euro adhoc: AvW INVEST AG / AvW Invest AG: Very good year 2003 (E)

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AvW Invest AG presents the final figures for the 2003 business year; accounts are rendered in accordance with the IAS guidelines. AvW -again - showed an excellent performance in the 2003 business year.

In Mio. EUR 2003 2002 Operating income 4.556 3.293 Operating result 2.670 1.769 Result of ordinary activities 2.259 0.500 Net income for the year 1.523 0.427 Net profit for the year 2.601 1.397 Balance sheet total 18.428 18.514 Equity capital 16.932 15.823 Equity ratio 91.9% 83.3% Number of employees 140 107 Earnings per share in EUR EUR 0.51 0.14 Dividend distribution TEUR 830 319

Financial services
Income in the core business, financial services, increased to EUR 3,199 milion (2002: EUR 3,109 m). In the period under review, 130 financial partners (in 2002: 96) worked as consultants for AvW in Austria; the network will be further expanded in the 2004 business year.

As far as shares in other enterprises are concerned, we increased our shares held in the Styrian hotbed of high-tech, Pankl Racing Systems AG. We entered into a strategic participation in the Cash Financial Services Group in order to launch our alternative investment product, the AvW Index®, on the Asian market. Revenue in this sector has increased to EUR 1,245 million (2002: EUR 0,069 m).

Real estate
To strengthen our real estate business, we acquired further real property in Carinthia/Austria. With EUR 0.11 million (2002: UR 0.11 m) revenue remained constant in this line of business.

AvW was subjected to a credit review on an international level; in March 2004, rating agency Dun & Bradstreet confirmed, again, our excellent credit standing of AA1.

Outlook into the future
For the current business year AvW is expecting further good results and growth in all three business segments.

AvW’s ordinary shares (AVWI.VI) are listed on the ATX prime index on the Vienna stock exchange under the specialist group Banks and on the ViDX, the AvW preference shares (AVWI_p.VI) are listed on the Auction Market.

Further inquiry note:
Mag. Alexandra Anthofer
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386

end of announcement euro adhoc

Emittent: AvW INVEST AG
Hauptstraße 118
AT-9201 Krumpendorf
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386
ISIN: AT0000930409
WKN: 093040
Börsen: official dealing Wiener Börse AG; free trade Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse Branche: Financial & Business Services
Sprache: Englisch