Austrian Airlines

euro adhoc: Austrian Airlines AG
Supervisory Board decides to extend Board of Management contracts and streamline divisions

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Chief Financial and Commercial Officers confirmed for further terms and positions reappointed from October 2005 onwards Reorganisation of Board of Management divisions intended from 1 April 2005: following successful period in office and expiration of contract term, Chief Operations Officer to take well-earned retirement from end of September 2005 Two more members of management team awarded full power of attorney Supervisory Board approves purchase of six additional Fokker 100 aircraft In its meeting of 9 December 2004, the Supervisory Board of the Austrian Airlines AG took a number of decisions to ensure a successful continuity at top management level and streamline the way in which the Board of Management divisions are run in future. Reappointments to the Board of Management The Board of Management contracts of the Chief Financial Officer Ing. Mag. Thomas Kleibl, 45, and Chief Commercial Officer Dr. Josef E. Burger, 52, both of which were due to expire at the end of September 2005, have now been extended for a further period of four years (i.e. from October 2005 until 2009). Chief Operations Officer Dr. Walter Bock, 60, having contributed many years of successful service to the company, has now decided to step down and enjoy his well-earned retirement when his own contract expires at the end of September 2005. Because the current contract of the Chief Executive Officer, Vagn Soerensen, runs for a year longer than his colleagues, until end-September 2006, the Supervisory Board has not yet convened to discuss whether to approve a reappointment. Reorganisation and streamlining of Board of Management departments To implement this reorganisation as rapidly as possible, this should be completed by 1 April 2005. The production departments of Flight Operations, Technical Division and Ground Operations will now be divided between other Board of Management departments on the basis of new, more sensible areas of responsibility. In addition to his own previous duties, Chief Executive Officer Vagn Soerensen will now take Board of Management responsibility for the Production Companies. The Board will be ably supported in this field by the Managing Director for the Austrian Production Company, Capt. Mag. Christian Fitz, who will operate in a horizontal coordinating function for overall production and its quality monitoring in the Austrian Airlines Group. Chief Financial Officer Ing. Mag. Thomas Kleibl, who has a strong technical background in addition to his financial and controlling expertise, will now take responsibility on the Board of Management for the Austrian Technical Division. With its current expenditure volume of approximately EUR 240 million, this division also represents a key financial factor for the Group. Chief Commercial Officer Dr. Josef E. Burger will take on the additional Board of Management duties associated with the area of Ground Services, a sensible move designed to unite all our product design and customer service departments within his division. From April until his retirement at the end of September next year, Chief Financial Officer Dr. Bock will be able to offer the Group his far-reaching experience in the position of Special Advisor, as well as working on special projects. Other conferrals of full power of attorney In an effort to further strengthen the support given to the Board of Management by second-level management, two further members of the management team have been awarded full power of attorney. Johannes Davoras, 42, Vice President for Corporate and Market Communications, Internal Communications, Advertising, Corporate Identity and Emergency Provisions, and Rainer Pichler, 39, Vice President for Information Systems and Process and Project Management, are now to be appointed full power of attorney in their responsibilities. Purchase of additional six Fokker 100 aircraft approved In addition to the nine F 100 aircraft already purchased, which are currently in the process of being delivered, adapted to Austrian standards and put into service with Austrian arrows, the Supervisory Board has now approved the purchase of another six aircraft of this type within the scope of the medium-haul and long-haul corporate plan. end of announcement euro adhoc 09.12.2004 15:17:55 --------------------------------------------------------------------- Further inquiry note: Corporate and Market Communications: Johannes Davoras Johann Jurceka Tel.: 051766-1231 Investor Relations Dr. Prisca Havranek-Kosicek Tel.: 051766 - 3642 Branche: Air Transport ISIN: AT0000620158 WKN: 062015 Index: WBI, ATX Prime, ATX Börsen: Wiener Börse AG / official dealing

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