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Share and Investor Relations

Stable business being the basis for a stable share price development
Despite the difficult capital market environment, investors continued to view the business model of Austrian Post in a positive light, as demonstrated by the fairly stable share price development. The mix of successful business development, a solid balance sheet structure and an attractive dividend policy formed the basis for the remarkable development of the share price in the year 2008. Despite turbulent capital markets, the Austrian Post share even managed to gain 0.5% in value on a year-on-year comparison. Accordingly, it was the only share listed in the ATX, the Austrian benchmark index, which succeeded in posting an overall increase in value in 2008.

Dividend increase Austrian Post continues to pursue its clearly-defined goal of enhancing enterprise value. At the same time, it offers attractive dividends to its shareholders on the basis of a stable cash flow. The Management Board will propose the distribution of a basic dividend of EUR 1.50 per share for the 2008 financial year to the Annual General Meeting scheduled for May 6, 2009, as well as a special dividend amounting to EUR 1.00 per share. On the basis of a share price of EUR 24.10 per share as at the end of December 2008, the dividend yield – based on the distribution of a basic and special dividend – amounts to 10.4%.

Austrian Post aims to achieve a dividend payout ratio of at least 75% of the net profit in the upcoming years assuming a continuation of the company’s positive business development and an unchanged solid financial performance.

Share price development and trading

Austrian Post, listed on the Vienna Stock Exchange since May 31, 2006 as Europe’s third postal company to be publicly traded on the stock market, was the most successful share on the Vienna Stock Exchange in 2008. On balance, the Austrian Post share increased by 0.5% during the course of 2008, whereas the Austrian Traded Index ATX registered more than a 60% decline in value during the same period. The DJ Euro Stoxx Transportation Index, which is of relevance to Austrian Post, declined by almost 50% in 2008. The Austrian Post share closed at EUR 24.10 at the end of December 2008. Market capitalisation totalled close to EUR 1.7bn. About 34m Austrian Post shares were traded on the Vienna Stock Exchange in 2008, and the total volume of trading reached a level of close to EUR 800m (counted once).

High yields
On the basis of an issue price of EUR 19.00 (May 30, 2006), the increase in value totalled 26.8% as of the end of 2008. Taking account of the dividend payments in this period amounting to EUR 3.40 per share, Austrian Post shareholders benefited from an impressive Total Shareholder Return of 44.7%.

No ratings are available for Austrian Post, due to the fact that it has not issued any corporate bonds.

Represented in numerous indices
Since September 18, 2006, the Austrian Post share has been listed on the Austrian Traded Index ATX, the benchmark index of the Vienna Stock Exchange. It consists of the 20 Austrian companies with the highest trading volume and the largest market capitalisation. At the end of December 2008, the weighting of the Post share in the ATX was 3.5%, close to three times the weighting in comparison to the level of 1.2% at the end of 2007. This can be attributed to the good performance of the Austrian Post share in comparison to other companies listed in the index. In addition to the ATX, the Post share is also represented on ATX Prime, on VÖNIX, the Austrian sustainability index, and on the DJ Euro Stoxx Transportation Index.

Share buy-back programme
On April 22, 2008, the Annual General Meeting of Austrian Post approved a resolution authorising the Management Board to implement a share buy-back programme by October 31, 2009 extending up to a maximum of 10% of the company’s share capital. On August 12, 2008, the Management Board exercised its authorisation and initiated a corresponding share buy-back programme, which began on August 19, 2008 and was completed on December 31, 2008. The volume of shares to be repurchased was limited to 3.5 million shares, or 5% of the share capital. All in all, a total of 2,447,362 of Austrian Post’s own no-par value shares corresponding to 3.5% of the share company’s share capital were repurchased via the Vienna Stock Exchange within the context of this share buy-back programme.

Shareholder structure
As a consequence of the Initial Public Offering in 2006, the shareholding held by the Austrian state holding company Österreichische Industrieholding AG (ÖIAG) in the share capital of Austrian Post decreased from a 100.0% stake to 51.0%, or a total of 35.7 million shares. Following the buy-back of shares, the stake owned increased to 52.8%. As of December 31, 2008, due to the implemented share buy-back programme, a total of 2,447,362 shares, corresponding to close to 3.5% of all outstanding shares, were owned by Austrian Post itself (“treasury shares”).

A shareholder ID carried out in January 2009 concluded that 88% of the shares are held by European investors (65% in Austria). Free float is represented by 12% private and institutional investors in Austria, 12% in Great Britain and 11% in Continental Europe. Private investors in Austria also include Austrian Post employees, who have a combined stake of about 2.6%. A total of 11% of the shares are currently held by North American investors (USA, Canada), whereas investors in the rest of the world account for the remaining 1%.

Investor Relations
Austrian Post attaches considerable importance to communications with investors and analysts. In addition to the many visits made by institutional investors and analysts in Vienna, the Management Board as well as the investor relations team continually hold meetings with the financial community in Austria and in international financial centres such as Frankfurt, London, Milan, Paris, New York or Boston. The intensive dialogue with the capital market was underlined by more than 30 roadshows and investor conferences with about 200 institutional investors.

The efforts of Austrian Post to promote transparency in its fi nancial communications gained recognition by the financial community, as demonstrated by Austrian Post winning the third place award in the Austrian Stock Exchange Price 2008 in the category “Journalists” bestowed by the business magazine “GEWINN”. Private investors also made extensive use of Austrian Post’s offer to establish a comprehensive two-way dialogue. For example, numerous private shareholders requested in-depth information about Austrian Post at the Annual General Meeting or at the “GEWINN” investment fair in Vienna.

Research Coverage In addition to considering the overall business environment and the specific characteristics of a company, the recommendations and share price expectations voiced by analysts also play an important role in the decision-making process of investors. At the same time, the analyst reports provide Austrian Post with valuable feedback from experts in the field concerning the strategy and development of the company. In the year 2008, two investment banks, the German Berenberg Bank and the newly founded Vienna branch office of CA Cheuvreux, initiated coverage of Austrian Post. As at the beginning of March 2009, Austrian Post is regularly monitored by a total of ten investment banks: Berenberg Bank, CA Cheuvreux, Deutsche Bank, Erste Bank, Goldman Sachs, MainFirst Bank, Morgan Stanley, Raiffeisen Centro bank, Sal. Oppenheim and UniCredit. An overview of their latest recommendations can be found on the Internet at http://www.post.at/ir >> Our share >> Analyst coverage.

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