EANS-Adhoc: conwert Immobilien Invest SE
conwert establishes its own sales
team in Austria
23.09.2011 – 11:28
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 23.09.2011 Cooperation with RESAG Immobilienmakler GmbH will be reduced Cost savings potential of between EUR 1.5 - 2.5 million Service agreements with a value of EUR 700.000 annually with Wiener Privatbank cancelled Vienna, 23 September 2011. The Austrian ATX-traded conwert Immobilien Invest SE will internalise its sales activities, which have so far been managed by RESAG Immobilienmakler GmbH in Austria, and will establish its own sales team in Austria. A corresponding decision was adopted by the Executive Board of conwert. Jürgen Kelber, member of the Executive Board, who also manages the sales activities in Germany, will continue to hold overall responsibility for the sales activities of conwert. Andreas Bäcker will manage the sales activities in Austria on an interim basis. As a consequence, the cooperation with RESAG Immobilienmakler GmbH will be consistently reduced in the coming months. To date, conwert has already withdrawn properties totalling more than EUR 350 million from the sales portfolio of RESAG. conwert creates full transparency in its sales activities by this internalisation, which also enables conwert to realise a savings potential amounting to between EUR 1.5 and 2.5 million annually. 51% of RESAG Immobilienmakler GmbH are held by Wiener Privatbank SE; the remaining 49% are owned by conwert Immobilien Invest SE. Furthermore, in the course of the ongoing review of existing contracts with third parties conwert has cancelled service contracts with Wiener Privatbank worth another EUR 700,000 annually. Further inquiry note: conwert Immobilien Invest SE, Clemens Billek, Investor Relations - Corporate Communications, T +43 / 1 / 521 45-700, E cw@conwert.at end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: conwert Immobilien Invest SE Albertgasse 35 A-1080 Wien phone: 52145-0 FAX: 52145-111 mail: cw@conwert.at WWW: http://www.conwert.at sector: Real Estate ISIN: AT0000697750 indexes: WBI, ATX stockmarkets: official market: Wien language: English