Information for shareholders

As announced in UniCredit's press release of 25 October 2005 (supplementing the BA-CA Offer Document), it is envisaged that, after the takeover of HVB by UniCredit, Bank Austria Creditanstalt AG will take over UniCredit's entire CEE activities including those in Turkey and also the activities in Russia and the Baltics. This would substantially strengthen the CEE network of Bank Austria Creditanstalt. The entire Bank Austria Creditanstalt Group would benefit from the transfer to Bank Austria Creditanstalt of these activities in the CEE growth region. The Managing Board would welcome such an enhancement of Bank Austria Creditanstalt's network in the interests of the bank's shareholders, customers and employees, and also in the interests of Vienna as a business location.

UCI aims to establish a clear and uniform structure in the new UCI Group. As part of this structure, management responsibility for business in Austria – to be placed in a subsidiary - will be separated from management responsibility for business in CEE – under the roof of BA-CA. Moreover, talks are being held on combining asset management and investment banking operations in the new UCI Group. This will result in significant economies of scale, which will benefit our customers and BA-CA as well.

The Managing Board of Bank Austria Creditanstalt AG proceeds from the understanding that this is the primary target structure envisaged by UniCredit. The Managing Board of BA-CA sees this structure as a big opportunity for the BA-CA Group.

The implementation of the envisaged target structure will depend on negotiations to be held between the current and future contracting parties on the structure of the Bank Austria Creditanstalt Group in the new UniCredit Group. The Managing Board is convinced that the forthcoming talks will lead to a good solution in the bank's interest.

The Managing Board