, FRAU von HEUTE, launched in April 2003, posted a further improvement in net paid circulation to 507 000 despite a price increase per copy. 5

International activities The Polish daily FAKT launched in October 2003 was crowned Medium of the Year 2003 by the Polish media service Impact and New Launch of the Year by the media consulting company Eskadra. In the first quarter, FAKT increased its circulation to over 500 000 copies, thus improving its position as the largest Polish daily. FAKT now has 3.5 million readers. In France competition has intensified on the market for TV guides, in which Axel Springer is represented by TÉLÉ MAGAZINE. The first fortnightly TV guide appeared in January. No statement can currently be made as to the long-term impact of the initial success of the fortnightly magazines on the established TV guide TÉLÉ MAGAZINE. Since March, there have been two new licensed editions for AUTO BILD, AUTO BILD EESTI in Estonia and AUTO BILD SUOMI in Finland. With a total of 19 editions, AUTO BILD is the German magazine brand with the most international editions. In the first quarter, Axel Springer Russia prepared the launch of its first magazine, the Russian edition of the American business magazine FORBES was launched on April 15, and its progress has been highly encouraging. The license was granted by Forbes Inc. Electronic media In March, BILD.T-ONLINE.DE achieved 307 million page impressions, further extending its market leadership. Media- Markt was gained as a new cooperation partner for the popular product promotions of BILD.T-ONLINE. DE. With Media- Markt, the successful popular promotions of were implemented, for notebooks and for LCD televisions. Furthermore, BILD.T-ONLINE.DE introduced Lucky Tuesday, the prize game already established in BILD. In the first quarter, AUTOBILD.DE posted the highest number of hits since its launch in 1996. From the start of the year, AUTOBILD.DE upped the range from 10 to 30 million page impressions. In the last quarter, IMMONET.DE further consolidated its position as one of the leading real estate portal providers in Germany. Two exclusive cooperation agreements were concluded to extend the network at a regional level: In Mecklenburg-Western Pommerania with MVWeb, in Saxony, Saxony- Anhalt and Thuringia with Wohnfinder, the leading regional real estate portal in Eastern Germany. Schwartzkopff TV Productions GmbH, a 100% equity holding of Axel Springer AG, has been successfully producing the folk must format Lustige Musikanten as prime time program for the ZDF since the beginning of the year. Printing and Logistics The modernization of the offset printing facility in Ahrensburg was continued on schedule in the context of the extensive reinvestment program. Despite the ongoing weak general economic situation, the contract printing volume for gravure printing was increased against the previous year. Since January 2004, Der Tagesspiegel is produced in the Spandau printing house. The focus in the logistics and retail area was on preparations for opening up new distribution channels. The target is to acquire not only discount stores, but also further retail segments. 6

FINANCIAL SITUATION Sales Despite a continued difficult market situation, Axel Springer generated a sales increase from a 586.9 million to a 610.2 million in the first quarter of 2004. This was due to the impact of the price increases made and the positive development of the international publications, some of them established in 2003. Advertisement sales rose slightly by a 4.4 million (+ 1.9%) to a 236.8 million. Retail revenues posted an increase of a 14.4 million (+ 5.2%) to a 293.0 million. Miscellaneous sales rose by a 4.5 million (+ 5.8%) to total a 80.4 million. Sales generated outside of Germany increased by a 7.6 million (+ 10.1%) to a 83.6 million. Axel Springer now posts 13.7% of sales abroad (previous year: 12.9%). Newspaper sales were a 20.4 million higher (+ 6.2%) to a 348.1 million. Advertising revenues increased by a 7.5 million (+ 4.5%) to a 175.7 million. Important factors here were the positive development of BILD and BILD am SONNTAG as well as DIE WELT and WELT am SONNTAG. Retail revenues of newspapers were a 172.4 million, a 12.9 million (+ 8.1%) higher than in the previous year. This is chiefly due to the positive development of BILD and HAMBURGER ABENDBLATT. Sales by sectors Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2004 2003 Change e million e million in % Distribution 293.0 278.6 5.2 Advertisement 236.8 232.4 1.9 Miscellaneous 80.4 75.9 5.8 Total 610.2 586.9 4.0 Sales by segments Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2004 2003 Change e million e million in % Newspapers 348.1 327.7 6.2 Magazines 181.7 183.3 0.9 Printing 30.7 28.1 9.3 Electronic Media 17.0 13.8 23.2 Other revenues 32.7 34.0 3.8 Total 610.2 586.9 4.0 7

