OIAG PRESS RELEASE

Information following Supervisory Board meeting of ÖIAG: decision not yet reached regarding sale of AUA; request made for privatisation contract to be extended

Vienna, 27. October 2008

In the sales process for Austrian Airlines, concepts have been submitted. However, these include a demand for a subsidy to strengthen the financial base of AUA, which ÖIAG itself cannot pay due to the lack of a legal basis. For this reason, it has not yet been possible to reach a decision regarding the sale of Austrian Airlines.

The Supervisory Board of ÖIAG is therefore requesting that the Federal Government extend the privatisation mandate in order to create the legal framework conditions necessary for the transaction to be concluded successfully as rapidly as possible, in particular the measures required to secure the overall Austrian economic interests.

ÖIAG Chief Executive Officer Dr. Peter Michaelis made the following statement: “We have carried out the process according to schedule, as far as presentation of conclusive offers. However, these include details over which we cannot reach a decision alone according to the ÖIAG Act. We have reported to the Federal Government and to the Supervisory Board in detail regarding the situation as it stands, both yesterday and today.”

For further details please contact:
Österreichische Industrieholding AG           
Anita Bauer           
Dresdner Strasse 87, 1201 Wien
T: +43/1/711 14-240
M: +43/664/13 40 333
E: Anita.bauer@oiag.at