Austrian Airlines

euro adhoc: Austrian Airlines AG
Restructuring & Recapitalisations
General meeting of shareholders approves ordinary capital increase of Austrian Airlines Österreichische Luftverkehrs AG

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03.11.2006

The  Extraordinary  General  Meeting  of  Shareholders  of    Austrian Airlines Österreichische Luftverkehrs-Aktiengesellschaft held  on  2 November  2006  has passed a resolution to implement a simplified capital reduction  under  sections 182 et seq. of the Austrian Stock Corporation Act (Aktiengesetz).  As  a  result of the resolution, the calculated notional amount per share of EUR 7.27 will  be reduced to EUR 3.00 and the  nominal  share  capital  will  be  reduced  by  EUR 145,180,000, from its previous figure of  EUR 247,180,000 to EUR 102,000,000.

In addition to this, a resolution was passed to revoke the authorisation of  the Board of Management of 22 May 2006, in accordance  with  §  169  of  the  Stock Corporation Act, to increase the share capital by 12 August 2011 by  up  to  EUR 123,590,000 through the issue up to 17  million  individual  share  certificates against a cash deposit.

A resolution was also reached to carry  out  an  ordinary  capital increase  by issuing a maximum volume of up to 68 million bearer shares with  no  par  value. The capital increase should be implemented this year by way  of  an  "at  market bookbuilt offering". One shareholder abstained on all the  points  of  order on which a vote was held. Afterwards he entered an objection which was  documented in the minutes.

Disclaimer: This ad hoc release does not represent either an offer for the  sale or a call for the purchase of securities. No public offer of shares in  Austrian Airlines Österreichische Luftverkehrs AG has yet taken place.  Any  applications for orders placed at the present time will be rejected. If  a  public  offer  is placed, a prospectus  corresponding  to  the  conditions  of  Austrian  Capital Markets Act will be published.

This ad hoc release and the information contained in it  are  not designed  for circulation in the United States of America (USA) or within  the  USA,  and  may not be distributed or conveyed to "U.S. persons" (as defined in Regulation S  of the U.S. Securities Act of 1933 in  the  currently  valid  version  ["Securities Act"]) or to publications with a general distribution in the USA.  This  ad  hoc release does not represent either an offer for  the  sale  or  a call  for  the purchase  of  securities  in  the  USA.  The securities  of  Austrian  Airlines Österreichische Luftverkehrs-Aktiengesellschaft  have  not  been  registered  in accordance with the regulations of the Securities Act,  and  may  not be  sold, offered for sale or supplied to U.S. persons without an exceptional clause  from the obligation to register.

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ots Originaltext: Austrian Airlines AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Konzernkommunikation:
Johannes Davoras
Johann Jurceka
Tel.: 051766-1231

Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3700

Branche: Air Transport
ISIN:      AT0000620158
WKN:        875224
Index:    WBI, ATX Prime, ATX
Börsen:  Wiener Börse AG / official dealing



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