WIENER STÄDTISCHE GROUP

Depending on the development of the capital markets in the fourth quarter of 2008, the Group will be able to achieve the forecast Group profit (before taxes, consolidated) in the amount of approximately EUR 540 million.

As regards the international capital markets, almost all forecasts of financial results have proved wrong so far. Therefore, the Vienna Insurance Group will fix its targets for 2009 to 2011 only after observing the further development. In any case, the managing board of the Vienna Insurance Group in 2009 will seek to at least repeat and - depending on the capital market development - outperform the expected very good result for 2008.

Based on its knowledge of its CEE markets, the Vienna Insurance Group assumes that the premium growth it will be able to achieve in this region in the next few years will again be clearly above that of Western Europe on account of insurance markets in the CEE region being not yet as saturated as those in Western Europe.

Despite the capital increase in May 2008 and the increased number of shares by 23 million, the managing board will suggest to the competent corporate bodies to maintain a dividend of EUR 1.10 per share.