Magazine sales deteriorated slightly by a 1.6 million ( 0.9%) to a 181.7 million. At a 61.1 million, advertisement sales were down by a 3.1 million ( 4.8%) year-on-year. The positive advertising revenues trend in the area of car and computer magazines as well as SPORT BILD was able to offset the slide in advertising business at the women s magazines and TV guides. At a 120.6 million, retail revenues were up a 1.5 million (+ 1.3%) on the equivalent figure of the previous year. The main reason for this is the success of the computer magazines and the new magazines AUDIO VIDEO FOTO BILD and TV DIGITAL. Sales in Electronic Media were a 3.2 million higher (+ 23.2%) at a 17.0 million. Sales in the Printing segment posted a slight rise to a 30.7 million (+ 9.3% year-on-year). Other revenues totaled a 32.7 million, down a 1.3 million ( 3.8%) on the first quarter of 2003. Profit In the first quarter 2004, Axel Springer improved EBITA from a 58.4 million to a 66.5 million. This excludes extraordinary items from streamlining the portfolio of a 5.1 million (previous year: a 13.0 million). Net income increased from a 19.1 million to a 25.0 million. DVFA/SG income increased from a 21.7 million to a 29.2 million. The higher sales generated and ongoing cost management achieved this rise in profits. This was countered to some extent by the start-up costs of the expansion process, which negatively impacted particularly the EBITA of the magazine division. Total expenses (before taxes and goodwill amortization) rose disproportionately compared to sales, by a 12.3 million (+ 2.2%) to a 575.1 million. Capital expenditure In the first quarter of 2004, Axel Springer invested a 28.6 million (previous year: a 40 million). With a 27.0 million capital expenditure related primarily to tangible assets (previous year: a 36.7 million). The focus of investment activities was the extension of the offset printing facility in Ahrensburg and the construction of the Berlin office and business premises. Investments in intangible assets were a 1.0 million (previous year: a 3.0 million), investments in financial assets a 0.6 million (previous year a 0.3 million). Depreciation and amortization (without goodwill amortization) totaled a 19.3 million (previous year: a 19.6 million). Net liquidity The total of the cash flows from operating, investment and financing activities of a 12.1 million were transferred to the funds. As of March 31, 2004, this totaled a 311.4 million. With loan liabilities of a 196.4 million, Axel Springer closed the quarter with net liquidity of a 115.0 million. As of December 31, 2003, net liquidity was a 99.4 million. EMPLOYEES In the first quarter of 2004, Axel Springer employed an average number of 11 489 people (without trainees and interns), 319 fewer than in the equivalent period of the previous year. As of April 1, 2004, the number of employees was 11 471 (previous year: 11 772). 8

SHARE The price of the Axel Springer share at the beginning of the year was a 70. During the course of the quarter, the share outperformed the MDAX and closed at a 86.50 (previous year: a 42.50) on March 31, 2004. The DVFA/SG earnings per share were a 0.95 after a 0.64 in the previous year. Share performance Index January 2, 2004 = 100 OUTLOOK It is expected that the global economic upturn in 2004 will gradually spread to the Germany economy. Provided that the euro does not experience a further appreciation, exports will expand much more quickly than in the last two years. In view of favorable financing conditions and low wage increase, the general situation for investors is positive. Corporate sales expectations have improved in recent months. For the whole of 2004, the current forecast is for 1.5% growth of the gross domestic product. A sustained improvement in the advertising market is not yet certain. Industry experts ascribe the growth in the first quarter as being largely due to the weak previous year. Gross advertising expenditure of the traditional media in Germany is expected to increase by 2% to 3% for the year as a whole. January 04 March 04 140 130 120 Assuming a recovery of the advertising markets, the Management Board expects that sales for the whole of 2004 may well be slightly higher than in 2003. Nevertheless, the company would accept EBITA 2004 being below that of the previous year due to the launch of new newspapers and magazines. 110 100 90 80 Axel Springer AG MDAX 9

