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ECO Business-Immobilien AG

EANS-Adhoc: ECO Business-Immobilien AG
Friedrich Scheck resigns as CEO

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
16.10.2009
ECO Business-Immobilien AG: Friedrich Scheck
resigns as CEO
Vienna, 16 October 2009. The Supervisory Board of ECO 
Business-Immobilien AG announces that Friedrich Scheck has announced 
his resignation as chief executive officer of ECO Business-Immobilien
AG effective on 31 December 2009. As of this same date he will also 
resign as the managing director of ECO Management GmbH, a wholly 
owned subsidiary of the conwert Immobilien Group.
Alexander Schoeller, chairman of the Supervisory Board of ECO 
Business-Immobilien AG, accepted the resignation of Friedrich Scheck 
with regret: "Under the direction of Mr. Scheck ECO has established a
position as a well-known Austrian business property company that is 
listed in the Prime Market segment of the Vienna Stock Exchange. ECO 
is well positioned for the future with an attractive property 
portfolio, a 40% equity ratio and a sound financing situation that is
characterised by stable long-term interest rates. We regret this 
personal decision by Mr. Scheck, but respect his decision to focus on
new professional challenges. The CEO is leaving the company in a 
stable and well-ordered financial position. The Supervisory Board is 
optimistic that an adequate solution to the issue of succession will 
soon be found. I would like to wish Mr. Scheck the very best for his 
future professional activities and thank him for his previous 
commitment".
On his new professional direction, CEO Friedrich Scheck commented: 
"Since the founding of the company in 2003, my team and I have 
transformed ECO into a serious market player. Against the backdrop of
the global financial and economic crisis, we resized the company 
during the past 12 months and stabilised the liquidity and financing 
situation - which made it possible for us to master the most 
difficult market situation in decades. The further solid development 
of the company is now secure, and the time has come to turn my 
attention to new challenges in my role as a certified public 
accountant and property entrepreneur."

Further inquiry note:

Hochegger Financials
Roland Mayrl
Tel.: +43(1) 504 69 87-331
mailto:r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Prime.market
Börsen: Wien / Regulated free trade

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