10.03.2005 – 07:53

Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Restructuring & Recapitalisations
Schoeller-Bleckmann Oilfield Equipment AG: Largest strategic investment programme in the company’s history - funding by issue of up to 3 million shares - free fl

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

09.03.2005

Ternitz/Vienna, March 10, 2005. Schoeller-Bleckmann Oilfield
Equipment AG (SBO), listed in the prime market of the Vienna Stock
Exchange, plans the largest investment programme in the company’s
history. As the Managing Board has announced SBO is planning to spend
approximately EUR 100 mn until 2007 for strategic investments. These
investments will include the expansion of production capacities, new
sites and the expansion of the high-precision components' business
for the oilfield service industry. Approximately half of the
programme will be financed by a capital increase being carried out as
of now until March 25, from cash-flow and outside funds.

The new shares offered for subscription as of today, Thursday, will
be issued under a combined offer. On the one hand, this offer
consists of a subscription rights offer to existing shareholders who
may exercise their subscription rights until the end of the
subscription period on March 25. The subscription ratio is 13:3, so
that for 13 old shares 3 new shares can be subscribed. A trading of
subscription rights is not planned. On the other hand, the combined
offer of SBO comprises of a public offer to private and institutional
investors in Austria as well as of a private placement to
international institutional investors. In addition, Berndorf AG,
which currently holds just above 50% of the shares of SBO, will offer
another 1.16 million shares. Finally, Berndorf AG granted an over
allotment option of up to 500,000 shares to the Joint Lead Managers
will be added from 's portfolio.

Berndorf AG no longer holds majority, but remains core shareholder

After complete placement of the new shares and Berndorf AG's shares
as well as in case of full exercise of the over allotment option, SBO
will be a publicly owned company of which Berndorf AG will remain the
largest shareholder with approximately 31 %.

The issue price will be determined by way of a book building
procedure, whereby the maximum price shall be EUR 22.00 per share.
The final issue price per share will presumably be announced on
presumably March 29, 2005. The new shares will be fully entitled to a
dividend for the financial year 2005 and will be quoted in the
segment prime market, ATX of the Vienna Stock Exchange, presumably as
of April 1, 2005.

The transaction is led by Raiffeisen Centrobank as the sole global
coordinator. Joint Lead Managers and Joint Bookrunners are Raiffeisen
Centrobank and Bank Austria Creditanstalt.

The Managing Board of SBO will participate privately in the capital
increase.

Schoeller-Bleckmann Oilfield Equipment AG is the global leader for
high-precision components for the oilfield service industry. The
business focus is on non-magnetic drillstring components for
directional drilling. Worldwide, SBO employs a workforce of 837
(December 31, 2003: 800), currently 211in the company headquarters at
Ternitz, Lower Austria, and 435 in North America (including Mexico).
The majority shareholder of the company is Berndorf AG.

Important notice:

"Diese Presseaussendung sowie die darin enthaltenen Informationen
dürfen nicht in die Vereinigten Staaten von Amerika (USA), nach
Kanada, Japan oder Australien gebracht oder übertragen werden oder an
US-amerikanische, kanadischen, japanischen oder australischen
Personen (einschließlich juristischer Personen) sowie an
Publikationen mit einer allgemeinen Verbreitung in den USA, in
Kanada, Japan oder Australien verteilt oder übertragen werden. Jede
Verletzung dieser Beschränkungen kann einen Verstoß gegen
US-amerikanische, kanadische, japanische oder australische
wertpapierrechtliche Vorschriften begründen. Aktien der
SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesellschaft (die
"Gesellschaft") werden in den USA, in Kanada, Japan oder Australien
nicht zum Kauf angeboten. Diese Presseaussendung ist kein Angebot zum
Kauf oder zur Zeichnung von Aktien oder sonstigen Wertpapieren und
Finanzinstrumenten. Wertpapiere der Gesellschaft werden außerhalb von
Österreich, insbesondere in den USA, nicht öffentlich zum Kauf
angeboten. Ein börse- und kapitalmarktrechtlichen Vorschriften
entsprechender Prospekt wurde am 9.März 2005 bei Oesterreichische
Kontrollbank Aktiengesellschaft als Meldestelle hinterlegt und gemäß
§ 10 Kapitalmarktgesetz im Amtsblatt zur Wiener Zeitung
veröffentlicht. Der Prospekt ist am Sitz der SCHOELLER-BLECKMANN
OILFIELD EQUIPMENT Aktiengesellschaft, Hauptstraße 2, 2630 Ternitz,
bei Raiffeisen Centrobank AG, Tegetthoffstraße 1, 1015 Wien, sowie
bei Bank Austria Creditanstalt AG, Vordere Zollamtsstraße 13, 1030
Wien, Am Hof 2, 1010 Wien, und Schottengasse 6, 1010 Wien, zu den
üblichen Geschäftszeiten in Form einer Broschüre unentgeltlich
erhältlich. Im Zusammenhang mit dem Angebot von Aktien der
Gesellschaft sind ausschließlich die Angaben im Prospekt
verbindlich."

"THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF
AMERICA, CANADA, JAPAN AND AUSTRALIA AND SHOULD NOT BE DISTRIBUTED TO
US-, CANADIAN, JAPANESE OR AUSTRALIAN PERSONS OR PUBLICATIONS WITH A
GENERAL CIRCULATION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA.
IN ADDITION, THE SHARES OF SCHOELLER-BLECKMANN OILFIELD EQUIPMENT
AKTIENGESELLSCHAFT (THE "COMPANY") HAVE NOT BEEN REGISTERED UNDER THE
UNITED STATES, CANADIAN, JAPANESE AND AUSTRALIAN SECURITIES LAWS AND
MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES,
CANADA, JAPAN OR AUSTRALIA OR TO US-, CANADIAN, JAPANESE OR
AUSTRALIAN PERSONS. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR
INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SHARES OR ANY OTHER
SECURITIES. SECURITIES OF THE COMPANY ARE NOT PUBLICLY OFFERED
OUTSIDE OF AUSTRIA, IN PARTICULAR THE U.S.A. AN OFFERING CIRCULAR
(PROSPECTUS) PREPARED IN ACCORDANCE WITH APPLICABLE AUSTRIAN CAPITAL
MARKETS AND STOCK EXCHANGE LAWS HAS BEEN FILED WITH OESTERREICHISCHE
KONTROLLBANK AKTIENGESELLSCHAFT AS NOTIFICATION OFFICE ON MARCH 9,
2005 AND PUBLISHED IN ACCORDANCE WITH SECTION 10 OF THE AUSTRIAN
CAPITAL MARKETS ACT. THE OFFERING CIRCULAR MAY BE OBTAINED AT
SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AKTIENGESELLSCHAFT,
HAUPTSTRASSE 2, A-2630 TERNITZ, AT RAIFFEISEN CENTROBANK AG,
TEGETTHOFFSTRASSE 1, A-1015 VIENNA, AND AT BANK AUSTRIA CREDITANSTALT
AG, VORDERE ZOLLAMTSSTRASSE 13, A-1030 VIENNA, AM HOF 2, A-1010
VIENNA, AND SCHOTTENGASSE 6, A-1010 VIENNA, DURING USUAL BUSINESS
HOURS. IN CONNECTION WITH THE PUBLIC OFFERING OF SHARES OF THE
COMPANY, ONLY THE INFORMATION CONTAINED IN THE OFFERING CIRCULAR IS
LEGALLY BINDING."

end of announcement                    euro adhoc 10.03.2005 07:15:00 

Further inquiry note:

Gerald Grohmann, Chief Executive Officer
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 ext. 110, fax: ext. 101
E-mail: sboe@sbo.co.at

Mick Stempel, Hochegger|Financials
Tel: +43 1/504 69 87 ext. 85
E-mail: m.stempel@hochegger.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 94665
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official dealing