AvW Invest AG

euro adhoc: AvW INVEST AG
Quarterly or Semiannual Financial Statements
Results for the first quarter of 2002 (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Results for the first quarter of 2002 The expected improvement in the economic situation of the AvW Group has led to a significant increase in operating income in the financial services business, so that in comparison with the same period during the previous year, the operating profit, profit on ordinary activities and net income over the period have all increased significantly, and operating expenses have been reduced. AvW INVEST AG prepares its accounts in accordance with International Accounting Standards (IAS). in EUR million 1-3/2002 1-3/2001* Operating income 1.483 0.842 Operating profit 1.113 0.440 Profit on ordinary activities before tax 0.605 0.060 Net income over the period 0.386 0.030 Operating expenses 0.319 0.359 *new presentation according to IAS During the first quarter of 2002, the Group realised significantly more income within its core business operation of financial services. Proceeds from our core financial services business totalled EUR 1.296 million. Equity investment business has been further expanded, via investments in fundamentally good, listed Austian companies. Slight growth was reported in the real estate business. Outlook The progress in financial services business is above average, so that we can expect good operating income within our core operation. In real estate, negotiations are in progress on a major forestry project and a residential and rented building. AvW expects final contracts to be signed this year. The entire quarterly report of AvW INVEST AG for the first quarter of 2002 is available at www.avw.at. end of announcement euro adhoc 22.05.2002 --------------------------------------------------------------------- Further inquiry note: Frau Helga Caldera Branche: Financial & Business Services ISIN: AT0000930409 WKN: 093040 Börsen: Baden-Württembergische Wertpapierbörse, Deutsche Börse AG Frankfurt, Wiener Börse AG

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