INTERIM FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEETS Assets Mar. 31, 2004 Dec. 31, 2003 e 000 e 000 A. Fixed assets I. Intangible assets 154 214 161 160 II. Tangible assets 1 044 346 1 034 565 III. Financial assets 92 069 88 785 1 290 629 1 284 510 B. Current assets I. Inventories 53 306 50 341 II. Accounts receivable and other assets 346 524 356 940 III. Securities 1) 189 132 189 104 IV. Cash and cash equivalents 306 822 294 807 895 784 891 192 C. Prepaid expenses 10 537 7 081 2 196 950 2 182 783 Stockholders equity and liabilities Mar. 31, 2004 Dec. 31, 2003 e e 000 A. Stockholders equity I. Subscribed capital 102 000 102 000 II. Revenue reserves 618 978 618 967 III. Consolidated retained earnings 80 891 80 891 IV. Consolidated net income 24 848 0 V. Minority interests 4 241 5 794 830 958 807 652 B. Provisions 848 327 826 983 C. Liabilities 454 430 490 712 D. Deferred income 63 235 57 436 2 196 950 2 182 783 1) Including own shares of c 184.6 million 10

CONSOLIDATED INCOME STATEMENTS Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2004 2003 e 000 e 000 1. Sales 610 214 586 947 2. Change in inventories of finished goods and work in progress 472 1 368 3. Other operating income 16 633 15 102 4. Cost of materials 186 516 178 914 5. Gross profit 440 803 421 767 6. Personnel costs 194 355 191 609 7. Depreciation/amortization of intangible and tangible assets 23 674 26 146 8. Other operating expenses 171 299 170 984 9. Income from equity holdings 5 653 5 860 10. Net interest balance 1 634 292 13. Income from operations 55 494 38 596 14. Taxes 30 516 19 495 15. Consolidated net income 24 978 19 101 of which minorities 130 75 EBITA reconciliation Income from operations 55 494 38 596 Net interest balance 1 634 292 Goodwill amortization 4 334 6 500 EBITA including extraordinary items 61 462 45 388 Extraordinary items 5 078 12 977 Adjusted EBITA 66 540 58 365 11

CONSOLIDATED STATEMENTS OF CASH FLOW Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2004 2003 e 000 e 000 Consolidated net income 24 978 19 101 Depreciation/appreciation of fixed assets 23 674 26 146 Changes in provisions 23 404 1 785 Changes in inventories, receivables and other assets 2 144 49 003 Change of other borrowed funds 25 155 26 339 Cash flow from operating activities 44 757 69 696 Outflow for investments in fixed assets 28 600 40 000 Inflow from the sale of consolidated companies 0 45 052 Cash flow from investment activities 28 600 5 052 Change in financial liabilities 3 479 12 314 Dividends paid 570 584 Other changes 0 1 295 Cash flow from financing activities 4 049 11 603 Total cash flow 12 108 63 145 Funds on 31.3.2004 311 368 Funds on 1.1.2004 299 326 +/ Changes in funds due to differences in the companies consolidated 66 Changes in funds with cash effects 12 108 In the statements of cash flow the payment flows are divided into the areas of operating, investment and financing activities. As company liquidity, other securities in current assets and cash and cash equivalents are included in funds. 12

GROUP SEGMENT REPORT Jan. 1 Mar. 31, 2004 Newspapers Magazines Printing Electronic Other/ Total media consoliin e million dation External sales 348.1 181.7 30.7 17.0 32.7 610.2 Internal sales 3.5 0.7 114.5 1.9 1.7 Division sales 351.6 182.4 145.2 18.9 34.4 Sales in Germany 325.8 137.9 135.2 18.6 31.4 Sales outside Germany 25.8 44.5 10.0 0.3 3.0 Division sales 351.6 182.4 145.2 18.9 34.4 EBITA 62.4 2.7 0.5 0.5 1.4 66.5 of which depreciation 6.4 2.9 9.8 0.7 of which income from equity holdings 2.0 1.5 0.5 1.0 Employees 5 128 2 849 2 547 376 Jan. 1 Mar. 31, 2003 Newspapers Magazines Printing Electronic Other/ Total media consoliin e million dation External sales 327.7 183.3 28.0 13.8 34.1 586.9 Internal sales 4.8 0.3 113.1 1.3 2.3 Division sales 332.5 183.6 141.1 15.1 36.4 Sales in Germany 315.0 137.8 132.8 15.0 32.1 Sales outside Germany 17.5 45.8 8.3 0.1 4.3 Division sales 332.5 183.6 141.1 15.1 36.4 EBITA 38.6 16.8 0.4 0.2 2.8 58.4 of which depreciation 7.5 3.1 12.4 1.2 of which income from equity holdings 2.0 1.9 0.4 0.9 Employees 5 296 2 752 2 686 387 For division sales the internationally recognized key ration EBITA (Earnings before Interest, Taxes and Amortization) is used to show the period result before interest, taxes and goodwill amortization. 13

