EANS-News: OVB Holding AG / Signs of business recovery at OVB after cautious start to 2010

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3-month report

Köln (euro adhoc) - Consolidated sales reach EUR47.6 million in first
quarter of 2010 - Central and Eastern Europe as most stable segment -
EBIT of EUR1.3 million - more customers, more financial advisors,
more transactions in the past few weeks

Cologne, 12 May 2010 - OVB Holding AG generated sound results in the
first quarter of 2010 and held its own in an ongoing difficult
macroeconomic environment. Consolidated sales amounted to EUR47.6
million (previous year: EUR53.8 million). "Economic conditions in
Europe still aren´t easy, but we´ve already identified significant
business recovery in the last month of the first quarter of 2010,"
explains Wilfried Kempchen, Chief Executive Officer of OVB Holding
AG.

The Central and Eastern Europe region contributed EUR20.6 million
(previous year: EUR21.1 million) to consolidated sales, proving to be
the most stable segment in the Group with a fall in total sales
commission of just 2.4%. In the period between January and March
2010, total sales commission in Germany fell by 15.9% compared with
the previous year (EUR21.4 million), totalling EUR18.0 million. Sales
in the Southern and Western Europe segment in the initial quarter
were also down on the previous year´s volume at EUR9 million
(EUR11.4 million).

The Group´s operating income (EBIT) totalled EUR1.3 million in the
first quarter of 2010 (previous year: EUR3.4 million). Central and
Eastern Europe contributed EUR2.1 million to EBIT (previous year:
EUR3.3 million). In Germany, operating income declined to
EUR1.8 million (previous year: EUR2.7 million). EBIT for the Southern
and Western Europe region totalled EUR-0.3 million; in the same
period of the previous year, this segment posted positive operating
income of EUR+0.3 million. Consolidated net income in the period
under review amounted to EUR1.1 million, down from EUR2.4 million in
the same quarter of the previous year. Earnings per share amounted to
EUR0.08 (previous year: EUR0.17).

The number of customers at OVB remained largely constant at
approximately 2.8 million persons - the financial advisors at OVB
therefore enjoyed the trust of their customers even in difficult
times. At the end of March 2010, 4,410 full-time financial advisors
worked for OVB in 14 countries of Europe. The number was lower by 254
sales agents compared to the end of the year 2009 (4,664 financial
advisors) and by 547 fulltime advisors compared to 31 March 2009
(4,957 advisors). The main reasons for this decline are the
temporarily impaired general conditions and corresponding prospects
for income in the course of the international financial and economic
crisis.

The product portfolio of OVB has barely changed: with a share of 55%
of new business in the first quarter (previous year: 58%),
funds-based pension products were the most in demand.

The first signs of a recovery have been noticeable since March -
although business performance in many European countries in the first
quarter of 2010 still boded ongoing economic difficulty. "We are very
confident overall and expect the moderate macroeconomic upward trend
to have a positive impact on the business activities of OVB in
Europe," states Oskar Heitz, Chief Financial Officer of OVB Holding
AG. "Nevertheless, it is essential that we continue to optimise
structures and processes on an ongoing basis in order to successfully
tackle the challenges of the next few years." As regards sales
performance in the current financial year, OVB expects to achieve
about the same figure as 2009.

About the OVB Group

The OVB Group, with its holding company headquartered in Cologne, is
one of the leading European financial sales organisations. Since
the formation of OVB Vermögensberatung AG in Germany in 1970,
customer-oriented consulting for private households in the areas of
insurance coverage, asset building and appreciation, pension
provision and real estate acquisition have formed the focus of OVB´s
business activities. OVB currently advises some 2.8 million customers
across Europe, working in cooperation with over 100 renowned product
partners. OVB is presently active in 14 countries, with 4,410
full-time financial advisors working for the Group. In 2009, OVB
Holding AG - which has been listed on the Frankfurt Stock Exchange
(Prime Standard, ISIN DE0006286560) since July 2006 - and its
subsidiaries generated total sales commission of EUR201.6 million and
EBIT of EUR9.6 million.

A presentation and the consolidated interim report on the first
quarter of 2010 can be downloaded from the Investor Relations
section of www.ovb.ag.

This press release is also available on the Internet at:
www.ovb.ag --> Press --> Press Releases

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OVB Holding AG
Heumarkt 1
50667 Cologne
Germany

Contact:
Brigitte Bonifer
Investor Relations

phone +49 221 / 2015-288
Telefax +49 221 / 2015-325

bbonifer@ovb.de
Internet: www.ovb.ag

Aditional Contact:
Anette Tepel
Stockheim Media GmbH

phone +49 221 / 420 75 - 38
Telefax +49 221 / 420 75 - 59
at@stockheim-media.com

end of announcement euro adhoc
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ots Originaltext: OVB Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Brigitte Bonifer

Investor Relations

Tel.: +49 (0)221 2015 288

E-Mail: bbonifer@ovb.de

Branche: Financial & Business Services
ISIN: DE0006286560
WKN: 628656
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade