euro adhoc: voestalpine AG / Mergers - Acquisitions - Takeovers / voestalpine publishes cash settlement offer for BÖHLER-UDDEHOLM AG

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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C.E.O. Interviews

15.05.2008

Reasonable cash settlement payment at EUR 70.26 per share.

As already announced in March 2008, at the Annual General Meeting of
BÖHLER-UDDEHOLM AG on 23 June 2008, voestalpine AG will, pursuant to
the Austrian Minority Shareholder Squeeze Out Act, move to transfer
the shares of all shareholders other than the main shareholder
voestalpine AG against payment of a reasonable cash settlement to
voestalpine AG (in other words, to perform a "squeeze out").

In a joint report, the Management Board of BÖHLER-UDDEHOLM AG and its
main shareholder voestalpine AG have now set the amount of reasonable
cash settlement payment at EUR 70.26 per share. The cash settlement
contains the accumulated profits attributable to each individual
share for the company´s 2007 business year and the 2008 short
business year (01 Jan - 31 Mar 2008). Therefore, no separate payment
of any dividends is contemplated.

The reasonable cash settlement is based on an expert appraisal
furnished by Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. and
commissioned by voestalpine AG and BÖHLER-UDDEHOLM AG, providing a
valuation of BÖHLER-UDDEHOLM AG as of 23/24 June 2008. The
reasonableness of the cash settlement payment and the correctness of
the joint report of the Management Board and of the main shareholder
of BÖHLER-UDDEHOLM AG have been confirmed by a court-appointed expert
auditor, PwC Transaction Services Wirtschaftsprüfung GmbH.

The Supervisory Board of BÖHLER-UDDEHOLM AG will review the squeeze
out at its meeting of 19 May 2008 and issue a report thereon. As from
20 May 2008, BÖHLER-UDDEHOLM AG will make all of the documents
required pursuant to law available to the shareholders in the form
required pursuant to the Austrian Minority Shareholder Squeeze Out
Act.

Further details as to the publication is available on
www.voestalpine.com or please contact the Investor Relations Team of
voestalpine AG under +43/50304/15-9949 for any further details.

end of announcement euro adhoc
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ots Originaltext: voestalpine AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

DI Peter Fleischer

Head of Investor Relations

Tel.: +43/50304/15-9949

Fax: +43/50304/55-5581

mailto:peter.fleischer@voestalpine.com

http://www.voestalpine.com

Branche: Metal Goods & Engineering
ISIN: AT0000937503
WKN: 897200
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official market