EANS-Adhoc: Kommunalkredit Austria AG / Partial sale of Kommunalkredit: Value of special rights

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other 26.06.2015

Other issues 26/06/2015

Kommunalkredit Austria AG (KA), referring to its ad-hoc disclosures dated 11/08/2014 and 13/03/2015 and based on the decisions taken by the Supervisory Board today, 26/06/2015, notifies the following:

The Supervisory Board of KA, at its meeting today, adopted the following decisions: - Demerger of the entire business operations of KA (incl. all its subsidiaries) with parts of its assets and liabilities by way of a proportionate demerger into a newly incorporated company (KA New); - Merger of the part of KA remaining after the demerger (KA Residual) into KA Finanz AG (KF); - Compensation for the rights of holders of special rights under section 15 (5) Austrian Demerger Act (Spaltungsgesetz, SpaltG) as follows:

ISIN Special right Instrument Nominal in EUR Compensation in % of nominal XS0495993668 Supplementary capital 2,417,000 55% XS0495988072 Supplementary capital 6,042,500 45% XS0493857576 Participation capital 90,033,250 25% - Participation capital 12,085,000 25% - Participation capital 36,255,000 25%

The participation capital in a nominal value of EUR 12,085,000 and EUR 36,255,000 is securitised by participation capital certificates issued by Banque de Luxembourg, a Luxembourg bank, with the ISINs XS0285503248 and XS0252707624, which are quoted on the Luxembourg stock exchange. With respect to the participation capital in a nominal value of EUR 12,085,000 and EUR 36,255,000, Banque de Luxembourg acts as trustee of the holders for the participation capital certificates thus represented pursuant to the Luxembourg Law of 27/07/2003 on trusts and fiduciary contracts.

The implementation of the demerger and the merger, as described above, is subject to a number of conditions precedent and approvals to be granted by the General Meetings of KA and KF and by the competent bank regulators, the European Commission and other authorities.

ISIN: AT0000329859; XS0104786263; XS0163624504; XS0180539420; XS0186736228; XS0187975262; XS0205974701; XS0210167218; XS0213230047; XS0214564972; XS0214981812; XS0215839019; XS0215865287; XS0218474533; XS0219327524; XS0235597068; XS0236776877; XS0241451581; XS0252593198; XS0252707624; XS0252786669; XS0253410236; XS0255439803; XS0261832942; XS0267998481; XS0270872640; XS0271821513; XS0285503248; XS0299062389; XS0302365134; XS0340901908; XS0495988072; XS0592235187; XS0973424152; XS1003354252; XS1016032457; XS1017111029; XS1020014608; XS1033673440; XS1040273267; XS1045121784; XS1045221063; XS1046170699; XS1072804484; CH0020669583; CH0022280058; CH0024015452; CH0025662831

Stock exchanges: Vienna, Luxembourg, Zurich

For further information, please contact: Kommunalkredit Austria AG Investor Relations Dinah Reiss 1092 Wien/Vienna, Türkenstraße/Tuerkenstrasse 9 Tel./Phone: +43/1/31 6 31-678 Fax: +43/1/31 6 31-505 oder/or 99678 Mail: d.reiss@kommunalkredit.at WWW: www.kommunalkredit.at

Issuer: Kommunalkredit Austria AG Türkenstraße 9 A-1092 Wien Telefon: +43/1/31 6 31 Fax: +43/1/31 6 31-105 Mail: kommunal@kommunalkredit.at WWW: www.kommunalkredit.at

Sector: Banks ISIN: - Indices: Stock exchanges: Vienna Stock Exchange, Luxembourg Stock Exchange, Swiss Stock Exchange Language: English

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   June 26, 2015 12:55 ET (16:55 GMT)- - 12 55 PM EDT 06-26-15