OIAG PRESS RELEASE

The Austrian government has paved the way for taking the Austrian Post public with an addition to OIAG’s existing privatisation mandate. Under the terms of this mandate, OIAG has been authorised to prepare an initial public offering for up to 49% of the company. This mandate from the Austrian government will ensure that OIAG continues to be the Austrian Post majority shareholder. Ensuring that the government retains its majority shareholding will provide the stability necessary for the forthcoming changes on the postal sector. At the same time, the Post will benefit from all the advantages of a stock exchange listing, first and foremost of them being flexible financing on reasonable terms for its ambitious expansion plans.

In accordance with the OIAG Act, the next step will be for the Managing Board of OIAG to submit its privatisation plan for the Post to OIAG’s Supervisory Board. This plan will be based on the objective of positioning Post shares as a widely owned, popular Austrian investment, thus enabling both employees and customers to own shares in their Post Office.

“This IPO is the logical consequence of the Post’s rigorous restructuring programme,” comments Peter Michaelis, spokesman of OIAG’s Managing Board. “With this boost from the capital market, the Post will be in a better position to operate in an increasingly liberalised market. Only a profitable company can continue not only to serve the Austria population in the future, but also to steadily improve the quality of its postal services. The previous IPOs organised by OIAG have clearly demonstrated that the company, its employees and customers all stand to benefit equally.”

Vienna, 12 January 2006

Further Information:
OIAG Corporate Communications
Tel.: 01/711 14-602
Mobile: 0664/13 40 333
Österreichische Industrieholding AG