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euro adhoc: Generali Holding Vienna AG / Earnings / Generali Vienna Group's Results in 2004: Consolidated profit doubled (E)

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Generali Vienna Group's Results in 2004: Consolidated profit doubled Small increase in holding company's profit from ordinary activities

The Generali Vienna Group's profit from ordinary activities in 2004 was more than twice as high as in 2003, when it came to EUR 42.1 million, confirming the predictions in the 3rd Quarter Interim Report. Profit from ordinary activities was calculated on the basis of the accounting standards laid down in Austria's HGB (commercial code) applying the strenges Niederstwertprinzip (strict lower-of-cost-and-market principle).
The group's premium income, likewise calculated in conformity with HGB, grew by about 4 per cent to over EUR 2.7 billion.

Listed group parent Generali Holding Vienna AG will also be reporting a small increase in its profit from ordinary activities from EUR 36 million to nearly EUR 40 million. A bigger increase was originally expected, but the winding up of investment subsidiary Holdux has now been postponed until 2005. Consequently, the market gains forthcoming from that process will not be recognized in the accounts until after New Year.

As things stand at the moment, the General Meeting of Shareholders will be asked to declare the same distribution as for 2003, namely EUR 0.25 per share (dividend plus bonus).

Further inquiry note:
Generali Holding Vienna AG
Josef Hlinka
Tel.: (++43-1) 534 01-1375
Fax: (++43-1) 534 01-1593

emitter: Generali Holding Vienna AG Landskrongasse 1-3 A-1010 Wien phone: 534 01 0 FAX: 534 01 1593 mail: holding@generali.at WWW: http://www.generali.at ISIN: AT0000661350

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sector: Insurance language: English