EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / Preparation of buyback programme for non-subordinated liabilities has begun

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Strategic management decisions/C.E.O. Interviews
24.06.2015

Oesterreichische Volksbanken-Aktiengesellschaft, Kolingasse 14-16,
1090 Wien, company register number 116476p (VBAG) is now in the
process of preparing for the demerger and continued operation of VBAG
as a wind-down entity pursuant to Section 162 of the Federal Act on
the Recovery and Resolution of Banks (Bundesgesetz über die Sanierung
und Abwicklung von Banken). The regulatory and official approvals
needed for this purpose are not yet available. Concerning the
envisaged procedure for the demerger and continued operation of VBAG
as a wind-down entity, VBAG refers to information published on its
website.

Provided the demerger is legally effective and the continued
operation of VBAG as a wind-down entity is approved by the relevant
authorities, VBAG must reduce the portfolio optimally and as quickly
as possible. Therefore, VBAG's Managing Board has today prudentially
decided to begin preparing a buyback programme for liabilities. In
this context, VBAG is also publishing updated information about the
institution, particularly planning assumptions for those business
areas that will remain part of the wind-down entity "immigon
portfolioabbau ag" after the demerger. Due to the fact, that the
demerger of VBAG is still subject to regulatory approval, and it will
not be known until the end of the 2015 business year whether the
planning assumptions have been realised, no definite statement can be
made at the present time regarding the development of earnings set
out in the planning.

The information mentioned above is available on VBAG's website,
http://www.volksbank.com/investor-relations under Group
information/Presentations. VBAG will continually update this
information about the institution and publish it on VBAG's website as
appropriate. Any buyback will take place by way of a public offer to
investors and will only concern non-subordinated liabilities. VBAG
will make a separate announcement in due course regarding the actual
implementation of a buyback programme, including the liabilities
concerned.

Listed participation capital issues of Österreichische
Volksbanken-AG:

ISIN: AT0000755665 Österreichische Volksbanken-AG
Partizipationsscheine XS0359924643 EUR 500,000,000 Perpetual Non
Cumulative Participation Capital Certificates (issued on a fiduciary
basis by Banque de Luxembourg)

The five largest listed issues of Österreichische Volksbanken-AG by
issuance volume:

ISIN:
AT000B056544
AT000B053442
AT000B121884
AT000B121868
XS0275528627

The issues of Österreichische Volksbanken-AG are admitted on the
following stock exchanges: Second Regulated Market of Wiener Börse AG
Official trading of Wiener Börse AG 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:
Pressekontakt:
Petra Roth
Österreichische Volksbanken-AG
Mobil: 0664 6129223
Mail to: petra.roth@volksbank.com

Kontakt Institutional Investor Relations:
Karl Kinsky: 0043 504004-3338
Manuela Elsensohn-Pauser: 0043 504004-3187
Mail to: investorrelations@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
language: English