EANS-Adhoc: ECO Business-Immobilien AG / Friedrich Scheck resigns as CEO

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16.10.2009

ECO Business-Immobilien AG: Friedrich Scheck
resigns as CEO

Vienna, 16 October 2009. The Supervisory Board of ECO
Business-Immobilien AG announces that Friedrich Scheck has announced
his resignation as chief executive officer of ECO Business-Immobilien
AG effective on 31 December 2009. As of this same date he will also
resign as the managing director of ECO Management GmbH, a wholly
owned subsidiary of the conwert Immobilien Group.

Alexander Schoeller, chairman of the Supervisory Board of ECO
Business-Immobilien AG, accepted the resignation of Friedrich Scheck
with regret: "Under the direction of Mr. Scheck ECO has established a
position as a well-known Austrian business property company that is
listed in the Prime Market segment of the Vienna Stock Exchange. ECO
is well positioned for the future with an attractive property
portfolio, a 40% equity ratio and a sound financing situation that is
characterised by stable long-term interest rates. We regret this
personal decision by Mr. Scheck, but respect his decision to focus on
new professional challenges. The CEO is leaving the company in a
stable and well-ordered financial position. The Supervisory Board is
optimistic that an adequate solution to the issue of succession will
soon be found. I would like to wish Mr. Scheck the very best for his
future professional activities and thank him for his previous
commitment".

On his new professional direction, CEO Friedrich Scheck commented:
"Since the founding of the company in 2003, my team and I have
transformed ECO into a serious market player. Against the backdrop of
the global financial and economic crisis, we resized the company
during the past 12 months and stabilised the liquidity and financing
situation - which made it possible for us to master the most
difficult market situation in decades. The further solid development
of the company is now secure, and the time has come to turn my
attention to new challenges in my role as a certified public
accountant and property entrepreneur."

Ende der Mitteilung euro adhoc
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ots Originaltext: ECO Business-Immobilien AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Hochegger Financials

Roland Mayrl

Tel.: +43(1) 504 69 87-331

mailto:r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Prime.market
Börsen: Wien / Regulated free trade