EANS-Adhoc: Kommunalkredit Austria AG / Partial sale of Kommunalkredit: Value of special rights

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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other
26.06.2015

Other issues
26/06/2015

Kommunalkredit Austria AG (KA), referring to its ad-hoc disclosures
dated 11/08/2014 and 13/03/2015 and based on the decisions taken by
the Supervisory Board today, 26/06/2015, notifies the following:

The Supervisory Board of KA, at its meeting today, adopted the
following decisions: - Demerger of the entire business operations of
KA (incl. all its subsidiaries) with parts of its assets and
liabilities by way of a proportionate demerger into a newly
incorporated company (KA New); - Merger of the part of KA remaining
after the demerger (KA Residual) into KA Finanz AG (KF); -
Compensation for the rights of holders of special rights under
section 15 (5) Austrian Demerger Act (Spaltungsgesetz, SpaltG) as
follows:

ISIN Special right Instrument Nominal in EUR Compensation
in % of nominal
XS0495993668 Supplementary capital 2,417,000 55%
XS0495988072 Supplementary capital 6,042,500 45%
XS0493857576 Participation capital 90,033,250 25%
- Participation capital 12,085,000 25%
- Participation capital 36,255,000 25%

The participation capital in a nominal value of EUR 12,085,000 and EUR
36,255,000 is securitised by participation capital certificates issued by Banque
de Luxembourg, a Luxembourg bank, with the ISINs XS0285503248 and XS0252707624,
which are quoted on the Luxembourg stock exchange. With respect to the
participation capital in a nominal value of EUR 12,085,000 and EUR 36,255,000,
Banque de Luxembourg acts as trustee of the holders for the participation
capital certificates thus represented pursuant to the Luxembourg Law of
27/07/2003 on trusts and fiduciary contracts.

The implementation of the demerger and the merger, as described
above, is subject to a number of conditions precedent and approvals
to be granted by the General Meetings of KA and KF and by the
competent bank regulators, the European Commission and other
authorities.

ISIN:
AT0000329859; XS0104786263; XS0163624504; XS0180539420; XS0186736228;
XS0187975262; XS0205974701; XS0210167218; XS0213230047; XS0214564972;
XS0214981812; XS0215839019; XS0215865287; XS0218474533; XS0219327524;
XS0235597068; XS0236776877; XS0241451581; XS0252593198; XS0252707624;
XS0252786669; XS0253410236; XS0255439803; XS0261832942; XS0267998481;
XS0270872640; XS0271821513; XS0285503248; XS0299062389; XS0302365134;
XS0340901908; XS0495988072; XS0592235187; XS0973424152; XS1003354252;
XS1016032457; XS1017111029; XS1020014608; XS1033673440; XS1040273267;
XS1045121784; XS1045221063; XS1046170699; XS1072804484; CH0020669583;
CH0022280058; CH0024015452; CH0025662831

Stock exchanges:
Vienna, Luxembourg, Zurich

For further information, please contact:
Kommunalkredit Austria AG
Investor Relations
Dinah Reiss
1092 Wien/Vienna, Türkenstraße/Tuerkenstrasse 9
Tel./Phone: +43/1/31 6 31-678
Fax: +43/1/31 6 31-505 oder/or 99678
Mail: d.reiss@kommunalkredit.at
WWW: www.kommunalkredit.at

Issuer: Kommunalkredit Austria AG
Türkenstraße 9
A-1092 Wien
Telefon: +43/1/31 6 31
Fax: +43/1/31 6 31-105
Mail: kommunal@kommunalkredit.at
WWW: www.kommunalkredit.at

Sector: Banks ISIN: - Indices: Stock exchanges: Vienna Stock
Exchange, Luxembourg Stock Exchange, Swiss Stock Exchange Language:
English

Further inquiry note:
Kommunalkredit Austria AG
Dinah Reiss
Investor Relations
1092 Wien, Türkenstraße 9
Tel.: +43 (0) 1/31 6 31-678, Fax: -99678
investorrelations@kommunalkredit.at
www.kommunalkredit.at

end of announcement euro adhoc
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issuer: Kommunalkredit Austria AG
Türkenstraße 9
A-1092 Wien
phone: +43 1 31 6 31
FAX: +43 1 31 6 31 105
mail: kommunal@kommunalkredit.at
WWW: www.kommunalkredit.at
sector: Banking
ISIN: -
indexes:
stockmarkets: stock market: Luxembourg Stock Exchange, Wien, SIX Swiss Exchange
language: English