EANS-Adhoc: Amendment of a previously released ad-hoc announcement: C-QUADRAT Investment AG / Buyback program of own shares

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update to an 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.
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buyback programm of won shares

27.05.2011

Amendment of a previously released ad-hoc announcement / C-QUADRAT
Investment AG: Annual General Meeting extends share buyback
authorization / amendment of current share buyback program

Vienna / Frankfurt, May 27, 2011 In an ad-hoc statement made on March
28, 2011 via euro adhoc, C-QUADRAT Investment AG (ISIN AT0000613005)
announced a share buyback program.

At today´s Annual General Meeting, C-QUADRAT Investment AG revoked
the management board´s current share buyback authorization pursuant
to the shareholders´ resolution of December 11, 2008 and
re-authorized the management board to acquire non-par bearer shares
of up to 10% of C-QUADRAT´s share capital. This authorization shall
be valid for a period of 30 months starting on the day the resolution
was passed; the minimum share purchase price is EUR 1, the maximum
price EUR 40. The management board has furthermore been authorized to
withdraw any bought back shares without requiring a further
shareholders´ resolution. In addition, the Annual General Meeting
authorized the management board to resell own shares in ways other
than via the stock exchange or by public offer while excluding the
shareholders' subscription right. This requires the approval of the
supervisory board pursuant to § 65 (1b) of the Austrian Stock
Corporation Act (AktG). A further shareholders´ resolution is not
required.

Amendment of the current share buyback program

Based on the extension of the share buyback authorization resolved by
the Annual General Meeting today, the management board decided to
amend both the duration (line 3) and the intended volume (line 5) of
the share buyback program as announced on March 28, 2011.

The share buyback program has been extended and will end no later
than May 31, 2013. The intended volume of the share buyback has been
raised to a total of 436,320 units which is consistent with 10% of
the company´s current share capital. The share buyback program
remains unchanged in all other respects.

original announcement:

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keywords Buybacks/buyback programm of won shares

EANS-Adhoc: C-QUADRAT Investment AG / Buyback program of own shares

28.03.2011

Vienna / Frankfurt, 28 March 2011. At the extraordinary Shareholders´
Meeting of C-QUADRAT Investment AG, held on 11 December 2008, the
Management Board of the Company was authorised, in accordance with
Art 65 para 1 sect 8 of the Austrian Joint Stock Corporation Act
(Aktiengesetz, AktG), to acquire own non-par value bearer shares in
the Company up to an extent of 10 percent of the current share
capital of C-QUADRAT Investment AG within 30 months from the date of
the resolution of the shareholders for a price of between EUR 1
minimum and EUR 40 maximum per single share. The Management Board of
C-QUADRAT Investment AG resolved to acquire shares in the Company in
accordance with this authorisation as follows:

Details on the share buyback program pursuant to Art 5 para 2 of the
Austrian Disclosure Regulation 2002 (Veröffentlichungsverordnung):

1. The resolution of authorising the share buyback program was
approved by the Shareholders´ Meeting dated 11 December 2008.

2. The resolution of authorising the share buyback program was
published in accordance with Art 82 para 8 and 9 of the Austrian
Stock Exchange Act (Börsegesetz, BörseG) on 11 December 2008.

3. The share buyback program commences on 1 April 2011 and is
anticipated to continue until (including) 10 June 2011.

4. The share buyback program concerns non-par value bearer shares of
C-QUADRAT Investment AG (ISIN AT0000613005).

5. The current share capital of the Company amounts to EUR 4,363,200
and is divided into 4,363,200 shares at a par value of EUR 1. The
intended volume of the repurchase of the Company´s own shares
includes to purchase up to 100,000 non-par value bearer shares -
corresponding to 2.3 % (in rounded terms) of the current share
capital - on the Vienna Stock Exchange and/or the Frankfurt Stock
Exchange.

6. According to the resolution of the Shareholders´ Meeting the
counter-value at the respective date of acquisition has to be within
a range of EUR 1 minimum and EUR 40 maximum per single share.

7. The main purpose of the share buyback program is the possible use
of own shares for future acquisitions. Furthermore, the Management
Board may use the own shares to issue shares to employees, management
staff or members of the Management Board of C-QUADRAT Investment AG
or an associated company within the framework of a present or
possible future employee share option program. Furthermore, the
Management Board is entitled to withdraw the repurchased own shares.
In addition, the Management Board is authorised to purchase own
shares for any other legal purpose and to withdraw purchased shares
without any further resolution passed by the general shareholders´
meeting. Trading with own shares for profit purposes is excluded.

8. The share buyback program is implemented in accordance with the
provisions laid down in the Commission Regulation no. 2273/2003 of 22
December 2003, OJ L336/33 of 23 December 2003 (the "Regulation"),
where applicable including a credit institution pursuant to Art. 6
(3) Sec. b of the Regulation. The Management Board points out
pursuant to Art. 5 (3) of the Regulation that the limit of 25 % of
the average daily volume of shares pursuant to Art. 5 (2) of the
Regulation may be exceeded within the scope of the share buyback
program.

9. The share buyback program will not have an effect on the stock
market listing of C-QUADRAT Investment AG.

10. C-QUADRAT Investment AG resolved a stock option program in 2007.
The following persons are entitled to participate in this stock
option program: (i) specific management staff selected by the
Management Board (ii) Management Board members of C-QUADRAT
Investment AG, C-QUADRAT Kapitalanlage AG, the Supervisory Board
chairman of C-QUADRAT Kapitalanlage AG and the Management Board
members of C-QUADRAT Deutschland AG and (iii) Supervisory Board
members of C-QUADRAT Investment AG. To date, none of the entitled
persons has participated in this stock option program. Accordingly,
nor has the Company granted any stock options to date. In case of
their participation, the entitled persons are eligible to receive the
following stock options within the framework of the stock option
program:

Supervisory Board chairman: 40,000
Deputy Supervisory Board chairman: 1,500
Supervisory Board member: 1,000
Management Board member: 5,000
Management staff: 1,000

One stock option confers the right to purchase one item of C-QUADRAT Investment

AG stock. The exercise price for the purchase of stock within the
scope of the stock options amounts to EUR 75 per share. In 2007 the
Company also resolved a conditional capital increase of up to 10 % of
the share capital for the grant of stock options under the Company´s
stock option program.

C-QUADRAT Investment AG intends to fulfill its disclosure obligations
pursuant to Art 6 and 7 of the Austrian Disclosure Regulation 2002 by
publishing the relevant information on the website of the Company
www.c-quadrat.at.

Further inquiry note:
Mag. Andreas Wimmer
Vorstand
C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.at
www.c-quadrat.com

end of original announcement euro adhoc --------------
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sector publicity of original announcement:
2011-03-28 19:17:19 - Bloomberg- sent

2011-03-28 19:17:19 - Bloomberg- sent

end of announcement euro adhoc
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issuer: C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.at
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English

ots Originaltext: C-QUADRAT Investment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Mag. Andreas Wimmer
Vorstand
C-QUADRAT Investment AG
Stubenring 2
A-1010 Wien
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.at
www.c-quadrat.com

Branche: Financial & Business Services
ISIN: AT0000613005
WKN:
Index: Standard Market Auction
Börsen: Frankfurt / official market
Wien / official market