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24.10.2006

Erich Hampel will become the new chairman of the board of trustees of "Immobilien Privatstiftung" and of "B & C Privatstiftung"

Erich Hampel, Chairman of the Managing Board of Bank Austria Creditanstalt, will take over, in both foundations, the function of Gerhard Randa, who retired as a bank executive with effect from 30 September 2006 and on that occasion resigned from his function as chairman of "B&C Privatstiftung" and of "Immobilien Privatstiftung". This change ensures continuity in the management of the foundations.

Gerhard Randa was a member of the board of trustees of Immobilien Privatstiftung, a foundation established in 1999, from 2001 onwards and a member of the board of trustees of B&C Privatstiftung since the foundation was established at the end of 2000. Following the unexpected death of Wolfgang Houska, the first chairman of both foundations, Gerhard Randa was chairman of the board of trustees of both foundations from June 2005.

A brief review shows Gerhard Randa's successful activity: real estate not used for banking operations as well as equity interests in industrial companies (including Lenzing, Semperit and Porr) not forming part of the bank's core business were sold to the holding companies wholly-owned by the foundations, which were established by Bank Austria and Creditanstalt in 1999 and 2000.

Immobilien Privatstiftung is now starting the "Wien Mitte" project, a large-scale construction project reconciling the interests of all those involved after years of intensive preparations. Since the foundation was established, the value of its real estate holdings has increased by almost 10%, despite various sales of real estate made according to plan. At B & C Privatstiftung, efforts to enhance the overall value of equity holdings have been successful. Especially Lenzing and Semperit are very well positioned for competing internationally, they are operating on a global scale and pursue long-term strategies which are reflected in sustained good results and attractive share prices, also when compared with other companies in their respective industries.

Since the establishment of B & C Holding GmbH, the wholly-owned subsidiary of B & C Privatstiftung, its equity capital has risen by significantly over 300 million euros, an increase of almost 50 per cent. Dividend payments made to BA-CA by the subsidiaries of the two foundations since 1999 and 2000, respectively, have totalled around 186 million euros.

Gerhard Randa, who was Chief Executive Officer of BA-CA for many years, will continue to be available to BA-CA in an advisory capacity.

For more information: Bank Austria Creditanstalt Press Department, Austria
Peter N. Thier, Tel. +43 (0)5 05 05 Ext: 52371
E-mail: peter.thier@ba-ca.com