EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft / INVESTKREDIT ANNOUNCE RESULTS OF INVITATION FOR OFFERS TO SELL NOTES

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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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29.06.2012

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO ANY PERSON RESIDENT
AND/OR LOCATED IN THE UNITED STATES OR TO ANY U.S. PERSON

On 14 June 2012, Österreichische Volksbanken-Aktiengesellschaft
("ÖVAG") and Investkredit Funding Ltd ("Investkredit") announced that
ÖVAG was inviting holders of the EUR50,000,000 subordinated
non-cumulative Limited Recourse Notes (ISIN: DE0009576108 and WKN:
957 610) issued by Investkredit on 28 November 2002 (the "Notes") to
offer to sell any and all of their Notes to ÖVAG for cash (the
"Invitation"). The terms and conditions of the Invitation are set out
in the Invitation Memorandum dated 14 June 2012 (the "Invitation
Memorandum"). Capitalised terms used in this announcement have the
meanings ascribed to them in the Invitation Memorandum. Invitation
The Invitation expired at 5 p.m., CET, on 28 June 2012. ÖVAG intends
to accept for purchase all Notes validly offered for sale.
Accordingly, ÖVAG accepts for purchase EUR24,931,000 in aggregate
nominal amount of the Notes. Noteholders whose offers to sell have
been accepted by ÖVAG will receive EUR400 per EUR1,000 nominal amount
of the Notes and the Accrued Interest Payment, in immediately
available funds in cash on the Settlement Date. Following the
completion of the Invitation, the aggregate nominal amount of the
Notes that will remain outstanding will be EUR25,069,000. The
Settlement Date is expected to be 4 July 2012.

Stock exchange listed issues of participation capital issued by
Österreichische Volksbanken-Aktiengesellschaft: ISIN: AT0000755665
Österreichische Volksbanken-AG Partizipationsscheine XS0359924643 EUR
500,000,000 Perpetual Non Cumulative Participation Capital
Certificates The five biggest listed issues of Österreichische
Volksbanken-Aktiengesellschaft in terms of issue volume:

ISIN:
XS0451759012
XS0417722393
AT000B053442
XS0275528627
AT000B061437

The issues of Österreichische Volksbanken-Aktiengesellschaft are
admitted on the following stock exchanges:

Second Regulated market of Wiener Börse AG
Official trading of Wiener Börse AG
Regulated market of Baden-Württembergische Wertpapierbörse
Regulated market of the Prague Stock Exchange
Regulated market of the Luxembourg Stock Exchange
Open Market of Berlin Stock Exchange
Open Market of Stuttgart Stock Exchange
Open Market of Frankfurt Stock Exchange

Further inquiry note:
Ansprechpartner:
Walter Gröblinger
Tel.: +43/ (0) 50 4004-0
E-Mail: walter.groeblinger@volksbank.com

end of announcement euro adhoc
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issuer: Österreichische Volksbanken-Aktiengesellschaft
Kolingasse 19
A-1090 Wien
phone: +43 0 50 4004-0
WWW: www.volksbank.com
sector: Banking
ISIN: AT0000755665
indexes: Standard Market Auction
stockmarkets: Regulated free trade: Wien, stock market: Prague Stock Exchange
language: English