EANS-Adhoc: Lenzing AG / Lenzing Sells Business Unit Plastics

--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------

Strategic management decisions/Company Information
17.04.2013

Consortium led by Invest AG is the new owner

As part of its efforts to further concentrate on its core business of
manufacturing fibers, Lenzing AG agreed to sell 85% of its
shareholding in the Business Unit Plastics (Lenzing Plastics GmbH) to
an Austrian bidding consortium led by Invest AG, the investment
company of the Raiffeisen Banking Group Upper Austria based in Linz.
The valuation equals close to 8 EBITDA multiples of the 2012
financial year. This decision was preceded by a multi-stage bidding
process in which the new owner proved to the best bidder.

In the 2012 financial year Lenzing Plastics generated total sales of
EUR 109.4 mn and an EBITDA of EUR 11.2 mn.

"For strategic reasons Lenzing aims to increasingly focus on its core
fiber business, which currently already accounts for 90% of
consolidated sales. With this change of ownership we will enable the
excellent company Lenzing Plastics to grow further and optimally
exploit business opportunities under a new and experienced industrial
owner", says Lenzing's Chief Executive Officer Peter Untersperger in
justifying the decision to dispose of the company. Moreover, the
present consortium comprises a stable, Austrian solution featuring a
responsible owner.

The fact that Lenzing will maintain an interest in Lenzing Plastics
as a minority shareholder underlines its ongoing connection to the
company, whose production operations have been located at the Lenzing
site for decades. Lenzing Plastics will continue to make use of
infrastructure services provided by Lenzing AG.

"We see outstanding future and development potential in this
high-tech Upper Austrian company, and consider Lenzing AG to be an
excellent partner to further develop the company", says Heinrich
Schaller, Chief Executive Officer of Raiffeisenlandesbank Upper
Austria.

Invest AG currently features a funding volume of EUR 150 mn
consisting of about 25 participatory stakes in Austria and Southern
Germany. It will support Lenzing Plastics with equity capital and
contribute its experience in growth financing. The consortium, in
which Invest AG holds a 30% stake, also includes OÖ
Beteiligungsgesellschaft m.b.H. & Co OG (18%) and Tyrol Equity AG
(30%). Johann Huber, the current Managing Director of Lenzing
Plastics GmbH, and Christian Reisinger, who was previously a
longstanding Member of the Management Board of Lenzing AG, also
belong to the consortium (together 7%). "We are convinced that we
will be able to accompany Lenzing Plastics jointly into a promising
future thanks to our successful and experienced team", Heinrich
Schaller adds.

The sale of Lenzing Plastics is subject to approval by the corporate
bodies as well as anti-trust authorities. The closing of the
transaction is expected at the end of the second or beginning of the
third quarter of 2013.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Head of Corporate Communications
Phone: +43 (0) 7672 701-2713
E-mail: a.guldt@lenzing.com

Raiffeisenlandesbank Oberösterreich AG
Harald WETZELSBERGER
Public Relations und Medienservice
Phone: +43 (0) 732 6596 22009
E-mail: wetzelsberger@rlbooe.at

end of announcement euro adhoc
--------------------------------------------------------------------------------

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, ATX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien
language: English