UniCredit Group takes further key steps towards its targeted organization structure

Date of entry: 12/09/2006

UniCredit Group takes further key steps towards its targeted organization structure

- 77.53 percent holding of HVB in BA-CA to be transferred to UniCredit
- Russian IMB and HVB's Baltic operations to be transferred to BA-CA

Today the UniCredit Group has made some further important decisions with regards to the announced reorganisation of the Group.

Overview of all transactions:
HVB to sell its holding in BA-CA to UniCredit
HVB will sell its 77.53% shareholding in Bank Austria Creditanstalt (BA-CA) to UniCredit at a price of EUR 109.81 per share equivalent to a total cash consideration of approximately EUR 12.5 billion. Following this transaction UniCredit will have a direct share of 94.98 percent in BA-CA.

Transfer of HVB's share in Russian IMB to BA-CA
HVB will sell a shareholding of up to 70.3% in International Moscow Bank (IMB) to BA-CA for a cash consideration of up to approximately EUR 984 million (including the 23.4% shareholding in IMB currently being sold by Nordea to HVB).

Transfer of HVB's activities in the Baltic area to BA-CA
HVB will sell its 100% shareholding in HVB Bank Latvia to BA-CA for a cash consideration of EUR 35 million plus the capital increase of HVB Latvia of approximately EUR 40 million subscribed by HVB in August 2006.
HVB Bank Latvia will establish branches in Estonia and Lithuania. In a second step, the assets and liabilities of the existing branches of HVB in Estonia and Lithuania will be transferred at a price of EUR 10 million as goodwill to the branches of HVB Bank Latvia established in these countries respectively.

All transactions are subject to the approval of HVB's extraordinary shareholders' meeting to be held on 25 October 2006, as well as to the approval of the relevant authorities.

Gerhard Smoley
Investor Relations Bank Austria Creditanstalt
phone: +43 (0) 50505 - 58853
e-mail: Gerhard.Smoley@ba-ca.com

Bank Austria Creditanstalt AG
Am Hof 2, 1010 Vienna, Austria
e-mail:   IR@ba-ca.com
Internet: http://ir.ba-ca.com

ISIN:            Listed:
AT0000995006     Vienna, prime market
                 Warsaw, main market

Largest bonds by volume issued:
ISIN:        Stock exchanges:
XS0138439707 Luxembourg

Further stock exchanges where bonds are admitted to listing:
Vienna, Frankfurt, Paris, Amsterdam