Vienna Insurance Group

Wiener Städtische Versicherung AG Vienna Insurance Group: Dividend
Share Repurchase

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insurances/dividend/share repurchase

Wien (euro adhoc) - On 16 April 2008 the 17th Annual General Meeting of Wiener Städtische Versicherung AG Vienna Insurance Group adopted, among others, the following resolutions:

DIVIDEND

For the financial year 2007 a dividend of EUR 1.10 per ordinary share, hence EUR 115,500,000.00, was distributed on the 105,000,000 dividend-bearing ordinary shares.

Payment of dividend will be made from 28 April 2008 onwards in exchange for dividend warrant no 15.

Provided that the paying agent has not been informed of any exemptions under Section 94 of the 1988 Income Tax Act in due time, the dividend will be paid less 25% capital gains tax.

ERSTE BANK der oesterreichischen Sparkassen AG, Graben 21, 1010 Vienna, is the paying agent.

Ex-dividend trading on the Vienna Stock Exchange: from 28 April 2008 onwards.

SHARE REPURCHASE

Pursuant to Section 65 para. 1 subparagraphs 4 and 8 of the Stock Corporation Act, the Managing Board has been authorised by the Annual General Meeting to purchase the statutory maximum number of the Company's own no-par value shares in bearer form during a maximum period of 30 months following the resolution of the Annual General Meeting. The consideration payable upon repurchase may not be lower than 50% or higher than 10% of the average unweighted closing rates of the last ten trading days preceding the repurchase. The Managing Board may choose whether to repurchase the shares via the stock exchange or through a public offer or in any other appropriate manner permissible under the law.

The Managing Board has further been authorised

a)    to issue own shares to employees and  executives  of  the  Company  or  to
      employees,  executives,  and  managing  board  members  of  any  companies
      affiliated with the Company;

b)    to use own shares for servicing convertible bonds issued on the  basis  of
      the resolution of the Annual General Meeting of 16 April 2008;

c)    to sell own shares at any time via the stock exchange or through a  public
      offer, as provided for in Section 65 para. 1b  of  the  Stock  Corporation
      Act. Moreover,  for  a  maximum  duration  of  five  years  following  the
      resolution, the Managing Board has been authorised to sell, in  any  other
      manner, the own shares purchased, without excluding or  by  completely  or
      partly excluding subscription rights. The written report  on  the  grounds
      for the exclusion of subscription rights has been submitted to the  Annual
      General Meeting. 

Vienna, April 2008 The Managing Board

WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group

ISIN: AT0000908504

end of announcement                               euro adhoc
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Further inquiry note:

Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
A-1010 Wien, Schottenring 30
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: WBI, ATX Prime, ATX
Börsen: Prague Stock Exchange / stock market
Wiener Börse AG / official market
Original-Content von: Vienna Insurance Group, übermittelt durch news aktuell

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