RHI equity improves EUR 21 million by conversion of bonds (ad hoc)

12. September 2005

RHI issued a subordinated convertible bond tranche B in 2002. The conversion of the bonds into 5,500 RHI AG shares each has been possible at the beginning of each quarter since January 1, 2003. 566 bonds of a total of 1,809 convertible bonds tranche B have been converted to 3,113,000 RHI shares so far, the total number of shares last amounted to 23,033,039.

Effective October 1, 2005, 528 of the convertible bonds tranche B were announced for conversion into 2,904,000 RHI shares.

The RHI Board passed the required resolution on the issue of new RHI shares today. Following approval of the supervisory board and registration in the commercial register, RHI will apply for the admission of the new shares for trading effective from October 3, 2005 with the Vienna Stock Exchange. The total number of RHI shares will then increase to 25,937,039, subject to the required approvals.

RHI Group equity will increase by EUR 21 million following the conversions. The interest result 2005 will improve by EUR 1.26 million because the right to interest for 2005 for the bonds announced for conversion expires.