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Keen Interest in First Raiffeisen International Capital Markets Day.

More than 80 analysts and investors attended the first RaiffeisenInternational Capital Markets Day. Focus of attention on acquisition ofUkrainian Bank Aval.

The first Raiffeisen International Bank-Holding AG (RaiffeisenInternational) Capital Markets Day was extremely well attended. Morethan 80 analysts and investors from around the world came to Vienna tolearn first-hand about Raiffeisen International.

Herbert Stepic, CEO of Raiffeisen International, providing an outlookfor 2005 said:"For this financial year we expect a strong profitincrease". The Management Board expects group profits (after minorities)to be approximately 50 per cent above the level of last year (2004:€ 209 million), excluding Bank Aval. For 2006 to 2007, the management anticipates an average total asset growth of 20 per cent per year.

For the year 2007 the company still targets a return on equity (ROE)before tax of at least 25 per cent, a cost/income ratio of below 60 percent and risk/earnings ratio of below 15 per cent. Due to thecontinuously improving conditions in Central and Eastern Europe (CEE)the management board considers a core capital ratio (tier1) of 8 percent as sufficient.

The main focus of the day was Raiffeisen International’s most recent acquisition of Joint Stock Post Pension Bank Aval (Bank Aval). With a combined market share of about 12 per cent JSCB Raiffeisenbank Ukraine and Bank Aval are clear market leaders in Ukraine. The assets of Bank Aval have increased by almost 40 per cent toUSD 2.9 billion in the first half of 2005. A balance sheet according to international financial reporting standards will be prepared for the financial report for the business year 2005.

The agreement on the purchase of Bank Aval was signed in Kiev on 20August, 2005. The purchase price for 93.5 per cent of the shares was USD1.028 billion. Raiffeisen International has committed itself to takeover the shares of minority shareholders at the same price. The purchaseprice includes the cost of the shares of the authorized capital increasefrom February 2005 in the amount of approximately USD 100 million– of which 30 per cent were paid in August and the remaining 70 per cent will be paid by the sellers at the time of the closing of the transaction.

"The main emphasis for the next year is on the integration of Bank Aval.As the number one bank in Ukraine, we will fully utilize the potentialof this 50 million people market. We now operate an area-wide network ofapproximately 1,400 branches and the most recognised banking brand inthe country. Through this acquisition we have gained 3 million newcustomers to give the group a total of 9.2 million customers in theCEE-region. Dynamic growth will continue and in 2007 we aim to service12 million customers", Stepic emphasized.

Raiffeisen International will conduct a Capital Markets Day annually inautumn, enabling the continuous information flow and exchange of viewswith the financial community on the top level. From 2006 onwards theCapital Markets Day will be held in a different capital in CEE each year.

Raiffeisen International is the steering unit for the subsidiaries ofRaiffeisen Zentralbank ?sterreich AG (RZB) in Central and Eastern Europe(CEE). Its shares are traded on the Vienna Stock Exchange. RZB owns 70per cent. The balance is free-float, including shareholdings of theInternational Finance Corporation (IFC) and the European Bank forReconstruction and Development (EBRD) of about three per cent each.Raiffeisen International operates the leading banking network in CEEwith 15 subsidiary banks and numerous leasing companies in 16 markets.In eight markets, the respective Network Bank ranks among the threelargest local banks.

Raiffeisen International''s balance-sheet total amounted to€ 32.9 billion at the end of June 2005, which was 14 per cent more than at year-end 2004. Pre-tax profit for the first semester was € 273.3 million, 58 per cent more than for the same period of the previous year.

For further information please contact Michael Palzer (+43.1/71707-1504, Lars D. Hofer (+43.1/71 707-1930,,


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