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

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.


+ 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.

end of announcement euro adhoc

issuer: 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 market: Wien
language: English

Rückfragen & Kontakt:

conwert Immobilien Invest SE
Peter Sidlo, Head of Corporate Communications - Investor Relations
T +43 / 1 / 521 45-250
E sidlo@conwert.at

Metrum Communications GmbH
Roland Mayrl
T +43 / 1 / 504 69 87-331
E r.mayrl@metrum.at