21.12.2005 – 13:47

Wiener Städtische Versicherung AG - VIENNA INSURANCE GROUP

euro adhoc: Wiener Städtische Allg. Vers. AG
Restructuring & Recapitalisations / Exercise in full of over-allotment option underlines success of Wiener Städtische capital increase

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

21.12.2005

Please note: This is a translation; only the German version of this
news release is authoritiative

Distribution in or into the USA, Canada, Japan or Australia not
permitted.

Wiener Städtische Wechselseitige
Versicherungsanstalt-Vermögensverwaltung (main shareholder of Wiener
Städtische Allgemeine Versicherung AG) has granted to the syndicate
banks in conjunction with the capital increase of Wiener Städtische
an option to purchase up to 2,796,300 shares to cover over-allotments
(Greenshoe). Herewith Wiener Städtische is announcing that the
syndicate has fully exercised the Greenshoe today.

This increases the total number of shares placed in Wiener
Städtische’s Global Offering to 21,438,700 shares, the maximum number
available under the terms of the offering. Including the exercise in
full of the over-allotment option the free float rises to about 29
percent after the capital increase.

"The exercise of the Greenshoe due to the strong demand from
investors underlines the success of the biggest capital increase ever
carried out on the Vienna Stock Exchange by an insurance group," says
Wiener Städtische CEO Günter Geyer. "Our success is also shown in
that the Global Offering was more than twice subscribed."

Wiener Städtische Allgemeine Versicherung AG
Schottenring 30
A-1010 Vienna
ISIN: AT0000908504

Note:

Furthermore, these materials are not being issued in the United
States of America and should not be distributed to United States
persons or publications with a general circulation in the United
States. These materials are not an offer for sale of the securities
in the United States. No public offering of the securities will be
made in the United States. The securities have not been registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be sold in the United States absent registration
or an exemption from registration under the Securities Act.

Not for distribution in or into the USA, Canada, Japan or Australia

end of announcement                               euro adhoc 21.12.2005 13:11:17

Further inquiry note:

Mag. Birgit Reitbauer
Wiener Städtische Unternehmenskommunikation
Tel.: +43 (0)50 350-21336
Fax: +43 (0)50 350 99-21336
E-Mail: b.reitbauer@staedtische.co.at

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: ATX Prime, ATX, WBI
Börsen: Wiener Börse AG / official market