Cerberus-Led Bidder Group Becomes New Owner of BAWAG P.S.K.

Invitation extended to Austrian Post to acquire a stake in the bank

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Wien (euro adhoc) - Austrian post welcomes quick decision to more
intensively use the 1,334 post branches and 535 post partner offices
to safeguard the interests of Austrian customers

Austrian Post welcomes the quick decision of the Austrian Trade Union
Federation to sell BAWAG P.S.K. to the bidder group led by Cerberus,
which also consists of Generali and Wüstenrot. Cerberus has expressed
its interest to further develop BAWAG P.S.K., and to pro-actively
exploit the advantages provided by Austrian Post's distribution
network.

The new owner has made a clear commitment to dynamically expand the
financial services business and positioning of BAWAG P.S.K. as a
"universal bank for private customers and medium-sized businesses"
with attractive products and services. Another designated aim is to
attract new customers and expand the financial institution's market
share by means of more pro-active marketing activities carried out in
cooperation with Austrian Post.

Austrian Post currently offers financial services products of BAWAG
P.S.K. via its own branch network, for which Austrian Post derived an
income amounting to EUR 96m in the year 2005. Austrian Post is
pursuing the goal of further expanding the financial services offered
at its 1,334 company owned branches and 535 post partner offices in
Austria.

Austrian Post intends to hold negotiations with the new owner and the
management of BAWAG P.S.K., designed to intensify its existing
cooperation and ensure its ongoing success on a long-term basis.

Austrian Post aims to exploit the opportunities derived from the
strengths of its distribution network, in order to achieve an
improved market position. Austrian Post considers the invitation
extended to it by the bidder group led by Cerberus to acquire a
minority stake in BAWAG P.S.K. as an opportunity for a profitable and
value enhancing investment, as well as to pro-actively promote a
jointly developed offensive business strategy in the field of
financial services.

On the basis of its nationwide distribution network and in-depth
know-how of the Austrian financial services landscape, particularly
in the private customer and middle-sized business segments, Austrian
Post is convinced of its capability to offer its customers improved
services in the future, for example in regards to insurance or
high-value financial products.

A more intensive use of the 1,334 post branches and the 535 post
partner offices, as well as the integration of the consortium
partners Generali and Wüstenrot, ensure that the sale of BAWAG P.S.K.
will safeguard the interests of Austrian customers.

end of announcement euro adhoc 15.12.2006 08:39:25
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ots Originaltext: Österreichische Post AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Further inquiry note:
Austrian Post
Investor Relations:
Harald Hagenauer
Tel.: +43(1)515 51-30401
mailto:harald.hagenauer@post.at

Corporate Affairs Department
Public Relations
Michael Homola
Tel.: +43(1)515 51-32010
mailto:michael.homola@post.at

Branche: Transport
ISIN: AT0000APOST4
WKN: A0JML5
Index: ATX
Börsen: Wiener Börse AG / stock market