EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / Preparation of buyback programme for non-subordinated liabilities has begun

ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.

Strategic management decisions/C.E.O. Interviews
24.06.2015

Oesterreichische Volksbanken-Aktiengesellschaft, Kolingasse 14-16, 1090 Wien, company register number 116476p (VBAG) is now in the process of preparing for the demerger and continued operation of VBAG as a wind-down entity pursuant to Section 162 of the Federal Act on the Recovery and Resolution of Banks (Bundesgesetz über die Sanierung und Abwicklung von Banken). The regulatory and official approvals needed for this purpose are not yet available. Concerning the envisaged procedure for the demerger and continued operation of VBAG as a wind-down entity, VBAG refers to information published on its website.

Provided the demerger is legally effective and the continued operation of VBAG as a wind-down entity is approved by the relevant authorities, VBAG must reduce the portfolio optimally and as quickly as possible. Therefore, VBAG's Managing Board has today prudentially decided to begin preparing a buyback programme for liabilities. In this context, VBAG is also publishing updated information about the institution, particularly planning assumptions for those business areas that will remain part of the wind-down entity "immigon portfolioabbau ag" after the demerger. Due to the fact, that the demerger of VBAG is still subject to regulatory approval, and it will not be known until the end of the 2015 business year whether the planning assumptions have been realised, no definite statement can be made at the present time regarding the development of earnings set out in the planning.

The information mentioned above is available on VBAG's website,
http://www.volksbank.com/investor-relations under Group
information/Presentations. VBAG will continually update this information about the institution and publish it on VBAG's website as appropriate. Any buyback will take place by way of a public offer to investors and will only concern non-subordinated liabilities. VBAG will make a separate announcement in due course regarding the actual implementation of a buyback programme, including the liabilities concerned.

Listed participation capital issues of Österreichische Volksbanken-AG:

ISIN:
AT0000755665 Österreichische Volksbanken-AG Partizipationsscheine XS0359924643 EUR 500,000,000 Perpetual Non Cumulative Participation Capital Certificates (issued on a fiduciary basis by Banque de Luxembourg)

The five largest listed issues of Österreichische Volksbanken-AG by issuance volume:

ISIN:
AT000B056544
AT000B053442
AT000B121884
AT000B121868
XS0275528627

The issues of Österreichische Volksbanken-AG are admitted on the following stock exchanges:
Second Regulated Market of Wiener Börse AG
Official trading of Wiener Börse AG
Regulated market of the Luxembourg Stock Exchange
Open Market of Berlin Stock Exchange
Open Market of Stuttgart Stock Exchange
Open Market of Frankfurt Stock Exchange

end of announcement euro adhoc

issuer: Österreichische Volksbanken-Aktiengesellschaft Kolingasse 14-16 A-1090 Wien phone: +43 0 50 4004-0 WWW: www.volksbank.com sector: Banking ISIN: AT0000755665 indexes: Standard Market Auction

stockmarkets: Regulated free trade: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/1267/aom

Rückfragen & Kontakt:

Pressekontakt:
Petra Roth
Österreichische Volksbanken-AG
Mobil: 0664 6129223
Mail to: petra.roth@volksbank.com

Kontakt Institutional Investor Relations:
Karl Kinsky: 0043 504004-3338
Manuela Elsensohn-Pauser: 0043 504004-3187
Mail to: investorrelations@volksbank.com

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | EAE0002