IMMOEAST AG - The Next Successful Step in the Restructuring Programme

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 47 / 2009

Date of issue: 2009-11-27

Short name of the issuer

IMMOEAST AG

Subject

The Next Successful Step in the Restructuring Programme

Official market - legal basis

Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bie¿¹ce i okresowe

Unofficial market - legal basis

Contents of the report:

IMMOFINANZ AG and IMMOEAST AG reach an agreement with a consortium of banks on the restructuring of the "Syndicated Loan“ in the amount of EUR 415 m. After twelve months of negotiations with a consortium of banks consisting of Raiffeisen Zentralbank Österreich AG, WestLB, Landesbank Hessen-Thüringen, BNP Paribas, Eurohypo AG, Landesbank Baden-Württemberg, Oberbank AG, Credit Suisse, Investkredit Bank AG and Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft, the IMMOFINANZ Group has reached an agreement on the restructuring of an unsecured loan in the amount of EUR 415 m. The loan was arranged by WestLB and Raiffeisen Zentralbank Österreich AG in 2006 and granted into the 2012/13 business year. The restructuring of the loan has several positive effects on IMMOFINANZ, in particular, the elimination of (or substantially higher limits for) financial covenants and default criteria, the extensive cancellation of the repayment obligation due to sales and a considerably improved documentation which is adapted to the real estate business. In return, a voluntary repayment in the amount of EUR 100 m and EUR 75 m will take place in the current and next business year. The loan, which is in the sphere of IMMOEAST AG, shall be secured through a guarantee from IMMOFINANZ AG and partly through properties in the CEE region. Thus, despite the still tense situation on the credit markets, the IMMOFINANZ Group has managed to successfully continue its long-time cooperation with financing banks in Austria and abroad. With this success the IMMOFINANZ Group has managed another step in the direction of restructuring. Contact: Mag. Margit Hermentin Head of Investor Relations IMMOFINANZ & IMMOEAST AG A-1120 Vienna, Gaudenzdorfer Gürtel 67 Tel.: [phone] - 2290 Fax: [phone] - 8290 e-mail: [email protected] [email protected] www.immofinanz.com www.immoeast.com

Annexes

File Description

IMMOEAST AG

(fullname of the issuer)

IMMOEAST AG Budownictwo (bud)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

1120 Wien

(post code) (city)

Gaudenzdorfer Gurtel 67

(street) (number)

0043 5 7111 0043 5 7111-8888

(phone number) (fax)

www.immoeast.at

(e-mail) (web site)

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2009-11-27 Edgar Rosenmayr Eduard Zehetner Managing Director Managing Director