SkyEurope Holding

euro adhoc: SkyEurope Holding
Financing, Stock Offerings (IPO)
SkyEurope announces launch of EUR 17.5 million rights issue at a fixed price of EUR 1.75 per share

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08.09.2006

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO CANADA, JAPAN OR THE UNITED STATES

SkyEurope Holding AG is pleased to announce the launch of its EUR 17.5 million rights issue via the sale of 10 million shares at EUR 1.75 per share. The rights issue is being arranged by UBS Investment Bank and CA IB.

The rights subscription period commences on Friday 8th September 2006 and closes on Friday 22nd September 2006. Shareholders on record as at Thursday 7th September 2006 have the right to purchase one new share for every two shares owned at a fixed price of EUR 1.75 per share. The rights will be detachable and traded separately on the Vienna and Warsaw Stock Exchanges. UBS Investment Bank and CA IB will seek to place any unsubscribed shares with other investors.

As previously announced, the rights issue is part of a comprehensive EUR 56.3 million financing package that includes a EUR 38.8 million investment by York Global Finance II ("York") via a combination of 8.99 million new shares, also at a purchase price of EUR 1.75 per share, and EUR 23.7 million of Convertible Bonds. York's investment is conditional upon approval of our shareholders, which is being sought at an Extraordinary General Meeting to be held on 20th September 2006, and the successful completion of the rights offering.

SkyEurope intends to use the cash proceeds from the rights offering and York's investment to consolidate and expand its activities in accordance with the following: (i) to fund expansion through organic growth in existing and new markets and/or acquisitions; (ii) to provide flexibility for aircraft acquisition funding; and (iii) for other general corporate purposes, including ongoing payment obligations.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF, OR THE SOLICITATION OF ANY OFFER TO SUBSCRIBE OR BUY, ANY SHARES IN SKYEUROPE HOLDING AG. THIS ANNOUNCEMENT MUST NOT BE USED FOR SUCH AN OFFER OR SOLICITATION TO BUY ANY SECURITIES. THE SECURITIES IN THE RIGHTS ISSUE WILL BE SOLELY OFFERED BY MEANS AND ON THE BASIS OF INFORMATION CONTAINED IN THE PROSPECTUS DATED 7 SEPTEMBER 2006 AS APPROVED BY THE AUSTRIAN FINANCIAL MARKET AUTHORITY, OR ANY SUPPLEMENT THERETO, AND PUBLISHED IN CONNECTION WITH THE RIGHTS ISSUE. THE PROSPECTUS WILL BE MADE AVAILABLE FREE OF CHARGE AT THE REGISTERED OFFICE OF SKYEUROPE HOLDING AG AND AT CERTAIN OFFICES OF BANK AUSTRIA CREDITANSTALT AG. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES. THE RIGHTS MAY NOT BE EXERCISED BY U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT).  THE NEW SHARES TO BE OFFERED IN THE RIGHTS ISSUE HAVE NOT BEEN, NOR WILL THEY BE, REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE IN THE UNITED STATES OR UNDER THE APPLICABLE SECURITIES LAWS OF CANADA, AUSTRALIA, JAPAN, OR SOUTH AFRICA. THE NEW SHARES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, OR SOUTH AFRICA OR TO OR FOR THE BENEFIT OF ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, OR SOUTH AFRICA.

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ots Originaltext: SkyEurope Holding
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
SkyEurope Holding AG
Mag. Erhard Schmidt, CFO
Tel.:+421 2 4850 1180
mailto:investor.relations@skyeurope.com
http://www.skyeurope.com

Branche: Air Transport
ISIN:      AT0000497003
WKN:        A0F5WU
Index:    WBI
Börsen:  Wiener Börse AG / official market



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