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04.04.06

Raiffeisen International is engaged in negotiations to sellRaiffeisenbank Ukraine.

The Managing Board of Raiffeisen International Bank-Holding AG hasdecided to engage in negotiations which have arisen as a result ofunsolicited approaches from third parties to sell 100% of the shares ofJSCB Raiffeisenbank Ukraine. Should the negotiations not come to asuccessful conclusion in several weeks, then a merger with Joint StockPost Pension Bank Aval (Bank Aval), which was acquired in 2005, willtake place.

Raiffeisenbank Ukraine has been operational since 1998 and had totalassets of over Euro 1.2 billion, as well as 39 branches, at the end of2005. Raiffeisenbank Ukraine has been active predominantly in thecorporate segment. This makes the bank one of the smaller network banksin the Raiffeisen International Group. The transaction could generate asubstantial extraordinary gain for the Raiffeisen International Groupreflecting a multiple of the book value of Raiffeisenbank Ukraine. TheManaging Board of Raiffeisen International does not intend to follow asimilar strategy in Russia in connection with the forthcoming purchaseof Impexbank.

The sale of Raiffeisenbank Ukraine would eliminate merger costs withBank Aval, which was purchased in 2005. Furthermore it would be possibleto speed up the transformation process. The Raiffeisen brand would notbe included in the sale, instead it would be incorporated into the BankAval name. The Aval brand will be re-branded into Raiffeisen Bank Aval.Raiffeisen International’s further expansion in the high growth banking sector in Ukraine would be continued by Raiffeisen Bank Aval.

After a possible sale, the Raiffeisen Bank Aval would still play aleading role as the second largest bank in the Ukrainian market, withtotal assets of Euro 3.4 billion and 1,342 branches.

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Raiffeisen International operates one of the leading banking networks inCEE with 16 subsidiary banks and many leasing companies in 16 markets.Representative offices in Lithuania and Moldova complement the Group''spresence in the region. Raiffeisen International is a fully consolidatedsubsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 70per cent of the common stock. The remaining 30 per cent is free float,the shares are traded on the Vienna Stock Exchange. RZB is a leadingcorporate and investment bank in Austria and the central institution ofthe Austrian Raiffeisen Banking Group, the country''s most powerfulbanking group.

For further information please contact Michael Palzer (+43.1/71707-1504, michael.palzer@ri.co.at) or Lars D. Hofer (+43.1/71 707-1930,lars.hofer@ri.co.at).

http://www.ri.co.at, http://www.rzb.at

 

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