euro adhoc: AvW INVEST AG / AvW: Profits at record levels Improvements in all three business areas (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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AvW INVEST is listed on the ATX prime market on the Vienna Stock
Exchange under the specialist group Banks and prepares its financial
statements in accordance with IAS and observes the accounting
proposals applicable to banks.

in EUR million
                         1-9/2003          1-9/2002
Operating income            3,263             1,875          +  74 %
Operating result            1,943             0,809          + 140 %
Earnings before tax         1,594             0,534          + 198 %
Earnings after tax          1,048             0,321          + 226 %
Operating expenses          1,277             0,921          +  38 %
Workforce                     122               102

Market situation of the AvW Group
Tightening up AvW’s organisation brought a marked improvement in
operating earnings in the three business areas of financial services,
equity investment and real estate. The results have improved over the
previous year. AvW was active in all three business segments during
the first three quarters of 2003. It quickly expanded its operational
core business of financial services within Austria, invested in the
value sector and bought a property on Lake Wörther See that is being
altered for use as a tourism venue.

Business development
AvW has increased its income from all three business areas to EUR
3.263 million (2002: EUR 1.875 million).
In the financial services sector, AvW realised income of EUR 2.360
million during the first three quarters of 2003 (2002: EUR 1.697
million). AvW achieved this high growth through the intensive and
targeted expansion of its financial services network within Austria.
At the end of the period under report, 112 financial partners
throughout Austria (2002: 102) worked for AvW Invest AG.
In the equity investment business, AvW topped up its existing value
investment holdings. It purchased the Chinese financial services
provider Cash F.S. Group, in which AvW acquired a 1% holding, which
it will further increase during the fourth quarter. In the real
estate sector, AvW bought a property during the third quarter and now
owns 7 real estate properties throughout Austria.

Outlook
The financial services and equity investment segments are going
extremely well in Austria, and AvW is expecting significantly higher
profits both before and after tax for the whole of 2003 than it saw
in 2002.
Investments in further Chinese financial services providers are being
considered and these will be acquired when the time is right. The
Chinese market for one-stop financial services providers is currently
expanding and looks set to grow far faster than the same market in
Europe over the next ten years.

You will find the report to shareholders for the 1st-3rd quarter of
2003 at http://www.avw.at

Further inquiry note:
AvW INVEST AG
Mag. Alexandra Anthofer
http://www.avw.at
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386
Email: [email protected]

end of announcement euro adhoc 18.11.2003
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Emittent: AvW INVEST AG
Hauptstrasse 118
AT-9201 Krumpendorf
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386
Email: [email protected]
WWW: www.avw.at
ISIN: AT0000930409
WKN: 093040
Indizes: Prime.market
Börsen: official dealing Wiener Börse AG; free trade
Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse
Branche: Financial & Business Services
Sprache: Englisch

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