EANS-Adhoc: conwert Immobilien Invest SE / Total profit will be used to strengthen liquidity and the financing structure

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conwert: Total profit will be used to strengthen liquidity and the financing structure

Vienna, 05 May 2009. The Executive Board of conwert Immobilien Invest SE announced at the publication of its results of the financial year 2008 on 26 March 2009 that it would submit a proposal for the appropriation of total profit to the next Annual General Meeting in time, taking into account market and company developments. Following a detailed review it has now been decided not to propose a dividend payout for 2008. "Although - in contrast to the negative Group result for the year of EUR 30 million - the total profit according to the Austrian Commercial Code (UGB), existing liquidity and the positive operating business development in the first months of 2009 generally allow a dividend, we propose not to pay out a dividend for the year 2008 due to growing insecurity regarding the further economic development. In this environment, we attach top priority to strengthening liquidity, reducing debt and to the value-increasing use of existing funds to improve our financing and balance sheet structure", Johann Kowar, Chairman of the Executive Board, explains the decision.

The annual financial statements in accordance UGB show a total profit equalling EUR 19.6 million for conwert Immobilien Invest SE in 2008. A proposal will be made to the Annual General Meeting to carry forward the total profit.

The 8th Annual General Meeting will take place in Vienna on 26 May 2009. The results of the first quarter of 2009 will also be published on 26 May 2009.

end of announcement euro adhoc

emitter: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: cw@conwert.at
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI
stockmarkets: official dealing: Wiener Börse AG
language: English