EANS-Adhoc: A-TEC Industries AG / A-TEC Industries AG announces commencement of reorganisation proceedings with self-administration

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distribution. The issuer is solely responsible for the content of this
announcement.
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20.10.2010

Vienna, 20 October 2010. The board of executive directors announces that the
efforts to negotiate a refinancing of the bond (ISIN AT000499272) with due date
on 2 Nov 2010, and the efforts to obtain a bridge financing have failed due to
the dramatically deteriorating situation of the Australian subsidiary of the
AE&E Group GmbH and the the correspondingly necessary, but so far unsuccessful
negotiations with the banking syndicate regarding the continuation of the
syndicated revolving guarantee facility of EUR 798 mio.

Therefore, A-TEC Industries AG has requested the commencement of reorganisation
proceedings with self-administration. These proceedings have commenced today by
order of the Vienna Commercial Court under file number 4 S 140/10f. The lawyer
Mr. Matthias Schmidt, 1010 Vienna, Dr. Karl Lueger-Ring 12 has been appointed as
supervisor.

The scope of the reorganisation proceedings is limited exclusively to A-TEC
Industries AG as ultimate parent company. The board of executive directors
expects that negotiations with creditors will lead to a positive conclusion of
the proceedings within the statutory time limit of 90 days, that is, until 20
Jan 2011 at the latest.

Having regard to the large number of bond creditors, trustees have been
appointed for each of the bonds issued by A-TEC Industries AG in order to
facilitate the process for the bond creditors. Mr. Georg Freimüller, A-1080
Vienna, Alser Straße 21 has been appointed as trustee for the bond due on 2 Nov
2010 (ISIN AT0000499272), Ms. Ulla Reisch, A-1020 Vienna, Praterstraße 62-64 has
been appointed as trustee for the convertible bond (ISIN AT0000A05CS2), and Ms.
Susi Pariasek, A-1010 Vienna, Gonzagagasse 15 has been appointed as trustee of
the convertible bond (ISIN AT00000ATEC9). These trustees will represent the
respective bond creditors in the reorganisation proceedings.

Further inquiry note:
Investor Relations
Gerald Wechselauer
Phone: +43 1 22760 - 130
Email: [email protected]

Press Office A-TEC Industries AG
Claudia Müller-Stralz
Pleon Publico Public Relations & Lobbying
Phone: +43-1-71786-107
E-Mail: [email protected]
end of announcement euro adhoc
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issuer:      A-TEC Industries AG
             Wächtergasse  1
             A-1010 Wien
phone:       +43 1 22760
FAX:         +43 1 22760-160
mail:        [email protected]
WWW:         http://www.a-tecindustries.com
sector:      Holding companies
ISIN:        AT00000ATEC9
indexes:     ATX Prime

stockmarkets: Regulated free trade: Wien
language: English

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