Ad hoc announcement

Miscellaneous

IMMOFINANZ AG: IMMOFINANZ AG reduces through successful exchange offer the li-abilities from convertible bonds from EUR 1,500 million to EUR 1,187 million (preliminary result) 

Ad hoc announcement transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
------------------------------------------------------------------------------


Ad-hoc IMMOFINANZ AG

Vienna, 24 April 2009

IMMOFINANZ AG reduces through successful exchange offer the li-abilities
from convertible bonds from
EUR 1,500 million to EUR 1,187 million (preliminary result) 

IMMOFINANZ AG has completed its next restructuring step according to plan.
The reduction of liabilities by EUR 313 million resulting from the exchange
offer is a fur-ther significant step towards the sustainable strengthening
and development of the company.
On 6 April 2009, IMMOFINANZ AG (the 'Company') made an exchange offer to
all holders of EUR 750,000,000 2.75% convertible bonds of the Company due
2014 (the '2014 Convertible Bonds'), and to all holders of EUR 750,000,000
1.25% con-vertible bonds of the Company due 2017 (the '2017 Convertible
Bonds' and to-gether with the 2014 Convertible Bonds the 'Existing
Convertible Bonds'), to ex-change 2014 Convertible Bonds and 2017
Convertible Bonds for up to EUR 600,000,000 7.00% new convertible bearer
bonds of the Company due 22 December 2011, with a minimum principal amount
of EUR 100,000 each, ISIN XS0416178530 (the 'New Convertible Bonds') and
for delivery of a cash pay-ment (the 'Exchange Premium') in the aggregate
amount of up to EUR 75,000,000 (the 'Offer').

The company herewith announces preliminary results as follows:

The holders of Existing Convertible Bonds tendered for exchange a total of
5,690 Existing Convertible Bonds in the principal amount of EUR 100,000
each. This represents an acceptance rate of approximately 38%.
 
Due to this acceptance rate of approximately 38% 
and due to the exchange ratio the
Company's nominal liabili-ties from the Existing Convertible Bonds will
decrease from an aggregate amount of EUR 1,500 million to EUR 1,187 million
and the Company's equity will increase by up to EUR 313 million. The
aggregate principal amount of the New Convertible Bonds that will be issued
in the course of the Offer amounts to EUR 227.6 million. The aggregate
amount of the Exchange Premium to be paid amounts to EUR 28.5 million.

It is anticipated that the New Convertible Bonds and Exchange Premium will
be de-livered and paid respectively on 28 April 2009 to those holders of
Existing Converti-ble Bonds that duly accepted the Offer. The final result
expected to be published on April 27, 2009.


Investor Relations Contact:
Margit Hermentin
Head of Investor Relations
IMMOFINANZ & IMMOEAST AG
A-1120 Wien, Gaudenzdorfer Gürtel 67
Tel.: + 43/1/532 06 39-0
Fax: +43/1/532 06 39-790
e-mail:  
m.hermentin@immofinanz.com
m.hermentin@immoeast.com

Press Contact:
Brandstätter Business Communications
Dr. Helmut Brandstätter
info@brandstaetter.tv
Tel: +43 1 907 67 67



(c)DGAP 24.04.2009 
--------------------------------------------------------------------------- 
Language:     English
Issuer:       IMMOFINANZ AG
              Gaudenzdorfer Gürtel 67 
              A-1120 Wien
              Österreich
Phone:        +43 1 536 16 - 418 
Fax:          +43 1 536 16 - 491
E-mail:       investor@immfinanz.com
Internet:     http://www.immofinanz.com
ISIN:         AT0000809058
WKN:          911064
Listed:       Freiverkehr in Berlin, München, Stuttgart; Open Market in
              Frankfurt; Foreign Exchange(s) Wien
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------