OIAG PRESS RELEASE

Privatisation of VA TECHNOLOGIE

Sale of Austrian Republic's last industrial holding

The takeover of VA TECH by Siemens Austria now been finalised with today's closing. Following the successful privatisations of Böhler-Uddeholm and voestalpine, the last industrial holding specified in OIAG's privatisation mandate has now been transferred to private ownership.

On 28 January 2005, OIAG accepted the public takeover offer made by Siemens Austria for its 14.7 per cent interest in VA TECH. On the basis of a takeover price of EUR 65, today's closing will generate privatisation revenues of EUR 146.25 million.

"We are convinced that Siemens' financial muscle and global presence will enhance the international competitiveness of both companies, thus giving a boost to Austria as an industrial location," commented Peter Michaelis, OIAG Managing Board spokesman.

Vienna, 15 July 2005

Further Information:
OIAG Corporate Communications
Anita Bauer
Mob.: +43 664 13 40 333
anita.bauer@oiag.at