AvW Invest AG

euro adhoc: AvW INVEST AG
1st Half of 2002 (E)

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

AvW INVEST AG prepares its financial statements in accordance with
International Accounting Standards (IAS) and observes the accounting
proposals applicable to banks.
"~"
in EUR million                                        1-6/2002    1-6/2001*
Operating income                             1,720         1,684
Operating profit                             0,979         0,879
profit on ordinary activities before tax  0,778         0,120
Net income over the period                 0,218         0,060
Operating expenses                             0,647         0,718
Workforce (30.06.)                                          98              79
*new presentation according to IAS
"~"
Market situation of the AvW Group
During the 1st half of 2002, the Group realised significantly more
income within its core business operation of financial services.
Proceeds from our financial services businees totalled EUR 1,511
million.
In the equity investment business, a media company in Germany was
taken over.
Slight growth was reported in the real estate business.
The expected improvement in the economic situation of the AvW Group
has led to a significant increase in operating income in the
financial services business, so that in comparison with the same
period during the previous year, the operating profit, profit on
ordinary activities and net income over the period have all increased
significantly, and operating expenses have been reduced.

Outlook Progress in financial services business remains positive, so that we can expect good operating income within our core business operation. In the real estate and equity investment business, purchases are being made when favourable opportunities arise. We are investigating a new real estate project involving an investment in a water exploitation company and the purchase of water sources.

end of announcement            euro adhoc 20.08.2002
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Further inquiry note: Frau Helga Caldera

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



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