euro adhoc: conwert Immobilien Invest SE / Buybacks / conwert Immobilien Invest SE starts further share buyback

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25.08.2008

conwert Immobilien Invest SE starts further share buyback

Vienna, 25.08.2008. The extraordinary general meeting of conwert
Immobilien Invest AG on 25 October 2007 authorised the Management
Board to repurchase the company´s shares up to the legally defined
maximum of 10% of issued capital. This authorisation is valid for a
period of 18 months beginning on the date the resolution was passed.
In this connection, the general meeting also confirmed the validity
of the authorisation for conwert Immobilien Invest SE after the
change in the company´s legal form. The resolution was published on
the conwert website under www.conwert.at on 25 October 2007. conwert
has already utilised this authorisation in part, purchasing 3,882,361
shares of common stock or 4.548% of share capital in a first share
buyback programme from 31 January 2008 to 30 June 2008. The
Administrative Board of conwert has decided to again make use of the
authorisation issued by the annual general meeting up to the maximum
amount permitted under law, and has defined the following share
buyback programme:

+ Duration: 29.08.2008 to 25.04.2009 at the latest
+ Class of shares: Common shares

+ Planned volume: Up to 5.452% of share capital, therefore
a maximum of 4,653,566 common shares
+ Purchase price: EUR 8.00 to EUR 13.00 per share
+ Form of purchase: Over the Vienna Stock Exchange
+ Purpose: For the purpose permitted by § 65 (1) 8 of the
Austrian Stock Corporation Act, in particular for use
in the acquisition of companies and properties

The Administrative Board approved this additional buyback because the
current market price of the company´s share is roughly 40% below its
book value (NAV) per share and therefore still presents a favourable
opportunity to purchase treasury stock, among others, for use in
acquisitions. Any changes as well as the transactions carried out as
part of the share buyback programme will be published on the website
of conwert Immobilien Invest SE under www.conwert.at in accordance
with the Austrian Stock Corporation Act and the relevant publication
directive.

end of announcement euro adhoc
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ots Originaltext: conwert Immobilien Invest SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

conwert Immobilien Invest SE, Peter Sidlo, Head of Corporate Communications,

T +43 / 1 / 521 45-250, E sidlo@conwert.at

Hochegger|Financials, Roland Mayrl, T +43 / 1 / 504 69 87-31,

E r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wiener Börse AG / official dealing