euro adhoc: Österreichische Post AG / Mergers - Acquisitions - Takeovers / Austrian Post acquires majority in German specialty logistics service company trans-o-flex (E)

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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30.10.2006

- Austrian Post will acquire 74.9% of trans-o-flex per end of year 2006
- Total Enterprise Value of EUR 225 million (as of 30 June 2006)
- Basis for expansion of Parcel & Logistics Division and continuation of growth
through international expansion
- Revenue contribution of around EUR 460 million and EBITDA of around EUR 27
million

Österreichische Post AG ("Austrian Post") announces the acquisition of a
majority stake in trans-o-flex GmbH and its affiliated companies
("trans-o-flex") from private equity funds managed by Odewald & Compagnie
("Odewald & Cie.") and Alpha Group ("Alpha"). Odewald & Cie. and Alpha will
retain a stake of 25.1%. The management and supervisory board of Austrian Post
have already approved the transaction. The transaction still requires approval
by the relevant antitrust authority.

trans-o-flex is one of Germany’s leading specialized logistics service providers
for express delivery in the business-to-business segment with a focus on the
life science, consumer electronics/home entertainment and lifestyle/cosmetics
industries. By assuming corporate leadership at trans-o-flex, Austrian Post is
taking control over one of only a few Germany-wide logistics networks with 39
delivery centres. In 2005, trans-o-flex handled approx. 49 million shipments and
employed approx. 890 employees. The range of services offered by trans-o-flex
also includes specialized services such as transportation of hazardous goods and
temperature controlled products. To handle its international freight traffic
activities, trans-o-flex operates the European logistics network EURODIS, a
combination of European logistics companies that is currently being built up.

"With this acquisition Austrian Post is building the foundations for further
growth in a dynamic market for parcel and logistics services. As a result of the
transaction Austria will become a veritable platform at the crossroads between
Western and Eastern Europe and our efforts to build a pan-European niche
business have only just started," commented Dr. Anton Wais, Chief Executive
Officer of Austrian Post.

With this transaction Austrian Post will strengthen its parcel and logistics
division, increase its European footprint and intensify its existing successful
cooperation with trans-o-flex. Today, Austrian Post already delivers out of the
trans-o-flex-network approx. 5,000 parcels per day in Austria which is
trans-o-flex’s most important foreign market. For both partners additional
value-creation opportunities will arise especially from the expansion of their
combined international network. As a result of the transaction the parcel and
logistics division of Austrian Post now has a universal network of its own,
covering Germany, Austria, Slovakia and Croatia.

In the twelve months to June 2006, trans-o-flex generated revenues of approx.
EUR 460 million and EBITDA of approx. EUR 27 million. The Enterprise Value as of
30 June 2006, the effective date of the transaction, was calculated at EUR 225
million. The parties have agreed not to disclose the purchase price (enterprise
value less net financial debt). According to the terms and conditions of the
transaction Austrian Post has an option to acquire the remaining 25.1% in 2009
at the latest. Austrian Post expects the transaction to yield a post-tax return
on invested capital of more than 7%, which is above Austrian Post’s internal
hurdle rate for the cost of capital.

Goldman Sachs was exclusive financial advisor to Austrian Post in this
transaction.

Austrian Post
Austrian Post, headquartered in Vienna (Austria), is Austria’s leading postal
services and logistics company. It generated revenues of more than EUR 1.7
billion in 2005. Alongside its Mail Division (pick-up, sorting, transportation
and delivery of letters within Austria and internationally) the Parcel &
Logistics Division is the Company’s most important revenue contributor. In 2005,
Austrian Post delivered around 43 million parcels in Austria. In 2006 the
Company started to offer its parcel delivery services to corporate clients (B2B)
in addition to servicing the retail parcel markets (B2C, C2C). Alongside its
network in Austria Austrian Post operates parcel networks in Croatia and
Slovakia. In addition to postal and financial services and products its Branch
Network division also sells retail products. Since the end of May 2006 Austrian
post has been publicly listed on the Vienna Stock Exchange, making it the third
exchange-listed national postal company in Europe.
For more information go to the Company’s website at www.post.at.

trans-o-flex
trans-o-flex, headquartered in Weinheim (Germany), operates a Germany-wide
speciality logistics network with 39 delivery centres primarily to transport
business-to-business parcels and pallets (combined freight). trans-o-flex has
specialised particularly in the transportation of goods for customers in the
life sciences, consumer electronics/home entertainment and lifestyle/cosmetics
industries. It has a leading market position in the life science markets in
Germany. Additionally, the company offers speciality logistics services such as
temperature-controlled delivery and transportation of hazardous goods. In 2005,
trans-o-flex handled some 49 million shipments and generated revenues of
approximately EUR 460 million with roughly 890 employees. To handle its
international freight traffic activities, trans-o-flex operates the European
logistics network EURODIS, a combination of European logistics companies that is
currently being built up.
For more information go to the Company’s website at www.trans-o-flex.de.

This press release contains forward-looking statements about the future
development of Austrian Post and economic developments. These statements reflect
the current beliefs and assumptions, which are based on all information
currently available to us. Should these underlying assumptions fail to
materialize or should further risks arise, actual results may differ from the
currently expected results. Austrian Post is under no obligation to update these
forward-looking statements to reflect future events or developments.

Further inquiry note:
Further inquiry note:
Austrian Post
Investor Relations:
Harald Hagenauer
Tel.: +43(1)515 51-30401
mailto:harald.hagenauer@post.at

Public Relations:
Michael Homola
Tel.: +43(1)515 51-32010
mailto:michael.homola@post.at

end of announcement euro adhoc 30.10.2006 06:44:14
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emitter: Österreichische Post AG
Postgasse 8
A-1010 Wien
phone: (01) 515 51-0
WWW: www.post.at
ISIN: AT0000APOST4
indexes: ATX
stockmarkets: stock market: Wiener Börse AG
sector: Transport
language: English

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