EANS-Adhoc: Lenzing AG / "Re-IPO" of Lenzing AG at an Offer Price of EUR 92

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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15.06.2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN OR INTO AUSTRALIA, CANADA OR JAPAN

Vienna/Lenzing, June 15, 2011 - Lenzing AG ("Lenzing" or the
"Company") and B & C Iota GmbH & Co KG ("B & C Iota") as well as B &
C Industrieholding GmbH, both subsidiaries of B & C Privatstiftung
(together with its consolidated affiliates, the "B & C Group" or "B &
C"), fixed the offer price for the offering of new and existing
shares of Lenzing (the "Re-IPO") at EUR 92 per offered share. A total
of 6,725,000 shares have been allocated, including 825,000 new shares
from a capital increase of Lenzing with subscription rights ("Rights
Offering"), 5,351,379 shares from the selling shareholder B & C Iota,
and 548,621 shares from an overallotment option granted by B & C Iota
to the syndicate of banks. Accordingly, the total issue volume,
including overallotments, amounts to approximately EUR 619 million.
Lenzing will generate gross proceeds of approximately EUR 76 million.

In Lenzing´s Rights Offering, existing shareholders, other than the B
& C Group, exercised approximately 52.7% of their subscription
rights. The remaining shares not subscribed for by existing
shareholders have been placed among Austrian and international
investors. The orders of Austrian retail investors were fully
allocated.

As a result of the capital increase, Lenzing's equity capital will
increase from EUR 712.4 million to EUR 782.2 million. The new shares
are expected to commence trading in the Prime Market Segment of the
Vienna Stock Exchange on June 17, 2011, and are fully entitled to
dividends for the business year 2011.

After the placement of new and existing shares, Lenzing´s free float
will increase to approximately 32.4% (34.5% if the greenshoe option
is fully exercised).

The Re-IPO will substantially improve Lenzing's long-term access to
the capital market. In particular, the capital increase will optimize
Lenzing´s funding mix for its planned investment program and future
growth. B & C plans to retain its active role as a long-term core and
majority shareholder of Lenzing in the future.

Disclaimer: This information is not an offer of securities for sale
or a solicitation of an offer to purchase any securities of Lenzing
AG. The offering has been completed and the shares offered in this
offering have already been placed. The above-mentioned shares of
Lenzing AG have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act") and may not
be offered or sold in the United States absent registration or an
exemption from the registration requirements under the Securities
Act.

This statement is directed only at persons (i) who are outside the
United Kingdom or (ii) who have professional experience in matters
relating to investments falling within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended) (the "Order") or (iii) who fall within Article 49(2)(a) to
(d) ("high net worth companies, unincorporated associations etc.") of
the Order (all such persons together being referred to as "Relevant
Persons"). Any person who is not a Relevant Person must not act or
rely on this communication or any of its contents. Any investment or
investment activity to which this communication relates is available
only to Relevant Persons and will be engaged in only with Relevant
Persons.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-96301
mailto:a.guldt@lenzing.com

end of announcement euro adhoc
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issuer: Lenzing AG

A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: a.guldt@lenzing.com
WWW: http://www.lenzing.com
sector: Chemicals
ISIN: AT0000644505
indexes: WBI, Prime Market
stockmarkets: free trade: Berlin, official market: Wien
language: English