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conwert Immobilien Invest SE

EANS-Adhoc: conwert acquires two top-quality property packages totalling EUR 93 million Petrus Advisers new conwert core shareholder

  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.
29.04.2010
+ Takeover of 6 properties totalling EUR 93.15 million + Purchase 
prices will be paid in treasury shares + conwert Management and 
Günter Kerbler combine with Petrus Advisers to form   new group of 
core shareholders
Vienna, 29.04.2010. Within a comprehensive transaction, conwert 
Immobilien Invest SE, listed on the Vienna Stock Exchange, has 
acquired six properties of a total value of EUR 93.15 million from 
the Haselsteiner Family Private Foundation on the one hand and from 
STRABAG AG on the other. The purchase price will be paid with roughly
6.3 million own shares, which conwert has bought back within the 
share buyback programmes. The difference to the total purchase price 
results from taking over existing financing. Moreover, conwert will 
receive a new long-term core shareholder in the course of this 
transaction.
"As announced previously, we are increasingly acting as a buyer again
in 2010 in order to expand our portfolio selectively. With the 
acquisition which we have now implemented, we have acquired 
top-quality properties with attractive yields and further income 
potential in the inner city of Vienna. Having used treasury shares as
the currency for the acquisition, we are able to increase the 
earnings of the company for our shareholders right from the very 
beginning of the transaction," explains Johann Kowar, Chairman of the
Executive Board. conwert exchanged treasury shares for assets which 
generate an annual rental income of more than EUR 4 million. Treasury
shares are sold at EUR 10.30 per share, thus exceeding the closing 
price of 28 April 2010 (EUR 8.62) by 20%.
The properties taken over comprise two stately apartment buildings in
the first district of Vienna as well as two commercially used 
properties in Vienna and Oberwart. Total usable space amounts to 
roughly 28,000 sqm. The purchasing yield before measures to increase 
value and earnings amounts to 4.35%.
At the same time as this property transaction, Günter Kerbler, Johann
Kowar as well as other members of the management will sell a total of
roughly 6.3 million conwert shares to a consortium led by the 
investment company Petrus Advisers. Günter Kerbler and Johann Kowar 
will reinvest part of the proceeds from the sale of the shares in an 
investment in this consortium. The remaining conwert shares held by 
the management will be syndicated with this consortium almost 
entirely. The Haselsteiner Family Private Foundation will also bring 
its conwert shares (some 4.2 million shares) to the consortium. This 
way, a new core shareholder holding approx. 17% of the voting rights 
in conwert will be created. Existing lock-up obligations will be 
taken over by the new consortium.
Günter Kerbler, founder of conwert, comments: "For conwert a 
financially sound, stable group of core shareholders with long-term 
interests is thus being created. This new syndicate will actively 
support the growth strategy pursued by the management. This means an 
important support and additional opportunities for conwert, 
especially in volatile times."
The closing and thus the definitive legal effect of the contracts is 
expected for the end of May, after the expiry of the legally required
period of 14 days for the publication.
end of announcement                               euro adhoc

Further inquiry note:

conwert Immobilien Invest SE
Peter Sidlo, Head of Corporate Communications - Investor Relations
T +43 / 1 / 521 45-250
E sidlo@conwert.at

Metrum Communications GmbH
Roland Mayrl
T +43 / 1 / 504 69 87-331
E r.mayrl@metrum.at

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wien / official market

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