EANS-Adhoc: conwert acquires two top-quality property packages totalling EUR 93 million Petrus Advisers new conwert core shareholder

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29.04.2010

+ Takeover of 6 properties totalling EUR 93.15 million
+ Purchase prices will be paid in treasury shares
+ conwert Management and Günter Kerbler combine with Petrus Advisers to form
new group of core shareholders

Vienna, 29.04.2010. Within a comprehensive transaction, conwert Immobilien
Invest SE, listed on the Vienna Stock Exchange, has acquired six properties of a
total value of EUR 93.15 million from the Haselsteiner Family Private Foundation
on the one hand and from STRABAG AG on the other. The purchase price will be
paid with roughly 6.3 million own shares, which conwert has bought back within
the share buyback programmes. The difference to the total purchase price results
from taking over existing financing. Moreover, conwert will receive a new
long-term core shareholder in the course of this transaction.

"As announced previously, we are increasingly acting as a buyer again in 2010 in
order to expand our portfolio selectively. With the acquisition which we have
now implemented, we have acquired top-quality properties with attractive yields
and further income potential in the inner city of Vienna. Having used treasury
shares as the currency for the acquisition, we are able to increase the earnings
of the company for our shareholders right from the very beginning of the
transaction," explains Johann Kowar, Chairman of the Executive Board. conwert
exchanged treasury shares for assets which generate an annual rental income of
more than EUR 4 million. Treasury shares are sold at EUR 10.30 per share, thus
exceeding the closing price of 28 April 2010 (EUR 8.62) by 20%.

The properties taken over comprise two stately apartment buildings in the first
district of Vienna as well as two commercially used properties in Vienna and
Oberwart. Total usable space amounts to roughly 28,000 sqm. The purchasing yield
before measures to increase value and earnings amounts to 4.35%.

At the same time as this property transaction, Günter Kerbler, Johann Kowar as
well as other members of the management will sell a total of roughly 6.3 million
conwert shares to a consortium led by the investment company Petrus Advisers.
Günter Kerbler and Johann Kowar will reinvest part of the proceeds from the sale
of the shares in an investment in this consortium. The remaining conwert shares
held by the management will be syndicated with this consortium almost entirely.
The Haselsteiner Family Private Foundation will also bring its conwert shares
(some 4.2 million shares) to the consortium. This way, a new core shareholder
holding approx. 17% of the voting rights in conwert will be created. Existing
lock-up obligations will be taken over by the new consortium.

Günter Kerbler, founder of conwert, comments: "For conwert a financially sound,
stable group of core shareholders with long-term interests is thus being
created. This new syndicate will actively support the growth strategy pursued by
the management. This means an important support and additional opportunities for
conwert, especially in volatile times."

The closing and thus the definitive legal effect of the contracts is expected
for the end of May, after the expiry of the legally required period of 14 days
for the publication.

Further inquiry note:
conwert Immobilien Invest SE
Peter Sidlo, Head of Corporate Communications - Investor Relations
T +43 / 1 / 521 45-250
E [email protected]

Metrum Communications GmbH
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 market: Wien
language: English

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