EANS-Adhoc: conwert Immobilien Invest SE / conwert Immobilien Invest SE sets terms of convertible bonds

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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20.01.2010

Not for release or publication in, or distribution to, the United States of
America, Canada, Japan and Australia or any other jurisdiction in which offers
or sales of securities of conwert Immobilien Invest SE are prohibited by
applicable law.

conwert Immobilien Invest SE sets terms of convertible bonds

Vienna, 20 January 2010. conwert has successfully completed the placement of
convertible bonds (the "Bonds") in an aggregate principal amount of EUR 131
million announced earlier today. In addition, conwert has granted the Joint
Bookrunners an over-allotment option of up EUR 19 million (approximately 15% of
the offering size).

The coupon of the Bonds has been set at 5.25% p.a., payable semi-annually. The
initial exercise price of the Bonds will be EUR 12.06, representing a premium of
32.5% above the volume weighted average price of the conwert shares during the
bookbuilding period.

The Bonds will have a maturity of six years. Holders of the Bonds will be
entitled to require an early redemption of their Bonds at the principal amount
together with accrued interest on the fourth anniversary after the issue date.
conwert will use the proceeds from the Offering for general corporate purposes.
Due to limited interest of investors at the offered terms, conwert has decided
not to repurchase any of its outstanding 1.50% convertible bonds due 2014.

The closing and settlement of the Offering is expected to occur on or around 1
February 2010. conwert intends to apply for the Bonds to be traded on the
unregulated Third Market (Multilateral Trading Facility) of the Vienna Stock
Exchange.

Barclays Capital, Credit Suisse and JP Morgan acted as Joint Bookrunners and
Raiffeisen Centrobank AG acted as Co-Lead Manager of the Offering.

_______________________________________

The information contained herein is not for release or publication in, or
distribution to, the United States (as defined below), Canada, Japan and
Australia, or any other jurisdiction in which offers or sales of securities of
conwert Immobilien Invest SE are prohibited by applicable law.

This press release does not constitute or form part of any offer or solicitation
to purchase or subscribe for sale securities of conwert Immobilien Invest SE. No
public offer of the Bonds will be made in Austria or any other jurisdiction.

This press release is not being issued in the United States of America, its
territories and possessions, any State of the United States of America, and the
District of Columbia ("United States") and must not be distributed, directly or
indirectly, in or into the United States. The securities referred to in this
press release (including the Bonds and the shares of conwert Immobilien Invest
SE) have not been and will not be registered under the U.S. Securities Act of
1933, as amended ("Securities Act"), and may not be offered or sold in the
United States absent an exemption from registration under the Securities Act. No
offer or acceptance to repurchase any existing bonds will be accepted from the
United States of America.

This press release is not for general publication, release or distribution in
the United Kingdom and may only be distributed in the United Kingdom to persons
who (i) are investment professionals falling within article 19(5) of the U.K.
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, in its
current version (the "Order"), or (ii) are high net worth entities or other
persons to whom it may lawfully be communicated falling within article 49(2) (a)
to (d) of the Order (all such persons will be referred to as "Relevant Persons"
below). Anyone in the United Kingdom who is not a Relevant Person may not act on
the basis of this press release or its contents. Any investment or investment
activity to which this press release refers is only available to Relevant
Persons and is only carried out with Relevant Persons.

From the announcement of the final terms of the Bonds, Credit Suisse, as
stabilisation manager, may over-allot or effect transactions with a view to
supporting the market price of the Bonds or the existing Shares of conwert
Immobilien Invest SE at a level higher than that which might otherwise prevail.
Such stabilising, if commenced, may be discontinued at any time and will, in
analogous application of Regulation (EC) No. 2273/2003, be brought to an end no
later than the earlier of 30 calendar days after the closing date and 60
calendar days after allotment of the Bonds. If commenced, such stabilising may
lead to a market price of the Bonds and/or the existing Shares which may be
higher than the level that would exist if no such stabilising measures were
taken and may indicate to the market a price stability which without such
stabilising might not prevail. However, there is no obligation to engage in
such stabilisation activities and such stabilisation, if commenced (which may
not occur before the final terms of the Bonds have been announced), may be
discontinued at any time. Following the end of the stabilisation period,
information regarding stabilising activities (including the extent to which
stabilisation has taken place, the dates on which the first and last
stabilisation trades were executed, and the dates on and price range within
which all stabilisation activity took place) will be published in analogous
application of Article 9(3) of Regulation (EC) No. 2273/2003.

Further inquiry note:
conwert Immobilien Invest SE,

Peter Sidlo, Head of Corporate Communications, 
T +43 / 1 / 521 45-250, 
E [email protected]

Metrum Communications, 
Roland Mayrl, 
T +43 / 1 / 504 69 87-331, 
E [email protected]
end of announcement                               euro adhoc 
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issuer:   conwert Immobilien Invest SE
          Albertgasse 35
          A-1080 Wien
phone:    52145-0
FAX:      52145-111
mail:     [email protected]
WWW:      http://www.conwert.at
sector:   Real Estate
ISIN:     AT0000697750
indexes:  WBI

stockmarkets: official dealing: Wien
language: English

Digitale Pressemappe: http://www.ots.at/pressemappe/2908

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