EANS-News: Austrian Post / BAWAG P.S.K. and Austrian Post expand and deepen their cooperation

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Subtitle: BAWAG P.S.K. and Austrian Post AG launch new branch strategy
throughout Austria

Vienna (euro adhoc) - Austrian Post AG and BAWAG PSK will be working together
even more closely in the future, as the two companies develop a sustainable
network offering their customers a full range of postal and banking services at
over 500 locations in Austria. Roll-out of this network will occur throughout
the country by the end of 2012, with the first new branch offices opening this
year already. Byron Haynes, CEO of BAWAG P.S.K., and Georg Pölzl, CEO of
Austrian Post, both agree that the launch of the new branch network is a "unique
opportunity".

Partnership between BAWAG P.S.K. and Austrian Post
More than 120 years of cooperation between these two Austrian companies has
demonstrated that the combination of banking and postal services is popular and
makes sense. With this in mind, a new strategy for the branch network was
developed, which maintains local level access to banking and postal services
throughout Austria and will continue to do so in the future as well.
"Reorienting our sales structure is a logical consequence of our strategy
`Enterprise Austria´. In the future, the bank will be represented on the market
with ONE, strong brand, BAWAG P.S.K., at more than 500 locations throughout
Austria. With this move, we are making the full range of banking services which
we provide in Austria available to our customers, especially in rural areas,"
said Byron Haynes, CEO of BAWAG P.S.K.

Austrian Post CEO, Georg Pölzl, stressed that "Over the next two years, there
will be a tangible increase in the supply of postal and banking services, thanks
to deepening of our cooperation. For our customers, this means that they will
soon be able to attend to their day-to-day postal and banking business at almost
2,000 locations. Above and beyond that, at more than 500 offices they will also
have access to top-quality banking services provided by highly-trained financial
advisors."

More than 500 fully-fledged bank branches
BAWAG P.S.K.´s new branch strategy means that these offices will function as
fully-fledged bank branches. The outlets of PSK BANK Service, which have offered
basic financial services so far, will be upgraded. In the future, it will be
possible to tap into the entire range of services and products offered by BAWAG
P.S.K. at all of the more than 500 new locations. 280 rural and 240 urban
branches will be operated as joint offices of BAWAG P.S.K. and Austrian Post.

Deepening of the cooperation between the bank and Austrian Post results in clear
gains for the population in terms of services and availability. Starting
immediately, this cooperation extends to cover all of the services and products
offered by the bank, regardless of whether the branch is located in a rural area
or in a city. Advising will be carried out by competent BAWAG P.S.K. staff and
trained financial advisors from Austrian Post AG. "This is a significant step
towards meeting the needs of our savings and loan customers in particular, as
personalised advising is important for them," explained Byron Haynes, CEO of
BAWAG P.S.K.

"There will be at least one experienced financial advisor at all of the new
branch locations. Additionally, of course, the 1,500 Post outlets will still be
available for customers to take care of their day-to-day financial and mail
transactions," noted Herbert Götz, Chairman of the Management Board responsible
for the branch network.

One-stop shop, with customer-friendly opening hours
The long-standing partnership between BAWAG P.S.K. and Austrian Post is being
transformed with the launch of the new branch network. Cooperation is being
expanded and deepened, resulting in advantages for both partners, and last but
not least for the customers as well. The more than 500 joint locations will
operate as "one-stop shops", offering customers the entire range of services and
products from both companies at one site. BAWAG P.S.K. and Austrian Post will
have separate business zones within the branches.

- Self-Service Centre in the lobby area
The Self-Service Centres will have an account statement printer, a transfer slip
scanner and a bank machine for attending to simple banking transactions 24 hours
a day.
- CounterArea
Both postal and financial transactions can be carried out in the CounterArea.
This zone also has telecommunications products and retail goods.
- BankingZone for financial business
Advising on banking services and personalised customer service will take place
in a discrete banking area, well separated from the rest of the branch.

Austrian Post´s longer opening hours will also apply to bank customers in the
future as well:
- Generally, the CounterArea will be open continuously Monday-Friday from 0800
to 1800 and Saturdays from 0800 to 1200.
- Advising in banking matters will be provided during the usual bank hours.
- Mobile financial advisors will also be available to help customers directly,
outside of normal opening hours, by individual appointment.

Clear benefits for all
The new branch strategy offers advantages to all involved. BAWAG P.S.K. is
expanding its network of 150 BAWAG offices to more than 500 fully-fledged BAWAG
P.S.K. branches. With the new sales structure, Austrian Post will be represented
at all of the new branch offices and complement its network with around 1,500
postal outlets over the medium term. Customers, particularly in rural areas,
will profit from easy, local level access to banking and postal services. As
Herbert Götz explained, "We project that within two years we will be able to
ensure the viability of our branch network, to the benefit of our employees and
our customers." Byron Haynes added, "With this major reinforcement of the BAWAG
P.S.K. sales network throughout the country, we are clearly underlining our
commitment to business in Austria."

Step-by-step expansion of the branch network in 2010
Transition to new branch network will proceed gradually, with certain selected
branches opening their doors this year in Vienna, Lower Austria, Styria,
Carinthia, Salzburg and Tyrol. The insights gained from day-to-day operations
will be integrated into the large-scale branch roll-out. By 2012, this
forward-looking project of BAWAG P.S.K. and Austrian Post should be completed.
Byron Haynes and Georg Pölzl stressed, "We are clearly identifiable based on our
individual logos, and there is a clear structure for the branch offices. The
staff of the two companies will be able to concentrate 100% on their respective
tasks. And in the future, we will be able serve our customers more quickly and
more efficiently."

Further inquiry note:
Austrian Post
Head of Investor Relations
DI Harald Hagenauer
Tel.: +43 57767-30400
[email protected]

Austrian Post
Head of Group Communications
Mag. Ina Sabitzer
Tel.: +43 577 67-21763
[email protected]

Austrian Post
Press Spokesman
Michael Homola
Tel.: +43 577 67-32010
[email protected]
end of announcement euro adhoc
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company: Österreichische Post AG
Postgasse 8
A-1010 Wien
phone: +43 (0)57767-0
mail: [email protected]
WWW: www.post.at
sector: Transport
ISIN: AT0000APOST4
indexes: ATX Prime, ATX
stockmarkets: Regulated free trade: Wien
language: English

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