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Intercell AG

euro adhoc: Intercell AG
Financing, Stock Offerings
Intercell AG prices IPO at EUR 5.50- first trading day February 28, 2005

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
25.02.2005
Vienna, February 25, 2005 - The Austria-based vaccine company
Intercell AG has priced its initial public offering (IPO). The offer
consisted of an initial public offering in Austria and private
placements to institutional investors in certain other jurisdictions.
The offer price was set at EUR 5.50 per share. The offer was priced
at this level to ensure the broadest possible participation by
Austrian and international investors and to strengthen aftermarket
support.
With 8,500,000 newly issued shares at a price of EUR 5.50 per share,
Intercell AG will have raised a total of EUR 46.75 million. Intercell
AG intends to use the net proceeds of this offering for the further
development and commercialization of its product candidates, the
further development of its technologies in order to create additional
business opportunities, and for general corporate purposes.
Intercell AG and certain existing shareholders have granted the
underwriters a 30-day option to purchase up to an additional
1,275,000 shares. Upon completion of the offering and assuming that
the over-allotment option is fully exercised, there will be
33,018,138 shares outstanding and new shareholders will hold
approximately 29.6 % of the company.
Intercell's common stock is scheduled to begin trading on the Prime
Market segment of the Vienna Stock Exchange on February 28, 2005
under the symbol "ICLL". The Settlement date is expected to be March
3, 2005.
Goldman Sachs acted as the global coordinator and bookrunner, with
Lehman Brothers as the lead manager and Bank Vontobel, DZ Bank and
Erste Bank as co-lead managers.
The placing at a glance
Offer size:	 8,500,000 shares of newly issued common stock 
                   of Intercell AG 
Price:	          EUR 5.50
First trading day: on or about February 28, 2005
Settlement date:	 on or about March 3, 2005
ISIN: 	          AT0000612601
Vienna Stock Exchange ticker symbol:	ICLL
Lock-up:           Generally, 12 months for the management board, 
                   6 months for the Supervisory Board and other 
                   existing shareholders.
This document is for distribution in the U.K. only to (i) persons who
have professional experience in matters relating to investments
falling within article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2001 (the "Order") or (ii) high
net worth entities falling within article 49(2)(a) to (e) of the
Order (all such persons being together referred to as "relevant
persons"). This document is directed only at relevant persons. Other
persons should not act or rely on this document or any of its
contents. This document is confidential and is being supplied to you
solely for your information and may not be reproduced, redistributed
or passed on to any other person or published, in whole or in part,
for any other purpose.
This communication expressly or implicitly contains certain
forward-looking statements concerning Intercell AG and its business.
Such statements involve certain known and unknown risks,
uncertainties and other factors which could cause the actual results,
financial condition, performance or achievements of Intercell AG to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Intercell AG is providing this communication as of this date and does
not undertake to update any forward-looking statements contained
herein as a result of new information, future events or otherwise.
The information contained herein is not for publication or
distribution in the United States of America. This press release is
not an offer of securities for sale in the United States. Securities
may not be offered or sold in the United States absent registration
or an exemption from registration under the U.S. Securities Act of
1933, as amended. Any public offering of securities to be made in the
United States will be made by means of a prospectus that may be
obtained from Intercell AG and that will contain detailed information
about the company and management, as well as financial statements.
end of announcement                    euro adhoc 25.02.2005 15:48:11 

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