EANS-Adhoc: immigon portfolioabbau ag / Forecast for year end results 2015; low three-digit million figure expected as year end result (27 August 2015)

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Earnings Forecast/Company Information
27.08.2015

Ad-hoc release pursuant to the Austrian Stock Exchange Act
(Börsegesetz - BörseG) / immigon portfolioabbau ag immigon: Forecast
for year end results 2015; low three-digit million figure expected as
year end result (27 August 2015)

immigon portfolio ag has achieved a positive effect on its results
deriving from the buyback programme for non-subordinated liabilities
offered from 10 July through 28 July 2015 resulting from the
repurchase below the repayment amount and the subsequent termination
of de-rivatives (see ad hoc release dated 31 July 2015). Following
the final calculation of the amounts due resulting from the
termination of the derivatives, which were entered into in connection
with the repurchased issuances, and determination of the effects
thereof on the profit and loss statement and taking into account the
results of the wind-down measures, the sale of shareholdings and
further valuation assessments, the management board has pre-pared a
new forecast for 2015 on 27 August 2015. Based on its current
estimate, the management board is expecting a low three-digit million
figure as annual net profit after taxes for immigon portfolioabbau
ag's individual financial statements (Austrian Commercial Code -
UGB). So far, an amount of approximately EUR 25 million was expected
as annual net profit after taxes for immigon portfolioabbau ag's
individual financial statements (see the presentation Neuordnung
Volksbanken-Verbund, Spaltung, Abbaugesellschaft published on immigon
portfolioabbau ag's homepage - as referred to in the ad hoc release
dated 24 June 2015).

immigon portfolioabbau ag is a wind-down company in accordance with
the Federal Act on the Recovery and Resolution of Banks (BaSAG) and
is thus exposed to uncertainties and risks of its wind-down process,
such as risks related to the proceeds achievable in the course of the
sale of its assets, outstanding loans, higher expenses and warranty
claims.

As far as the likelihood of payments in respect of certain
profit-related instruments (in accordance with the terms and
conditions of such instruments) for the financial year 2015 is
concerned, immigon portfolioabbau ag may refer to its ad hoc release
dated 31 July 2015. As of today, it is envisaged that, in order to
protect itself against the risks in the wind-down process, immigon
(in particular due to its business activity as wind-down company)
will transfer its net profit to its reserves to the largest extent
possible.

Mandatory information pursuant to the disclosure and notification
regulation (Verö-ffentlichungs- und Meldeverordnung - VMV)

The following issues of participation capital (Partizipationskapital)
of immigon portfolioabbau ag (formerly Österreichische
Volksbanken-Aktiengesellschaft) are admitted to trading on a
regulated market in a Member State of the European Economic Area:

ISIN: AT0000755665 Österreichische Volksbanken-AG Participation
Certificates XS0359924643 EUR 500,000,000 Perpetual Non Cumulative
Participation Capital Certifica-tes (issued by Banque de Luxembourg
as trustee)

The five bonds issued by immigon portfolioabbau ag (formerly
Österreichische Volksbanken-Aktiengesellschaft) with the highest
nominal volume:

ISIN:

AT000B056544
AT000B053442
XS0275528627
AT000B060462

AT0000439690

Securities issued by immigon portfolioabbau ag (formerly
Österreichische Volksbanken-Aktiengesellschaft) are admitted to
trading on the following stock exchanges:

Geregelter Freiverkehr of the Vienna Stock Exchange (Wiener Börse AG)
Amtlicher Handel of the Vienna Stock Exchange (Wiener Börse AG)
Regulated Market of Luxembourg Stock Exchange
Open market (Freiverkehr) of Berlin Stock Exchange
Open market (Freiverkehr) of Stuttgart Stock Exchange
Open Market (Freiverkehr) of Frankfurt Stock Exchange

Press contact:
Thomas Heimhofer
immigon portfolioabbau ag
mobile: +43 (676) 790 7890
email: thomas.heimhofer@immigon.com

Further inquiry note:
immigon portfolioabbau ag
Thomas Heimhofer
Mobil: +43 (0)676 790 7890
Mail to: thomas.heimhofer@immigon.com
www.immigon.com

end of announcement euro adhoc
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issuer: immigon portfolioabbau ag
Peregringasse 2
A-1090 Wien
phone: +43 (0)1 313 40-0
mail: info@immigon.com
WWW: www.immigon.com
sector: Banking
ISIN: AT000B056544, AT000B053442, XS0275528627, AT000B060462,
AT000B115902
indexes:
stockmarkets: free trade: Berlin, Stuttgart, regulated dealing: Luxembourg Stock
Exchange, Regulated free trade: Wien
language: English