EANS-News: OVB Holding AG / Initial quarter of 2009: OVB continues to expand its customer and advisor base in a difficult market environment

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companies/Results 3 M/2009

Köln (euro adhoc) - Consolidated sales reach EUR54.6 million -
Earnings before interest and taxes of EUR4.1 million - Consolidated
net income amounts to EUR3.2 million - Customer focus on classical
pension provision products

Cologne, 14 May 2009 - OVB Holding AG has altogether held its own
well in an environment dominated by the financial market crisis.
"However, OVB is also no island," says Michael Frahnert in his
summary of the first quarter of 2009. "What is more, the first three
months of 2009 have to compete against the same months of the
previous year which were very strong."

In an environment which was challenging as had been expected, a poor
start to the year also left its mark on OVB in terms of sales and
earnings despite a significant recovery trend in March. At EUR54.6
million, consolidated sales were 21.4% below the previous year's
record sum of EUR69.4 million. Sales development in Germany proved
pleasingly robust at EUR21.4 million, down just 7.9% on the previous
year's sound figure of EUR23.2 million. In Central and Eastern Europe
a massive sales slump of bank-related products resulted in a 33.2%
fall in overall sales to EUR21.7 million, while Southern and Western
Europe also did not escape the downward trend. Sales here fell to
EUR11.6 million from EUR13.8 million in the previous year. The reason
for the drop in sales lay particularly in developments in Austria:
With the preceding years here having been marked by a focus on
products based on equities and real estate, the high level of caution
being shown towards these long-term forms of investment is now being
felt. Consulting activity with private clients has also suffered
significantly from a loss of confidence here that has been triggered
by other market participants.

The Group's operating income (EBIT) fell by 59.4% to EUR4.1 million.
This development was influenced by negative currency effects, ongoing
investments in sales as part of the long-term growth strategy and
expenses incurred from the Europeanisation of IT. Central and Eastern
Europe contributed EUR3.8 million (previous year: EUR6.6 million),
Germany (by and large unchanged on the previous year) EUR2.7 million
and Southern and Western Europe EUR0.5 million (previous year: EUR2.3
million) to the Group's EBIT. The EBIT margin in the first three
months of 2009 accordingly reached 7.5%.

Consolidated net income in the period under review amounted to EUR3.2
million, down from EUR7.8 million in the same quarter of the previous
year. Basic earnings per share fell year-on-year from EUR0.55 to
EUR0.23.

The number of customers continued to develop positively in the first
quarter. Across Europe OVB registered a 4.9% increase in new
customers over the same period. Alongside a strong concentration on
existing customers seeking advice, OVB also increased the number of
its new customers by 11,892 in the months from January to March, with
the Europe-wide customer base expanded from 2.773 million to 2.784
million. At 4,957, the number of financial advisors working for OVB
is somewhat up on the previous year (4,939). A fall in the number of
advisors in Germany by the end of 2008 that was entailed due to
registration restrictions was offset by an increase in the first
quarter of 2009 that is expected to hold on as the year proceeds.

Since March 2009 there have been noticeable recovery trends in the
course of business. Owing to the financial and banking crisis, our
customers' investment behaviour and requirements in terms of quality
of advice and products have changed significantly. Classical pension
provision products offering transparency are on the advance. Thanks
to its flexible business management and close cooperation with a
large number of renowned product partners, OVB is able to provide
this market trend with seamless support.

While OVB is assuming that it has now passed the bottom, there can be
no doubt that the current year still poses a challenge. From the
current perspective, sales and earnings in 2009 will remain below the
level of the previous year. However, OVB is confident of more or less
reaching the levels of 2007 with both these key variables on the back
of more stringent cost discipline and a further recovery of customer
demand.

About the OVB Group

OVB Group, with its holding company headquartered in Cologne, is one
of the leading European financial sales organisations. Since the
formation of OVB Vermögensberatung AG in Germany in 1970,
customer-oriented consulting for private households in the areas of
insurance coverage, asset building and appreciation, pension
provision and real estate acquisition have formed the focus of OVB's
business activities. OVB currently advises 2.8 million customers
across Europe, working in cooperation with over 100 renowned product
partners. OVB is presently active in 14 countries, with more than
4,900 full-time financial consult-ants working for the Group. In
2008, OVB Holding AG - which has been listed on the Frankfurt Stock
Exchange (Prime Standard) since July 2006 - and its subsidiaries
generated total sales commission of EUR260.2 million and EBIT of
EUR28.8 million.

