Ad hoc announcement

UniCredit Bank Austria AG / Keyword(s): Legal Matter

UniCredit Bank Austria AG: Decision of the Court of Cassation of the Zurich
Canton

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Ad-hoc Release according to § 48d (Austrian) Stock Exchange Act

BA Switzerland - Decision of the Court of Cassation of the Zurich Canton 

Date of entry: 2 December 2011

Ad-hoc Release according to § 48d (Austrian) Stock Exchange Act

Vienna, 2 December 2011

UniCredit Bank Austria AG ('Bank Austria') has joined as a process-guiding
intervening party in support of the defendant AKB Privatbank Zürich AG
[formerly a subsidiary of Bank Austria and formerly Bank Austria (Schweiz)
AG] in a suit relating to alleged claims of Bundesanstalt für
vereinigungsbedingte Sonderaufgaben ('BvS', formerly Treuhandanstalt), the
German public body for the new Länder reconstruction.

BvS argues that the former subsidiary should have been aware that their
customers, former East German companies, could have been assets belonging
to the former socialist party of East Germany 'SED' and, thus, account
balances of these companies should not have been transferred to their
former sole director without prior consent of BvS. Based on these
allegations, BvS is requesting that the former account balance of
approximately EUR 128 million is paid out again, plus interest dating back
to 1992, plus costs.

On June 25, 2008 the Zurich District Court rejected the request of BvS.

On March 25, 2010 the Court of Appeal of Zurich granted the appeal of BvS
and ordered Bank Austria's former subsidiary - which Bank Austria is
obliged to indemnify - to pay approximately EUR 245 million (including
accrued interest and costs calculated as of today). Bank Austria filed an
appeal against that judgment before the Court of Cassation of the Zurich
Canton and received a stay of execution.

On 30 November 2011 (decision served on 2 December 2011) the Court of
Cassation granted Bank Austria's appeal, revoked the judgment for the
plaintiff issued by the Court of Appeal of Zurich (dated March 25, 2010)
and remanded the case back to the Court of Appeal for reconsideration.


Contact:
Günther Stromenger
Corporate Relations - Bank Austria
phone: +43 (0) 50505 - 57232
e-mail: guenther.stromenger@unicreditgroup.at





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Language:     English
Company:      UniCredit Bank Austria AG
              Schottengasse 6 - 8
              1010 Wien
              Austria
Phone:        0043 (0) 50505 - 57232
Fax:          0043 (0) 50505 - 8957232
E-mail:       investor.relations@unicreditgroup.at
Internet:     www.bankaustria.at
ISIN:         AT0000995006
WKN:          99500
Listed:       Luxembourg, Wien (Amtlicher Handel / Official Market)
 
End of Announcement                             DGAP News-Service
 
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