09.03.2004 – 08:59

AvW Invest AG

euro adhoc: AvW INVEST AG
AvW Invest AG: 2003 preliminary results (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

AvW reports strong financial results for the 2003 fiscal year. The
company prepares its financial statements in accordance with IAS and
observes the accounting proposals applicable to banks.

~
In EUR million                     2003         2002

Operating result                  2.670        1.769
Operating expenses                1.872        1.333
Earnings before tax
(result on ordinary activities)   2.259        0.500
Net income for the year           1.523        0.427
Accumulated profits               2.601        1.397
Workforce                           140          107
Balance sheet total              18.428       18.514
Equity capital                   16.932       15.823

Equity ratio                      91.9%        83.3%
Earnings per share in EUR          0.51         0.14
~

Market situation of the AvW Group
The core business of financial services and the equity investment
segment produced significantly improved results in 2003. In the real
estate segment, AvW continued to consistently increase its level of
assets and also expanded its real estate holdings.

Outlook
AvW plans to further expand its core business of financial services
in Austria and Germany and to provide high-quality consulting
services to the company’s clients. The positive trend in the equity
investment business is expected to continue, and value/growth stocks
will continue to produce profitable results in the future. In the
real estate business, AvW will continue to seek out and acquire
favourably valued real estate properties.

The company’s definitive figures will be published on April 7, 2004.
AvW’s ordinary shares (AVWI.VI) are listed on the ATX prime index on
the Vienna stock exchange under the specialist group Banks and on the
ViDX, the AvW preference shares (AVWI_p.VI) are listed on the Auction
Market.

end of announcement        euro adhoc 09.03.2004

Further inquiry note:

AvW INVEST AG
Mag. Alexandra Anthofer
http://www.avw.at

Branche: Financial & Business Services
ISIN: AT0000930409
WKN: 093040
Index: Prime.market
Börsen: Wiener Börse AG / official dealing
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade