28.02.2005 – 19:37

Intercell AG

euro adhoc: Intercell AG
Financing, Stock Offerings
Intercell Shares begin trading on the Vienna Stock Exchange

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

28.02.2005

Vienna, 28 Februar 2005 - Shares of Intercell AG began trading today
on the Prime Market segment of the official market (Amtlicher Handel)
of the Vienna Stock Exchange (Wiener Börse) under the symbol "ICLL".
The shares closed at EUR 5.70 for the day, up 3.64 percent over the
initial offer price of EUR 5.50.
"We are pleased with the positive performance of our shares on the
first day of trading on the Vienna Stock Exchange. The increase of
the price reflects strong investor interest from Austrian and
international investors," commented Werner Lanthaler, Intercell AG’s
Chief Financial Officer, about the successful first day of trading.
Intercell raised EUR 46.75 million in gross proceeds from the
offering. In order to achieve strong demand from both international
institutional investors and institutional and retail investors in
Austria, the offer price was set at EUR 5.50, at which level the
transaction was over-subscribed.
The initial allocation of the shares in the offering was 85 percent
to international institutional investors and 15 percent to
institutional and retail investors in Austria.  A 65 percent
preferential allocation criteria was applied to the first 1,500
shares of each retail order.  For larger retail orders, the 65
percent preferential allocation criteria was applied to the first
1,500 shares of the order and a 30 percent allocation criteria was
applied to the remaining shares of the order.  Erste Bank der
oesterreichischen Sparkassen AG, the only Austrian bank in the
syndicate, is responsible for allocation decisions for its customers.
 It is possible that other banks will not adhere to the allocation
criteria specified by Intercell AG.

end of announcement                    euro adhoc 28.02.2005 19:01:39 

Further inquiry note:

Intercell AG
Mag. Katharina Wieser
Head of Corporate Communications
Tel. +43 1 20620-303
kwieser@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN:
Index:
Börsen: Wiener Börse AG / official market