Austrian Airlines

euro adhoc: Austrian Airlines AG
CSFB reduces voting rights in Austrian Airlines AG to below 5 percent (E)

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Credit Suisse First Boston (CSFB) announced today that it had reduced its voting rights in Austrian Airlines AG to a level below 5%. CSFB took over the 10 % package of shares, originally held by Swissair, following the bankruptcy of the Swiss carrier. CSFB disposed of an initial block of shares in July 2002, reducing its package from 10 % to around 5 %.

The current shareholder structure of Austrian Airlines AG is as follows:

~
Free float                                                              43.2 %
ÖIAG                                                                        39.7 %
Austrian institutional investors                          10.6 %
Austrian Airlines - Stock Option Programme*          5.0 %
Air France                                                                1.5 %
~

* The 5 % share held by Austrian Airlines itself can be clarified as follows: in order to lay the ground for the introduction of a stock option programme, Austrian Airlines decided to repurchase a total of 1.7 million shares in summer 2002. This was equivalent to 5 % of the issued share capital. The programme is intended to grant future stock options to senior executives and members of the Board of Management of the company or an associated company. The participation of the senior executives in this programme, which was linked to their own investment in Austrian Airlines shares, was considerable, providing clear evidence of growing confidence in the company.

end of announcement            euro adhoc 11.12.2002
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Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051755-1231 Investor Relations Karl Knezourek Tel.: 051766 - 3328

Branche: Air Transport
ISIN:      AT0000620158
WKN:        062015
Index:    ATX, ATX Prime, WBI
Börsen:  Wiener Börse AG / official dealing



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