25.01.2008 – 07:55

conwert Immobilien Invest SE

euro adhoc: conwert Immobilien Invest SE
Buybacks
conwert Immobilien Invest SE starts share buyback

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.

25.01.2008

conwert Immobilien Invest SE starts share buyback

Vienna, 25.01.2008. The extraordinary general meeting of conwert 
Immobilien Invest AG passed a resolution on 25 October 2007, which 
authorises the Management Board to repurchase the company´s shares up
to the legally defined maximum of 10% of issued capital. This 
authorisation is valid for a period of 18 months beginning on the 
date the resolution was passed. In this connection, the general 
meeting also confirmed the validity of the authorisation for conwert 
Immobilien Invest SE after the change in the company´s legal form. 
The resolution was published on the conwert website under 
www.conwert.at on 25 October 2007. The Administrative Board of 
conwert Immobilien Invest SE decided to make use of this 
authorisation and defined the following share buyback programme:

Duration:         31.01.2008 to 30.06.2008 at the latest
Class of shares:  Common shares
Planned volume:   Up to 10% of issued capital, therefore
                  a maximum of 8,535,927 common shares
Purchase price:   EUR 8.00 to EUR 11.00 per share
Form of purchase: Over the Stock Exchange
Purpose:          For the purpose permitted by § 65 (1) 8 of the
                  Austrian Stock Corporation Act, in particular for use
                  in the acquisition of companies and properties

The Administrative Board approved this programme because the current 
market price of the company´s share is roughly 35% below its book 
value (NAV) and provides a good opportunity to buyback own shares at 
a cheap level to use them amongst others for later acquisitions.

Any changes as well as the transactions carried out as part of the 
share buyback programme will be published on the website of conwert 
Immobilien Invest SE under www.conwert.at in accordance with the 
Austrian Stock Corporation Act and the relevant publication 
directive.

end of announcement                               euro adhoc

Further inquiry note:

conwert Immobilien Invest SE, Johann Kowar, Chief Executive Officer,
T +43 / 1 / 521 45-200, E kowar@conwert.at

Hochegger|Financials, Roland Mayrl, T +43 / 1 / 504 69 87-31,
E r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wiener Börse AG / official dealing