AvW Invest AG

euro adhoc: AvW INVEST AG
AvW Invest AG: Successfully 1st quarter 2004 (E)

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AvW Invest starts the 2004 financial year with a significant increase in earnings. The company prepares its financial statements in accordance with IAS and observes the accounting proposals applicable to banks.

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In EUR million  1st quarter, 2004    1st quarter, 2003  increase in %
Operating results                 1.352                        1.125                + 20%
Earnings before tax              1.321                        0.832                + 59%
Net income for the year        0.884                        0.525                + 68%
Result per share                    0.29                         0.17                + 70%
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Business Development Compared to the prior year, the AvW Group was able to increase operational business to a total of EUR 1.352 million (2003: EUR 1.125 million) in all three business segments - financial services, equity investments and real estate. At EUR 0.457 million (2003: EUR 0.502 million), operating expenses remained at a stable level. The number of employees increased to 143 (2003: 103). In the investment business sector, the Group acquired a new holding of 9.1% in S&T System Integration & Technology Distribution AG, the regional market leader in IT systems integration in Central and Eastern Europe. In addition, AvW holds approximately 11% of Hirsch Servo AG and approximately 14.9% of Pankl Racing Systems AG. The strong growth trend in the financial services segment continued, while the dynamic expansion of the financial services network in Austria proceeded at a consistent pace.

Outlook In the equity investment segment an investment in a renowned Austrian industrial enterprise is planned. Overall, AvW is expecting the positive trend to continue for the remainder of the 2004 financial year.

The 1st quarter 2004 report is published on our homepage at www.avw.at.

end of announcement            euro adhoc 18.05.2004
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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



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