VBAG: brief information regarding today´s general assemblies

In the extraordinary general assemblies of Oesterreichische Volksbanken-AG (VBAG) and Investkredit Bank AG held today, 30 November 2011, the resolutions passed in the general assemblies on 19 May 2011 regarding the spin-off of VBAG´s banking operations to Investkredit, were revoked. Due to the deterioration of the market environment for banks and the resulting effects on the planned de-merger, it was stated that the de-merger cannot be implemented in the planned form. Furthermore, the owners were informed about the current condition of VBAG and the status of the re-dimensioning program.

In VBAG´s supervisory board meeting held before the general assembly meeting, structural measures regarding VBAG´s internal reorganization were presented. The relevant resolutions in this respect are expected to be passed in the next meeting, after the structural measures have been specified.

Contact for queries:
Österreichische Volksbanken-Aktiengesellschaft
Walter Gröblinger
Phone: +43 (0)50 4004-3864
Mail to: walter.groeblinger@volksbank.com
www.volksbank.com