EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / RELATING TO THE RESULTS OF AN INVITATION TO OFFER TO SELL FOR CASH

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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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other
19.12.2012

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO ANY PERSON RESIDENT
AND/OR LOCATED IN THE UNITED STATES OR TO ANY U.S. PERSON

Final results of the invitation to holders of the "EUR 300,000,000
Subordinated Lower Tier II Notes due November 2016" (ISIN:
XS0275528627) issued by ÖSTERREICHISCHE
VOLKSBANKEN-AKTIENGESELLSCHAFT

Österreichische Volksbanken-Aktiengesellschaft announces (i) that the
Regulatory Condition (as defined in the Invitation Memorandum dated
10 December 2012(the "Invitation Memorandum") has been fulfilled and
(ii) the final results of its invitation to the holders of its
outstanding "EUR 300,000,000 Subordinated Lower Tier II Notes due
November 2016" (ISIN: XS0275528627) issued under the Euro
6,000,000,000 Debt Issuance Programme dated 14 June 2006 by the
Issuer (the "Notes") to tender for the purchase for cash (the
"Offer") any and all of the outstanding Notes.

Capitalised terms used in this announcement have the meanings
ascribed to them in the Invitation Memorandum.

The Offer expired at 5.00 p.m. (CET) on 18 December 2012. The Issuer
hereby announces the pricing and acceptance of the Offer as follows:

Aggregate principal amount of Notes accepted: EUR 211,600,000

Purchase Price EUR 37,500 per EUR 50,000 in principal amount
Accrued Interest EUR 33.19 per EUR 50,000 in principal amount

The Settlement Date for the Offer is expected to be 21 December 2012.

Holders of Notes whose offers to purchase have been accepted by ÖVAG
will receive on the Settlement Date EUR 37,533.19 per EUR 50,000
principal amount.

Following the completion of the Offer, the aggregate principal amount
of the Notes that will remain outstanding will be EUR 88,400,000.

For further information: A complete description of the terms and
conditions of the Invitation is set out in the Invitation Memorandum.
Further details about the transaction can be obtained from:
THE JOINT DEALER MANAGERS

BNP Paribas Österreichische Volksbanken-
10 Harewood Avenue Aktiengesellschaft
London NW1 6AA Kolingasse 14-16
United Kingdom 1090 Vienna
For information by telephone: Austria
+44 20 7595 8668 For information by telephone:
Attention: Liability Management Group +43(0)50 4004-3338
email: Attention: Mr Karl Kinsky, MBA
liability.management@bnpparibas.com email: investorrelations@volksbank.com

THE TENDER AGENT
Lucid Issuer Services Limited
Leroy House, 436 Essex Road,
London N1 3QP, England,
Great Britain
For information by telephone: +44 20 7704 0880
Attention: Yves Theis / Paul Kamminga

email:volksbank@lucid-is.com

Neither of the Joint Dealer Managers takes responsibility for the
contents of this announcement. This announcement must be read in
conjunction with the Invitation Memorandum. No Invitation to acquire
any Notes is being made pursuant to this announcement.

The distribution of the Invitation Memorandum in certain
jurisdictions is restricted by law. Persons into whose possession the
Invitation Memorandum comes are required by ÖVAG, the Dealer Managers
and the Tender Agent to inform themselves about, and to observe, any
such restrictions.

The five biggest listed issues of Österreichische
Volksbanken-Aktiengesellschaft in terms of issue volume are: ISIN:
XS0451759012 XS0417722393 AT000B053442 XS0275528627 AT000B061437

The issues of Österreichische Volksbanken-Aktiengesellschaft are
admitted on the following stock exchanges: Second Regulated market of
Wiener Börse AG Official trading of Wiener Börse AG 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

Further inquiry note:
Walter Gröblinger
Tel.: +43/ (0) 50 4004-0
E-Mail: walter.groeblinger@volksbank.com

end of announcement euro adhoc
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issuer: Österreichische Volksbanken-Aktiengesellschaft
Kolingasse 14-16
A-1090 Wien
phone: +43 0 50 4004-0
WWW: www.volksbank.com
sector: Banking
ISIN: AT0000755665
indexes: Standard Market Auction
stockmarkets: Regulated free trade: Wien, stock market: Prague Stock Exchange
language: English