euro adhoc: conwert Immobilien Invest SE / Buybacks / conwert Immobilien Invest SE announces modified share buyback programme: new maximum purchase price of EUR 13.00 per share

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20.05.2008

conwert Immobilien Invest SE announces modified share buyback
programme: new maximum purchase price of EUR 13.00 per share

Vienna, 20.05.2008. The Administrative Board of conwert Immobilien
Invest SE approved a change in the terms of the current share buyback
programme through a written resolution on 19 May 2008: the purchase
price is now defined with an extended new price range of EUR 8.00 to
EUR 13.00 for the purchase of conwert shares (former EUR 8.00 to EUR
12.20). This change in the maximum purchase price still reflects a
roughly 20% discount to the current NAV, which demonstrates an
unchanged low priced opportunity to acquire conwert shares in
particular for use in the acquisition of companies and properties.

The terms of the amended share buyback programme are as follows: +
Duration: 31.01.2008 to 30.06.2008 at the latest + Class of shares:
Common shares + Planned volume: Up to 10% of issued capital,
therefore a maximum of 8,535,927 common shares + Purchase price: EUR
8.00 to EUR 13.00 per share + Form of purchase: Over the Vienna Stock
Exchange + Purpose: For the purpose permitted by § 65 (1) 8 of the
Austrian Stock Corporation Act, in particular for use in the
acquisition of companies and properties.

Any changes as well as the transactions carried out as part of the
share buyback programme will be announced on the website of conwert
Immobilien Invest SE under www.conwert.at in accordance with the
Austrian Stock Corporation Act and the relevant publication
directive.

end of announcement euro adhoc
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ots Originaltext: conwert Immobilien Invest SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

conwert Immobilien Invest SE, Johann Kowar, Chairman of the Executive Board

T +43 / 1 / 521 45-200, E kowar@conwert.at

Peter Sidlo, Head of Investor Relations, T +43 / 1 / 521 45-250,

E sidlo@conwert.at

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wiener Börse AG / official dealing