EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / Resolution to transfer the banking business of Österreichische Volksbanken-Aktiengesellschaft (VBAG) to Investkredit Bank AG by way of de

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

Company Information

15.04.2011

Resolution to transfer the banking business of Österreichische
Volksbanken-Aktiengesellschaft (VBAG) to Investkredit Bank AG by way
of de-merger planned for 19 May 2011. Core shareholders of VBAG
intend to acquire EUR 300 million of participation capital held by
the Republic.

It is planned that in the General Assembly on 19 May 2011 a
resolution will be passed on the transfer of VBAG´s banking business
to Investkredit Bank AG by means of a proportional de-merger. The
draft of the de-merger agreement stipulates (as set forth in detail
in the agreement) that VBAG as transferor company intends to transfer
its banking business to Investkredit Bank AG as assuming company by
way of an universal succession. The remaining EUR 700 million of the
state participation capital will be transferred to Investkredit Bank
AG. The company name of the unified bank will be changed to
Österreichische Volksbanken-AG. The de-merger is subject to approval
by the General Assemblies of both companies involved and by the FMA
(Austrian Financial Market Authority).The de-merger will be legally
effective when registered in the commercial register at the Vienna
Commercial Court which is expected to take place in the second half
of 2011. A separate notice will be published pursuant to the Austrian
De-Merger Act regarding the disclosure of the de-merger agreement as
required by law. The core shareholders of VBAG made the fundamental
decision on 15 April 2011 to acquire in 2011 part of the
participation capital of the Republic of Austria in an amount of EUR
300 million. This decision is subject to final approval by the
General Assembly in 2011 May.

Stock exchange listed issues of participation capital issued by
Österreichische Volksbanken-Aktiengesellschaft: ISIN: AT0000755665
Österreichische Volksbanken-AG PartizipationsscheineXS0359924643 EUR
500,000,000 Perpetual Non Cumulative Participation Capital
Certificates

The five biggest listed issues of Österreichische Volksbanken-Aktiengesellschaft
in terms of issue volume:
ISIN:
XS0451759012
XS0417722393
XS0412533399
XS0271095357
AT000B053442

The issues of Österreichische Volksbanken-Aktiengesellschaft are
admitted on the following stock exchanges: Regulated unofficial
market of Wiener Börse AG Official trading of Wiener Börse AG EUWAX
segment of Baden-Württembergische Wertpapierbörse Regulated market of
Baden-Württembergische Wertpapierbörse Regulated market of the Prague
Stock Exchange Regulated market of the Luxembourg Stock Exchange Open
Market of Berlin Stock Exchange Open Market of Stuttgart Stock
Exchange Open Market of Frankfurt Stock Exchange

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: Österreichische Volksbanken-Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Ansprechpartner:

Walter Gröblinger

Tel.: +43/ (0) 50 4004-0

E-Mail: walter.groeblinger@volksbank.com

Branche: Banking
ISIN: AT0000755665
WKN:
Index: Standard Market Auction
Börsen: Prague Stock Exchange / stock market
Wien / official market