conwert Immobilien Invest AG

euro adhoc: conwert Immobilien Invest AG
Restructuring & Recapitalisations / conwert Immobilien Invest AG marks highly successful capital increase

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03.04.2007

conwert Immobilien Invest AG marks highly successful capital increase

Vienna, 03/04/2007. conwert Immobilien Invest AG (Vienna Stock Exchange: CWI, Reuters: CONW.VI, Bloomberg: CWI AV) has successfully completed its largest capital increase to date by a complete placement of all 26,674,773 offer shares. In cooperation with investment banks acting as joint lead managers, and based on purchase orders placed, the final subscription and offer price was set at EUR 15.50 per offer share. conwert intends to use the gross proceeds of approx. EUR 413.46m from this offering as equity for financing further expansion of the property portfolio.

The strong demand for conwert shares from both international and Austrian investors led to a considerable oversubscription of the new shares. In keeping with the increasing internationalisation of the company, and the great appeal of a business model focused on high-quality residential property both existing and new investors in Austria, all over Europe and the USA were attracted to the offer. In agreement with the consortium banks, a decision was made to fill all orders placed by Austrian retail investors.

conwert intends to use the proceeds from its largest capital increase to date to strenghten equity capital for further financing its growth. Thus, in the next 12-18 months, an investment volume of approx. EUR 800-1,000m could be realized. The further internationalisation of the company, encouraged by property acquisitions - especially in Germany - is in progress, as is the expansion of the market leadership position in Vienna, as well as the development of properties already in the portfolio. By the end of 2006, the conwert portfolio included properties worth approx. EUR 1.67bn.

After registration, this capital increase raised equity capital from approx. EUR 586.85m to approx. EUR 853.60m, while the stock market capitalisation of the company increased to approx. EUR 1.37bn. The first day of trading in the new shares is expected to take place on 4 April 2007, closing/settlement is expected to take place on 5 April 2007.

This release includes forward-looking statements. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates", "anticipates", "expects", "intends", "targets", "may", "will", "plans", "continues" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategies, plans, objectives, goals, future events or intentions. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Many factors could cause the actual results, performance or achievements of conwert to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.

This release does not constitute an offer for the sale of, or a solicitation of or invitation to offer to purchase securities of conwert Immobilien Invest AG, but is for information purposes only. The securities referred to herein have already been sold. In connection with the public offering of the securities of conwert Immobilien Invest AG in Austria, only the information contained in the prospectus and the supplement thereto (the "Prospectus") both as approved by the Austrian Financial Markets Authority and published is binding. The Prospectus may be obtained at conwert Immobilien Invest AG, Albertgasse 35, 1080 Vienna, and at Wiener Privatbank Immobilieninvest AG, Hohenstaufengasse 5, 1010 Vienna, during usual business hours free of charge. The information contained herein is not for publication in or distribution to the United States of America, Canada, Japan and Australia, or United States Persons or to publications with a general circulation in the United States. This is not an offer for sale of the securities in the United States. The securities and subscription rights referred to herein have not been and will not be registered pursuant to the US Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration thereunder or pursuant to an available exemption therefrom. No public offering of the securities will be made in the United States.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such securities will be engaged in only with, relevant per-sons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

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ots Originaltext: conwert Immobilien Invest AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
conwert Immobilien Invest AG, Johann Kowar, CEO, T +43 / 1 / 521 45-200,
E kowar@conwert.at

Hochegger|Financials, Roland Mayrl, T +43 / 1 / 504 69 87-31,
E r.mayrl@hochegger.com

Branche: Real Estate
ISIN:      AT0000697750
WKN:        069775
Index:    WBI
Börsen:  Wiener Börse AG / official dealing



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