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AvW Invest AG

euro adhoc: AvW INVEST AG
1st Half 2003 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
The financial services and investment company AvW Invest AG, listed
on the ATX Prime Market at the Vienna stock exchange, has presented
its 2003 interim report according to IAS, in adherence to the balance
sheet preparation proposals applicable to banks.
~
in EUR million                       1st Half 2003   1st Half 2002
Operating profit                             1.303           0.979
Profit on ordinary activities before tax     0.940           0.779
Net income over the period                   0.609           0.501
Operating expenses                           0.917           0.647
Workforce                                      114              98
~
Market situation 
The anticipated financial improvement within the AvW Group led to a
significant recovery within the financial services, investment
business and real estate business. EBIT, result of ordinary
activities and net profit for the period have increased significantly
in comparison with the same period last year.
In the financial services business, AvW realised earnings of EUR
1.863 million during the first half of 2003 (2002: EUR 1.511
million), which equates to a rise of 23%. At the end of the period
under review, 103 financial partners (2002: 88) worked for AvW Invest
AG. Since May, AvW has two well-known companies in Vienna under
contract as financial partners, with the result that our clients now
have access to financial advisers in every Austrian province.
In the investment business, the AvW Group increased its existing
investment holdings. Sella Austria Consult AG (25.17%) and BSS
Cosmetic GmbH (25%) holdings were disposed of.
Earnings from real estate business improved slightly.
Outlook
Since May, the AvW financial services network has covered the whole
of Austria, and we are now looking to expand the network in Germany.
Investment purchases are being made when favourable opportunities
arise. We also have our sights set on insurance and financial
services companies in Austria and Germany and are planning further
purchases.
Real estate purchase negotiations are underway in relation to a large
real estate project, and the purchase of the property in Carinthia
should be completed during the 3rd quarter of 2003.
Following the positive progress of business during the first six
months of 2003, we anticipate a satisfactory development in
operational business during the second half of the year.
The 1st half 2003 report is published on our homepage at www.avw.at.
end of announcement        euro adhoc 13.08.2003

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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