euro adhoc: Warimpex Finanz- und Beteiligungs AG / Annual & Special Corporate Meetings / Warimpex AGM approves issue of convertible bonds and expands Supervisory Board

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31.05.2007

Warimpex AGM approves issue of convertible bonds and expands
Supervisory Board . Issue of convertible bonds within 5 years . Four
new members appointed to Supervisory Board . Alarich Fenyves new
Chairman of Supervisory Board

Today's Annual General Meeting of Warimpex Finanz- und
Beteiligungs AG in Vienna established the prerequisites for a
convertible bond offering and expanded the group's Supervisory
Board. Alarich Fenyves will be the new chairman of the
Supervisory Board, with former chairman Heinrich Geyer as his
deputy.

At today's AGM the shareholders authorised the Management Board to
issue within the next five years convertible bonds granting a
conversion or subscription right to up to 9 million shares,
representing up to EUR 9m of the company's paid-up share
capital. All further conditions together with the details of the
issue and conversion procedure will be defined by the Management
Board with the Supervisory Board's consent. The subscription right
of shareholders was waived in order to keep the company's financing
costs down and allow it to target the offering at the group of
institutional investors in the capital market specialising in
convertible bonds.

Changes in the Supervisory Board

Gert Hoppe, a member of the Supervisory Board since 2003, stepped
down from his mandate, which will be taken over by Friedrich Grassi
for the remaining term of one year. A business associate of Warimpex
since as early as 1989, Grassi was the company's partner in the
development of the Hotel Diplomat in Prague and numerous other
joint venture projects.

In addition, four further new members were elected to the Supervisory
Board:

. Alicja Kornasiewicz, member of the Management Board of CA IB
Corporate Finance GmbH in Vienna and CEO of UniCredit CA IB Polska
S.A., . Alarich Fenyves, former deputy CEO of Creditanstalt AG,
partner at Roland Berger Strategy Consultants in Vienna
since 2001 and member of the Supervisory Board of CA Immo
International AG, . William Henry Marie de Gelsey, Senior Advisor at
CA IB Corporate Finance Ltd. since 2007, . Wolfgang Mitterberger,
member of the Management Board of Raiffeisen Wohnbaubank AG
since 2000.

The mandates of the newly elected members of the Supervisory Board
run until the close of the Annual General Meeting for the
financial year 2011. The Warimpex Supervisory Board now numbers
eight members.

end of announcement euro adhoc 31.05.2007 15:30:00
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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00-0
Christoph Salzer
mailto:presse@warimpex.com
Daniel Folian, mailto:investor.relations@warimpex.com
www.warimpex.com

Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market