EANS-Adhoc: ECO Business-Immobilien AG / Friedrich Scheck resigns as CEO

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16.10.2009

ECO Business-Immobilien AG: Friedrich Scheck
resigns as CEO

Vienna, 16 October 2009. The Supervisory Board of ECO Business-Immobilien AG
announces that Friedrich Scheck has announced his resignation as chief executive
officer of ECO Business-Immobilien AG effective on 31 December 2009. As of this
same date he will also resign as the managing director of ECO Management GmbH, a
wholly owned subsidiary of the conwert Immobilien Group.

Alexander Schoeller, chairman of the Supervisory Board of ECO
Business-Immobilien AG, accepted the resignation of Friedrich Scheck with
regret: "Under the direction of Mr. Scheck ECO has established a position as a
well-known Austrian business property company that is listed in the Prime Market
segment of the Vienna Stock Exchange. ECO is well positioned for the future with
an attractive property portfolio, a 40% equity ratio and a sound financing
situation that is characterised by stable long-term interest rates. We regret
this personal decision by Mr. Scheck, but respect his decision to focus on new
professional challenges. The CEO is leaving the company in a stable and
well-ordered financial position. The Supervisory Board is optimistic that an
adequate solution to the issue of succession will soon be found. I would like to
wish Mr. Scheck the very best for his future professional activities and thank
him for his previous commitment".

On his new professional direction, CEO Friedrich Scheck commented: "Since the
founding of the company in 2003, my team and I have transformed ECO into a
serious market player. Against the backdrop of the global financial and economic
crisis, we resized the company during the past 12 months and stabilised the
liquidity and financing situation - which made it possible for us to master the
most difficult market situation in decades. The further solid development of the
company is now secure, and the time has come to turn my attention to new
challenges in my role as a certified public accountant and property
entrepreneur."

Further inquiry note:
Hochegger Financials
Roland Mayrl
Tel.: +43(1) 504 69 87-331
mailto:[email protected]
Ende der Mitteilung euro adhoc
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issuer:   ECO Business-Immobilien AG
          Opernring 1
          A-1010 Wien
phone:    580 88
FAX:      580 88 - 88
mail:     [email protected]
WWW:      www.eco-immo.at
sector:   Real Estate
ISIN:     AT0000617907
indexes:  Prime.market

stockmarkets: Regulated free trade: Wien
language: English

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