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

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conwert Immobilien Invest SE starts share buyback

Vienna, 25.01.2008. The extraordinary general meeting of conwert Immobilien Invest AG passed a resolution on 25 October 2007, which authorises the Management Board to repurchase the company´s shares up to the legally defined maximum of 10% of issued capital. This authorisation is valid for a period of 18 months beginning on the date the resolution was passed. 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 on 25 October 2007.
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 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 approved this programme because the current market price of the company´s share is roughly 35% below its book value (NAV) and provides a good opportunity to buyback own shares at a cheap level to use them amongst others for later acquisitions.

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

Further inquiry note:
conwert Immobilien Invest SE, Johann Kowar, Chief Executive Officer, T +43 / 1 / 521 45-200, E

Hochegger|Financials, Roland Mayrl, T +43 / 1 / 504 69 87-31,

end of announcement euro adhoc

emitter: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
sector: Real Estate
ISIN: AT0000697750
indexes: WBI
stockmarkets: official dealing: Wiener Börse AG
language: English