The Annual General Meeting of OVB Holding will be held in Cologne on
12 June 2009.

A presentation and the Interim Report First Quarter 2009 can be
downloaded from the Investor Relations section of www.ovb.ag.

This IR release is also available on the Internet at: www.ovb.ag /
Investor Relations / Financial Publications / IR Releases

Key figures of OVB Group 3M/2009

|Key operating figures|Unit |Q1/2008 |Q1/2009 |Change |
|Clients (31/03) |Number |2.65 |2.78 |+ 4.9% |
| |million | | | |
|Financial advisors |Number |4,939 |4,957 |+ 0.4% |
|(31/03) | | | | |
|New business |Number of |151,999 |123,576 |- 18.7% |
| |contracts | | | |
|Total sales |Euro |69.4 |54.6 |- 21.4% |
|commission |million | | | |

|Key financial figures|Unit |Q1/2008 |Q1/2009 |Change |
|Earnings before |Mio. Euro |10.0 |4.1 |- 59.4% |
|interest and taxes | | | | |
|(EBIT) | | | | |
|EBIT margin* |% |14.5 |7.5 |- 7.0%-pts.|
|Consolidated net |Mio. Euro |7.8 |3.2 |- 58.9% |
|income | | | | |
|Earnings per share |Euro |0.55 |0.23 |- 58.9% |
|(undiluted) | | | | |

* Based on total sales commission

Key figures per region 3M/2009

| |Unit |Q1/2008 |Q1/2009 |Change |
|Central and Eastern | | | | |
|Europe | | | | |
|Clients (31/103) |Number |1.66 |1.77 |+ 6.6% |
| |million | | | |
|Financial advisors |Number |2,858 |2,972 |+ 4.0% |
|(31/03) | | | | |
|Total sales |Euro |32.4 |21.7 |- 33.2% |
|commission |million | | | |
|Earnings before |Euro |6.6 |3.8 |- 42.0% |
|interest and taxes |million | | | |
|(EBIT) | | | | |
|EBIT margin* |% |20.2 |17.6 |- 2.6%-pts.|
|Germany | | | | |
|Clients (31/03) |Number |688,300 |693,798 |+ 0.8% |
|Financial advisors |Number |1,303 |1,234 |- 5.3% |
|(31/03) | | | | |
|Total sales |Euro |23.2 |21.4 |- 7.9% |
|commission |million | | | |
|Brokerage income |Euro |17.4 |15.5 |- 10.9% |
| |million | | | |
|Earnings before |Euro |2.8 |2.7 |- 6.0% |
|interest and taxes |million | | | |
|(EBIT) | | | | |
|EBIT margin* |% |12.2 |12.5 |+0.3%-pts. |
|Southern and Western | | | | |
|Europe | | | | |
|Clients (31/03) |Number |300,900 |321,250 |+ 6.8% |
|Financial advisors |Number |778 |751 |- 3.5% |
|(31/03) | | | | |
|Total sales |Euro |13.8 |11.6 |- 16.3% |
|commission |million | | | |
|Earnings before |Euro |2.3 |0.5 |- 79.1% |
|interest and taxes |million | | | |
|(EBIT) | | | | |
|EBIT margin* |% |16.8 |4.2 |- |
| | | | |12.6%-pts. |

* Based on total sales commission

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OVB Holding AG
Heumarkt 1
50667 Cologne
Germany

IR Contact:

Brigitte Bonifer
Investor Relations

Phone: +49(0)221 / 2015-288
Fax: +49(0)221 / 2015-325

bbonifer@ovb.de
ir@ovb.ag
Internet: www.ovb.ag

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

Further inquiry note:

Brigitte Bonifer

Investor Relations

Tel.: +49 (0)221 2015 288

E-Mail: bbonifer@ovb.de

Branche: Financial & Business Services
ISIN: DE0006286560
WKN: 628656
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade