euro adhoc: Austrian Airlines AG / Restructuring & Recapitalisations / General meeting of shareholders approves ordinary capital increase of Austrian Airlines Österreichische Luftverkehrs AG

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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03.11.2006

The Extraordinary General Meeting of Shareholders of Austrian
Airlines Österreichische Luftverkehrs-Aktiengesellschaft held on 2
November 2006 has passed a resolution to implement a simplified
capital reduction under sections 182 et seq. of the Austrian Stock
Corporation Act (Aktiengesetz). As a result of the resolution, the
calculated notional amount per share of EUR 7.27 will be reduced to
EUR 3.00 and the nominal share capital will be reduced by EUR
145,180,000, from its previous figure of EUR 247,180,000 to EUR
102,000,000.

In addition to this, a resolution was passed to revoke the
authorisation of the Board of Management of 22 May 2006, in
accordance with § 169 of the Stock Corporation Act, to increase
the share capital by 12 August 2011 by up to EUR 123,590,000
through the issue up to 17 million individual share certificates
against a cash deposit.

A resolution was also reached to carry out an ordinary capital
increase by issuing a maximum volume of up to 68 million bearer
shares with no par value. The capital increase should be
implemented this year by way of an "at market bookbuilt
offering". One shareholder abstained on all the points of order
on which a vote was held. Afterwards he entered an objection which
was documented in the minutes.

Disclaimer: This ad hoc release does not represent either an offer
for the sale or a call for the purchase of securities. No public
offer of shares in Austrian Airlines Österreichische Luftverkehrs AG
has yet taken place. Any applications for orders placed at the
present time will be rejected. If a public offer is placed, a
prospectus corresponding to the conditions of Austrian Capital
Markets Act will be published.

This ad hoc release and the information contained in it are not
designed for circulation in the United States of America (USA) or
within the USA, and may not be distributed or conveyed to "U.S.
persons" (as defined in Regulation S of the U.S. Securities Act of
1933 in the currently valid version ["Securities Act"]) or to
publications with a general distribution in the USA. This ad hoc
release does not represent either an offer for the sale or a
call for the purchase of securities in the USA. The
securities of Austrian Airlines Österreichische
Luftverkehrs-Aktiengesellschaft have not been registered in
accordance with the regulations of the Securities Act, and may not
be sold, offered for sale or supplied to U.S. persons without an
exceptional clause from the obligation to register.

end of announcement euro adhoc 03.11.2006 08:44:07
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ots Originaltext: Austrian Airlines
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Konzernkommunikation:
Johannes Davoras
Johann Jurceka
Tel.: 051766-1231

Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3700

Branche: Air Transport
ISIN: AT0000620158
WKN: 875224
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing


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