euro adhoc: conwert Immobilien Invest SE / Buybacks / conwert Immobilien Invest SE modifies share buyback programme (E)

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07.04.2008

conwert Immobilien Invest SE modifies share buyback programme

Vienna, 07.04.2008. The Administrative Board of conwert Immobilien Invest SE
approved a change in the terms of the current share buyback programme through a
written resolution on 07 April 2008.

The extraordinary general meeting of conwert Immobilien Invest AG on 25 October
2007 authorised the Management Board to repurchase the company´s shares up to
the legally defined maximum of 10% of issued capital during a period of 18
months beginning on the date of the resolution. In this connection, the general
meeting also confirmed the validity of the authorisation for conwert Immobilien
Invest SE after the change in the company´s legal form. The resolution was
published on the conwert website under www.conwert.at on 25 October 2007.

On 24 January 2008 the Administrative Board of conwert Immobilien Invest SE
decided to make use of this authorisation and defined the following share
buyback programme:

+ Duration: 31.01.2008 to 30.06.2008 at the latest
+ Class of shares: Common shares
+ Planned volume: Up to 10% of issued capital, therefore a maximum of 8,535,927
common shares
+ Purchase price: EUR 8.00 to EUR 11.00 per share
+ Form of purchase: Over the Vienna Stock Exchange
+ Purpose: For the purpose permitted by § 65 (1) 8 of the Austrian Stock
Corporation Act, in particular for use in the acquisition of companies and
properties.

The Administrative Board of the company has now amended the share buyback
programme that was approved on 24 January 2008 through a written resolution
dated 7 April 2008 to reflect a new price range of EUR 8.00 to EUR 12.20 for the
purchase of conwert shares.

This change in the purchase price range is intended to reflect the strong
increase in NAV to EUR 16.25 as of 31 December 2007, whereby a maximum purchase
price of EUR 12.20/share still reflects a 25% discount.

The terms of the amended share buyback programme are as follows:

+ Duration: 31.01.2008 to 30.06.2008 at the latest
+ Class of shares: Common shares
+ Planned volume: Up to 10% of issued capital, therefore a maximum of 8,535,927
common shares
+ Purchase price: EUR 8.00 to EUR 12.20 per share
+ Form of purchase: Over the Vienna Stock Exchange
+ Purpose: For the purpose permitted by § 65 (1) 8 of the Austrian Stock
Corporation Act, in particular for use in the acquisition of companies and
properties

Any changes as well as the transactions carried out as part of the share buyback
programme will be announced on the website of conwert Immobilien Invest SE under
www.conwert.at in accordance with the Austrian Stock Corporation Act and the
relevant publication directive.

Further inquiry note:
conwert Immobilien Invest SE

Johann Kowar, Chairman of the Executive Board, T +43 / 1 / 521 45-200,
E [email protected]

Peter Sidlo, Head of Investor Relations, T +43 / 1 / 521 45-250,
E [email protected]

end of announcement euro adhoc
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emitter: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: [email protected]
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI
stockmarkets: official dealing: Wiener Börse AG
language: English

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