euro adhoc: WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group / other / Wiener Städtische Versicherung AG Vienna Insurance Group (Vienna Insurance Group) raises Embedded Value to about EUR 4.2

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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25.04.2007

Please note: this is a translation; only the German version of this
release is legally binding.

The group embedded value (after taxes) for the Vienna Insurance Group
was EUR 4.19 billion as of 31 December 2006, which marks a clear
increase by 14.3 percent, as compared to the previous year. Thus
Vienna Insurance Group was able to achieve a return on embedded value
of about 17 percent.

71 percent of the total group embedded value of the Vienna Insurance
Group of EUR 4.19 billion is attributable to the Austrian and German
insurance business. While in 2005 the share contributed by the
companies in CEE (Kooperativa in the Czech Republic, Kooperativa in
Slovakia and Union Biztosító in Hungary) accounted for only approx.
23 percent, this share is as much as 29 percent in 2006, thus showing
the importance of the rapidly growing business of the Vienna
Insurance Group in that region.

The value of the new business written in 2006, in the amount of EUR
81.6 million, rose by 9.1 percent as compared to the previous year.
This value represents the earnings power of the life and health
insurance lines and is included in the group embedded value.

In addition to these two components, the Vienna Insurance Group also
determines the value of in-force business for parts of the Austrian P
& C business on the basis of the long-term relations with private
customers who have taken out P & C contracts that are serviced via
the important sales channel of the own employed sales force. On this
basis, the value of the enterprise would rise by EUR 577 million to
approx. EUR 4.77 billion.

The European embedded value was published for the first time by the
Vienna Insurance Group for the year 2005. In doing so, the Vienna
Insurance Group reflected the most recent developments in the
valuation of businesses by the capital market. For 2006, the
reference values from 2005 were adjusted as a consequence of the
introduction of a new profit sharing arrangement in Austria.

The embedded value is the number showing the value of in-force
insurance business and in accordance with international guidelines is
made up of the net assets for life, health and P & C insurance as
well as the current value of the combined future earnings from
in-force business in the life and health lines.

Renowned consultants Deloitte & Touche LLP London have reviewed and
fully confirmed the group embedded value of the Vienna Insurance
Group.

Wiener Städtische Versicherung AG
VIENNA INSURANCE GROUP
A-1010 Wien, Schottenring 30
ISIN: AT0000908504

You will also find this press release on
http://www.wienerstaedtische.at under Ad-hoc News

end of announcement euro adhoc 25.04.2007 07:22:53
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ots Originaltext: Wiener Städtische Allgemeine Versichererungs AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
WIENER STÄDTISCHE Versicherung AG
VIENNA INSURANCE GROUP
A-1010 Wien, Schottenring 30
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: ATX Prime, ATX, WBI
Börsen: Wiener Börse AG / official market


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