This successful development was also honoured by the capital market: a capital increase in May 2006 and the issue of a convertible bond in January 2007 raised proceeds of EUR 1.67 billion. In addition, IMMOEAST issued new shares with a total value of EUR 2.75 billion. These transactions made the IMMOFINANZ Group the most active issuer by far on the Vienna Stock Exchange.

The strong growth of IMMOEAST during 2006/07 was accompanied by a further improvement in earnings, which also supported the development of the IMMOFINANZ share. With an increase of 37.8% in the share price during the reporting year, IMMOFINANZ was the most successful property stock in Austria.

The 2006/07 financial year was not only profitable for IMMOFINANZ, but also extremely rewarding for you as the owners of the company – and we expect to continue this success course in the future based on the dynamic growth of the Group, its solid financial basis and the strong economic momentum in the countries where IMMOFINANZ is active.

Norbert Gertner, Member of the Executive Board

Karl Petrikovics, Chief Executive Officer