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18.03.2003

Changes in the Managing Board and Supervisory Board of Bank Austria Creditanstalt

A number of changes in the Managing Board and the Supervisory Board of Bank Austria Creditanstalt will become effective on 31 March 2003:

Gerhard Randa, 58, will become Chairman of the Supervisory Board of Bank Austria Creditanstalt. In his capacity as member of the HVB Group's Board of Managing Directors with responsibility for the business segment comprising Austria and CEE (Central and Eastern Europe), he will continue to be closely involved in the activities of Bank Austria Creditanstalt. Gerhard Randa: "In my new role I will remain fully responsible for the results of Bank Austria Creditanstalt."

Karl Samstag, who has so far been Deputy Chairman of the Managing Board, will succeed Gerhard Randa in the position of Chairman of the Managing Board of Bank Austria Creditanstalt. Karl Samstag, 58, joined the Managing Board of what is now Bank Austria Creditanstalt in 1991. He has been responsible on the Managing Board for the bank's corporate banking activities for many years, and has gained strong expertise in customer business. His objective is to make more intensive use of this expertise in the coming years to support the customer campaign launched by Bank Austria Creditanstalt. Gerhard Randa: "Karl Samstag and I will work together very closely. He will be in charge of the bank's operating activities and I will be closely involved in all questions regarding strategy and investment policy."
 
Karl Samstag's previous responsibilities – corporate banking in Austria and business with institutional customers in the real estate sector – will be taken over by two new members of the Managing Board: Regina Prehofer and Willibald Cernko.

 Regina Prehofer, 46, will be responsible for business with major corporates and with institutional customers in the real estate sector. She joined Creditanstalt in 1987 and now becomes the first woman to be appointed as a member of the Managing Board of Bank Austria Creditanstalt. At present she is Head of the Corporate Customers Division of Bank Austria Creditanstalt.

Willibald Cernko, 46, is currently Head of the CEE Division. With effect from 1 April he will be responsible at Managing Board level for corporate and retail banking in Austria. Willibald Cernko worked in the former Creditanstalt and has been active for the Bank Austria Creditanstalt Group for 18 years.

Another new member of the Managing Board of Austria's largest bank will be Helmut Gropper, 47. He will perform the function of Chief Financial Officer (CFO). Most recently, Helmut Gropper headed the Budget Department at the Bavarian State Ministry of Finance and he was a member of the Supervisory Board of Bayerische Hypo- und Vereinsbank AG.

Friedrich Kadrnoska, 51, will assume responsibility for business development in Central and Eastern Europe. He is an experienced banker and has been a member of the Managing Board since 1995. In addition to his current responsibilities – equity interest management and human resources – Friedrich Kadrnoska will take over the function of Deputy Chairman of the Managing Board.

Wolfgang Haller, 51, who is currently responsible for retail banking operations, will become Chief Operating Officer (COO). He held this position on the Managing Board of Bank Austria Creditanstalt from 1997 to 2001. Moreover, this change reflects the fact that Wolfgang Haller recently became active in this area as a divisional board member at HVB Group level.

Jochen-Michael Speek, 54, who has so far been Chief Operating Officer, will leave the Managing Board of Bank Austria Creditanstalt. Jochen-Michael Speek, who made a significant contribution to the successful merger of Bank Austria and Creditanstalt completed last summer, will take up a new function outside the HVB Group.

The responsibilities of Willi Hemetsberger, 44, (Chief Market Officer) and Erich Hampel, 52, (Chief Risk Officer) remain unchanged. In the future, the Managing Board of Bank Austria Creditanstalt will have eight members. Two of them have a dual function within the HVB Group (Wolfgang Haller and Willi Hemetsberger). Gerhard Randa: "With these changes we now have a clearly defined management structure in the HVB Group and in Bank Austria Creditanstalt. And our best young managers have taken over important management functions."

There will also be changes in the Supervisory Board of Bank Austria Creditanstalt. Gerhard Randa will become Chairman of the Supervisory Board, succeeding Albrecht Schmidt in this function. New members of the Supervisory Board will be Franz Rauch, an Austrian industrialist, and Armin Fehle. Both were members of the Supervisory Board of the former Creditanstalt. Michael Mendel, who is a member of the Board of Managing Directors of the HVB Group, will also become a member of the Supervisory Board of Bank Austria Creditanstalt. He was a member of the bank's Managing Board for one year. Dieter Rampl, Spokesman of the Board of Managing Directors of the HVB Group, and Albrecht Schmidt will resign from the Supervisory Board of Bank Austria Creditanstalt. 


Enquiries: Bank Austria Creditanstalt Group Public Relations
Martin Hehemann, tel. +43 (0)5 05 05 57007; e-mail: martin.hehemann@ba-ca.com