euro adhoc: AvW INVEST AG / AvW Invest AG: Very good 1st half 2004 (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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The AvW presents good results for the 1st half 2004. The company
prepares its financial statements in accordance with IAS and observes
the accounting standards applicable to banks.

In EUR million         1st half 2004    1st half 2003   increase in %
Operating profit               2.216            1.303            70 %
Profit on ordinary
activities before tax         2.024             0.940           115 %
Net income over the year      1.334             0.609           119 %
Workforce                       150               114            31 %
Earnings per share in EUR      0.44              0.20           120 %

Business development
Compared to the prior year, the AvW Group increased operating income
to a total of EUR 3.092 million (2003: EUR 2.270 million) in all
three business segments - financial services, equity investments and
real estate. The balance sheet rose to EUR 19.860 million (2003: EUR
18.363 million). At EUR 0.885 million (2003: EUR 0.917 million),
operating expenses remained at a stable level. Compared to the prior
year the net income over the year for the 1st half 2004 rose by 119%,
earnings per share rose by 120%. The strong growth trend in the
financial services segment and the investment business segment
continued.

Outlook
In the investment business sector the company will continue to focus
its investments on listed small and mid caps in Austria and Germany.
In the financial services segment the company recruits continuously
top qualified finance consultancies in Austria and Germany.

AvW’s ordinary shares (AVWI.VI) are listed on the Vienna stock
exchange ATX Prime Market, the AvW preference shares (AVWI_p.VI) are
listed on the Auction Market.

The 1st half 2004 report is published on our homepage at 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 11.08.2004
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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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