Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

euro adhoc: Wiener Städtische
Mergers - Acquisitions - Takeovers / Kooperativa pojistovna, a. s, a member of Wiener Städtische Group, acquires the composite insurance company Ceská podnikatelská pojistovna, a.s

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Kooperativa pojistovna a. s, a member of Wiener Städtische Group, has signed today a purchase agreement for 100 percent of the shares of Ceská podnikatelská pojistovna a.s. Kooperativa is the largest insurance company of Wiener Städtische Group and the second largest insurance company in the Czech republic.

Ceská podnikatelská pojistovna, a.s is a composite insurer with a premium volume of about 120 mio. euros, 25 mio. euros of which are life insurance business and 95 mio. euros are non-life insurance business with a focus on motor insurance. Thus, the company has a market share of about 3.3 percent and is number eight on the Czech insurance market (in non-life the company ranks number five).

The transaction has been effected subject to approval by the Czech anti-monopoly and cartel authorities as well as the Ministry of Finance. The non-disclosure of the purchase price was agreed upon.

The company is represented throughout the Czech insurance market with 80 branches and has about 700 employees.

Through this acquisition, Kooperativa will extend its excellent market share of 21.7 percent to about 25 percent.

In the future, Ceská podnikatelská pojistovna, a.s will continue to operate independently as a member of the Kooperativa Group on the Czech insurance market.

end of announcement                                euro adhoc 10.05.2005 18:19:58

Further inquiry note: Wiener Städtische Communications Barbara Hagen-Grötschnig Tel.: +43 1 531 39-1027 Fax: +43 1 531 39-3134 E-Mail:

Branche: Insurance
ISIN:      AT0000908520
WKN:        090852
Index:    Standard Market Continous
Börsen:  Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Wiener Börse AG / official dealing

Weitere Meldungen: Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

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