euro adhoc: austriamicrosystems AG / other / austriamicrosystems expects to record significant negative financial result for 2008 from EUR/USD hedging transaction accounting

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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28.11.2008

Unterpremstaetten, Austria (November 28, 2008) — austriamicrosystems
(SWX: AMS), a leading global designer and manufacturer of high
performance analog ICs for communications, industrial, medical and
automotive applications, expects to record a significant negative
financial result for full year 2008 due to a charge for certain
EUR/USD hedging transactions. The negative impact on the company´s
financial result from these transactions is expected to be approx.
EUR 10 million. austriamicrosystems´ expectation of full year 2008
EBIT to be around 10% below last year´s level remains unchanged.

The significant negative effect on the full year 2008 financial and
net result is caused by the unexpectedly strong appreciation of the
USD against the EUR in recent weeks. This development will require
certain option-based EUR/USD hedging transactions to be recognized in
the full year 2008 income statement at a negative value, based on
IFRS accounting regulations. These transactions cover a portion of
the company´s expected future USD revenues for 2009. All EUR/USD
hedging positions have been closed at levels between EUR/USD 1.27 and
1.33 while downward protection for the amount covered by these
transactions remains in place at levels between EUR/USD 1.38 and
1.60.

Recording this negative effect in the financial result for fiscal
year 2008 will, however, allow austriamicrosystems to convert the
future USD revenues covered by these transactions into EUR at the
then prevailing market exchange rates. This will create a meaningful
advantage for the company if the USD stays at or around current
levels or appreciates further over the course of 2009.

Had the company used currency forward transactions instead, the USD
revenues covered by these transactions would have been converted into
EUR at the forward EUR/USD rates fixed for such trans¬actions in
2008. These may be considerably weaker than the prevailing market
exchange rates at the time of conversion in 2009. In this case, the
company would record lower future USD-converted EUR revenues compared
to the current situation which austriamicrosystems therefore regards
as attractive.

austriamicrosystems has no further risk from these hedging
transactions regarding the company´s full year 2008 and future
financials.

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

Further inquiry note:

Moritz M. Gmeiner

Director Investor Relations

Tel: +43 3136 500-5970

Fax: +43 3136 500-5420

Email: investor@austriamicrosystems.com

Branche: Technology
ISIN: AT0000920863
WKN: 632638
Börsen: SWX Swiss Exchange / official dealing