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UniCredit CAIB AG gets A+/A-1 rating from Standard & Poor's

UniCredit CAIB AG, a fully-owned subsidiary of Bank Austria AG, today received an A+ long-term and an A-1 short-term rating from Standard & Poor's (S&P). At the same time its outlook was ranked as stable. The company's rating thus matches the current S&P rating for UniCredit and Bank Austria (also A+/stable/A-1).

According to S&P the rating reflects the role of UniCredit CAIB and its parent company Bank Austria as core companies in UniCredit Group for the development of the banking business in the rapidly growing markets of Central and Eastern Europe (CEE). A detailed explanatory statement on S&P's rating is available at: www.standardandpoors.com.

Pooling the investment banking activities
To boost its competitiveness, Bank Austria began last year to pool its entire investment banking business under the UniCredit CAIB umbrella, initially pooling the former investment banking activities in London, Vienna, Central and Eastern Europe and at the Russian brokerage Aton. Consequently, UniCredit CAIB is now already responsible for institutional equity business, research, M&A advisory, equity capital markets and merchant banking as well as playing the role of management company for the direct subsidiaries in the CEE region.

"Pooling these activities is an important milestone for the UniCredit Group to further strengthen its leading position in the capital market sector in the emerging European markets", said Stefan Ermisch, Chief Operating Officer of the UniCredit Markets & Investment Banking Division and the person in charge of the integration of the investment banking activities of UniCredit Group. Ermisch is also Deputy Chairman of the Supervisory Board of UniCredit CAIB.

As the next step, it is planned to integrate all trading activities of Bank Austria into UniCredit CAIB by the end of 2008. In future, Bank Austria's capital markets trading activities will be handled exclusively through UniCredit CAIB. "By bundling all our forces under one roof we will ensure that we can provide our customers with the entire range of services of our trading and investment banking activities in an even more effective fashion ", said Stefan Ermisch.

The UniCredit Group
Ranking among the top financial groups in Europe, UniCredit Group serves over 40 million clients at 9,000 branches in 23 countries. Within the Group, the UniCredit Markets & Investment Banking Division is the competence centre for global financial markets and investment banking services. UniCredit Markets & Investment Banking maintains one of the largest networks of all investment banks on the European continent and combines placement power with in-depth structuring know-how in the major markets as well as in the fast growing European emerging markets.

Press contact:
Markus Huber, Tel.: +49 (0)89 378-29319