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euro adhoc: AvW INVEST AG (english)

Krumpendorf, 18.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.

AvW INVEST AG AvW Invest AG: Successfully 1st quarter 2004

AvW Invest starts the 2004 financial yearwith a significant increase in earnings. The company prepares itsfinancial statements in accordance with IAS and observes theaccounting proposals applicable to banks.

^In EUR million 1st quarter, 2004 1st quarter, 2003 increase in %Operating results 1.352 1.125 + 20%Earnings before tax 1.321 0.832 + 59%Net income for the year 0.884 0.525 + 68%Result per share 0.29 0.17 + 70%°

Business DevelopmentCompared to the prior year, the AvW Group was able to increaseoperational business to a total of EUR 1.352 million (2003: EUR 1.125million) in all three business segments - financial services, equityinvestments and real estate. At EUR 0.457 million (2003: EUR 0.502million), operating expenses remained at a stable level. The numberof employees increased to 143 (2003: 103). In the investment business sector, the Group acquired a new holdingof 9.1% in S&T System Integration & Technology Distribution AG, theregional market leader in IT systems integration in Central andEastern Europe. In addition, AvW holds approximately 11% of HirschServo AG and approximately 14.9% of Pankl Racing Systems AG.The strong growth trend in the financial services segment continued,while the dynamic expansion of the financial services network inAustria proceeded at a consistent pace.

OutlookIn the equity investment segment an investment in a renowned Austrianindustrial enterprise is planned. Overall, AvW is expecting thepositive trend to continue for the remainder of the 2004 financialyear.

The 1st quarter 2004 report is published on our homepage atwww.avw.at.

Further inquiry note:AvW INVEST AGMag. Alexandra Anthoferhttp://www.avw.atTel: +43(0)4229 3621FAX: +43(0)4229 2386Email: a.anthofer@avw.at

Ende der Mitteilung

WKN: 093040ISIN: AT0000930409Marktsegment: Prime.market, official dealing Wiener Börse AG; freetrade Baden-Württembergische Wertpapierbörse, FrankfurterWertpapierbörse

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