BUWOG shareholders' meeting approves 69-cent dividend / share

• For Austrian investors dividend yield (exempt from Capital Income Tax) of 4.48 per cent
• Authorisation to issue convertible bonds up to a total nominal amount of EUR 390 million
• Supervisory board: Oliver Schumy to succeed IMMOFINANZ CEO Eduard Zehetner beginning in 2015

BUWOG will distribute EUR 68.73 million in dividends for the 2013/14 financial year (1 May 2013 to 30 April 2014). EUR 10.07 million of the distributable balance sheet profit will remain in the company. With this resolution shareholders approved the proposal of the executive board and supervisory board at the company's shareholders' meeting today at a level of 100 per cent.

Each BUWOG share thus accounts for a dividend of 69 cents. With respect to the closing share price on today, Tuesday, this means a dividend yield of 4.48 per cent.
The dividend will be distributed in accordance with Austrian tax law as a capital repayment pursuant to § 4 para 12 of the Austrian Income Tax Act. The distribution is therefore tax-exempt for natural persons residing in Austria who hold BUWOG shares in their private assets. In the event of a sale, however, various regulations apply depending on whether the stakes in BUWOG were held prior to 01.01.2011 through an investment in IMMOFINANZ AG. The distribution will take place on 23.10.2014. From 15.10.2014 the BUWOG shares will be traded ex-dividend.

"BUWOG is therefore implementing its promised dividend policy with a distribution of 4% on EPRA NAV. Our objective also continues to be that the BUWOG share is distinguished in the long term by both an attractive dividend as well as an appreciation in value", CEO Daniel Riedl says.

The authorisation of the executive board proposed by the executive board and supervisory board to issue convertible bonds at a nominal value of EUR 390 million in the next five years was approved by a large majority of the shareholders' meeting. A conditional capital increase to grant stock options to members of the executive board in the scope of a long-term incentive programme in 2014 was likewise approved.

Further a change in the company's supervisory board has been resolved upon. Effective from 01.05.2015 Oliver Schumy will succeed Eduard Zehetner, who will leave the board. Oliver Schumy will also succeed Eduard Zehetner in 2015 as CEO of BUWOG's major shareholder IMMOFINANZ. All other proposed resolutions were also approved by the shareholders. 1,812 shareholders were represented with 54,312,661 votes at the shareholders' meeting. This corresponds to 54.52 per cent of voting rights. All resolutions were passed with majorities of between 96 per cent and 100 per cent.

About BUWOG Group

BUWOG Group is the leading German-Austrian full-service provider in the residential property business and now looks back over 60 years of experience. Today it is also one of the most important players on the German market. BUWOG Group has a high-quality portfolio totalling approximately 52,500 flats (about half each in Austria and Germany). As a developer, the company has so far been responsible for the construction of more than 35,000 flats in Austria alone. BUWOG shares are listed on the Frankfurt, Vienna and Warsaw stock exchanges.

For further information please contact:


Media enquiries Germany
Nikolaus von Raggamby
RUECKERCONSULT
T: +49 (0)30 2844 987 - 40
vonraggamby@rueckerconsult.de

Media enquiries Austria
Thomas Brey
LUSTIG+BREY
T +43 (0) 1 233 01 23 15
M +43 676 542 39 09
brey@lustigbrey.at

Investor Relations
Holger Lüth
BUWOG AG
T +43 (0) 1 87828 1203
investor@buwog.com