Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

euro adhoc: Wiener Städtische Allg. Vers. AG
Restructuring & Recapitalisations / Successful capital increase by Wiener Städtische

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Please note: This is a translation; only the German version of this news release is authentic

Following today’s close of bookbuilding, Wiener Städtische this afternoon fixed the offer price at EUR 49.00 per share, in the biggest capital increase ever carried out on the Vienna Stock Ex-change by an insurance group. Thus, the offer corresponds to the closing price on December 15 (EUR 49.00).

Due to strong demand, the issue of 18,642,400 new shares was very successful. Wiener Städtische Wechselseitige Versicherungsanstalt - Vermögensverwaltung has granted to the syndicate an option to purchase up to  2,796,300 shares to cover over-allotments.  After the capital increase the free float will rise from about 11 percent to about 26 percent (29 percent assuming exercise in full of the over-allotment option).

The capital increase met with particularly lively interest from Austrian private investors. Austrian private investors who subscribed through a member of the syndicate no later than December 14, 2005 are entitled to a preferential allocation of subscription orders of up to 250 shares. A total of almost 40 percent of the issue was allocated to Austrian private investors. Demand from institutional investors was particularly strong in Austria, Germany, the UK, and the USA. The level of participation by employees of Wiener Städtische Group as part of the employee participation scheme was also very gratifying.

Wiener Städtische will use the proceeds of the capital increase, amounting to about EUR 910 million, primarily to finance further growth through acquisitions mainly in Central and Eastern Europe, but also to finance organic growth, and generally to optimise the financial structure.

Trading in the new shares is expected to commence in the prime market segment of the Vienna Stock Exchange on December 20, 2005.

Note: A prospectus in correspondence with the (Austrian) "Kapitalmarktgesetz" (Capital Markets Act) was pub-lished on December 1, 2005 and is available on the premises of Wiener Städtische Allgemeine Versicherung Aktiengesellschaft, Schottenring 30, 1010 Vienna, Austria, and of Erste Bank der oesterreichischen Spar-kassen AG (main hall, information counter), Graben 21, 1010 Vienna, Austria, and can be obtained during the customary business hours. The announcement ("Hinweisbekanntmachung") in the "Amtsblatt der Wiener Zeitung" (Official Gazette) was made on December 2, 2005. This is neither an offer nor an invitation to subscribe to, or buy, the share in jurisdictions in which such an offer or such an invitation is not permissible. In connection with the offer of the shares, only the statements made in the prospectus are binding.  Furthermore, these materials are not being issued in the United States of America and should not be distributed to United States persons or publications with a general circulation in the United States. These materials are not an offer for sale of the securities in the United States. No public offering of the securities will be made in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be sold in the United States absent registration or an exemption from registration under the Securities Act.

Not for distribution in or into the USA, Canada, Japan or Australia

Wiener Städtische Allgemeine Versicherung AG Schottenring 30 A-1010 Vienna ISIN: AT0000908504

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ots Originaltext: Wiener Städtische Allg. Vers. AG
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Further inquiry note:
Mag. Barbara Hagen-Grötschnig
Wiener Städtische Unternehmenskommunikation
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027

Branche: Insurance
ISIN:      AT0000908504
WKN:        A0ET17
Index:    ATX Prime, ATX, WBI
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

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