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY Parent company Minority interests Accumulated other Subscribed Generated comprehensive capital Group equity income Ordinary Adjustment Adjustment from shares item from initial application Adjustment currency of the German item for translation Transparency and Stockholders Minority currency Group in e 000 Disclosure Act Equity capital translation Equity equity Dec. 31, 2003 102 000 426 718 3 334 276 474 801 858 5 976 182 5 794 807 652 Dividens paid 0 0 0 0 0 570 0 570 570 Miscellaneous changes 0 0 11 0 11 1 113 0 1 113 1 102 Net income for the quarter 0 24 848 0 0 24 848 130 0 130 24 978 March 31, 2004 102 000 451 566 3 323 276 474 826 717 4 423 182 4 241 830 958 14

EXPLANATORY NOTES TO THE INTERIM FINANCIAL STATEMENTS Axel Springer Group General notes The interim report on the period between January and March, 2004 was prepared in line with the German Accounting Standard No. 6 (DRS 6) Interim Reporting of the German Accounting Standards Committee e. V. (DRSC). The accounting and valuation methods used for the interim financial statements as of March 31, 2004 correspond to those used in the consolidated financial statements as of December 31, 2003. Consolidated companies In the consolidated financial statements as of March 31, 2004, 31 German and 18 foreign companies were included in consolidation, in addition to Axel Springer AG. Four joint ventures were consolidated on a pro rata basis. Following the transfer of its business operations to Axel Springer AG, GMZ Druckerei GmbH & Co. was deconsolidated with effect of January 1, 2004. Berlin, May 2004 Axel Springer AG The Management Board Report of the Supervisory Board Audit Committee The interim report for the first quarter of the 2004 financial year and report of the auditor on the audit examination of the interim financial statements were submitted to the Supervisory Board Audit Committee. The documents were explained by the Management Board and discussed with the auditor. The Audit Committee approved the interim financial statements. Berlin, May 2004 Chairman of the Audit Committee Dr. Giuseppe Vita Disclaimer This Interim Report contains forward-looking statements with the connected risks and imponderables. The actual development of business and profits at Axel Springer AG and the Group may deviate materially in the future from the assumptions made in this Interim Report. This Interim Report represents neither an offer for sale nor the request to submit an offer for the securities of Axel Springer AG. The publication of this Interim Report does not bring with it an obligation to update the statements made in it. 15

Financial calendar Annual Results Press Conference February 26, 2004 Annual shareholders meeting April 14, 2004 Interim Report January-March 2004 May 12, 2004 Interim Report January-June 2004 August 2004 Interim Report January-September 2004 November 2004 Share information Jan. 1 Mar. 31, Jan. 1 Mar. 31, 2003 2004 DVFA/SG earnings per share 1) 0.64 0.95 Closing price 2) 42.50 86.50 Highest price 50.00 89.30 Lowest price 41.00 70.00 Average price 45.48 80.04 Security identification number 550 135 ISIN Reuters Bloomberg DE0005501357 SPRGn.F SPR GR The Interim Report and current information on Axel Springer AG are available on the Internet: www.axelspringer.de For more information please contact: Axel Springer AG Investor Relations E-mail: ir@axelspringer.de Axel-Springer-Strasse 65 10888 Berlin Telephone: + 49 (0) 30 25 91-7 74 20/7 74 21 Fax: + 49 (0) 30 25 91-7 74 22 1) Calculation basis: 34.0 million share in Q1/2003, 30.6 million shares in Q1/2004 (excluding own shares) 2) As of March 31, 2003 and March 31, 2004 Axel-Springer-Platz 1 20350 Hamburg Telephone: + 49 (0) 40 3 47-2 67 99/2 55 41 Fax: + 49 (0) 40 3 47-2 42 89 16