Wiener Städtische Versicherung AG Vienna Insurance Group (Vienna Insurance Group) IFRS Figures for 2006 * :

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1 29 March 2007 Please note: this is a translation; only the German version of this release is legally binding. Wiener Städtische Versicherung AG Vienna Insurance Group (Vienna Insurance Group) IFRS Figures for 2006 * : Record profit (before tax) - increase by approx. 34 percent to EUR 321 million Group's premiums grow by nearly EUR 900 million to approx. EUR 5.9 billion CEE share in Group's premiums totaling approx. 38 percent, in the property/casualty insurance business approx. 52 percent CEE premiums to surpass EUR 2 billion mark for the first time Dividend increase by approx. 25 percent planned "In 2006, we took important steps towards the expansion of the Vienna Insurance Group in CEE and Austria and further developed the efficiency of our Group companies," says CEO Günter Geyer commenting on the Group's excellent results for the past business year. "We gained additional market shares in all lines of business in Austria and developed our shares in premiums particularly dynamically in CEE as compared to the international insurers. This was achieved partly by strategically appropriate acquisitions and partly by the growth generated by our own efforts. This expansion of business is also reflected in the vigorous increase in results. The management will therefore suggest to the competent corporate bodies an attractive dividend increase by approximately 25 percent." I. OVERVIEW OF KEY GROUP DATA IN THE YEAR 2006 * In 2006, the Vienna Insurance Group posted an increase of 17.4 percent, achieving a total of EUR 5.88 billion in consolidated premiums written (without other insurance participations) as compared to the previous year. (Including other insurance participations, non-consolidated premiums written amounted to EUR 6.12 billion in the business year This is 17.0 percent up from the previous year.) * These figures are subject to an audit to be performed by the auditors and approval by the supervisory board of the Vienna Insurance Group. Companies that have been acquired only recently are not included in the Group premiums of the Vienna Insurance Group.

2 The Group's profit (before tax, consolidated) rose by EUR million to EUR million in This is again a significant increase of 33.5 percent as compared to the Group's profit (before tax) in It is remarkable that this profit was achieved in spite of the increased expenses for claims incurred caused by snow pressure and flooding. It will be suggested to the competent corporate bodies to increase the dividend by 16 cent to 82 cent per share. This is approximately 25 percent up from last year's dividend. At 96.9 percent, the combined ratio of the Group after reinsurance (not considering investment income) was clearly below the 100 percent mark in 2006 again. Particularly in view of the growing number of losses caused throughout Europe by acts of God (in 2006, snow pressure and flooding), the continuation and optimization on a Group-wide basis of active claims management and selective risk underwriting is of decisive importance in this area. The financial result was improved by 18.3 percent compared to 2005, attaining EUR million. The expenses for claims incurred rose by 16.4 percent to EUR 4.21 billion. As of 31 December 2006, the total investments of the Group amounted to EUR billion. This constitutes an increase of 15.8 percent. II. DATA FOR THE GROUP FOR 2006, CLASSED BY SEGMENTS (consolidated) All of the Vienna Insurance Group's lines of business posted increases in premiums in the year 2006, with the highest increases being achieved in property/casualty insurance. In total, the Group's income in terms of premiums written amounted to EUR 5.88 billion in 2006, which translates to a 17.4 percent increase compared to the previous year. In CEE, premiums written in the year 2006 came to EUR 2.21 billion, thus increasing the value of 2005 by a record 41.4 percent. As a result, premium income in CEE surpassed the EUR 2 billion mark for the first time. In the non-cee countries (Austria, Germany, Liechtenstein), the Group companies generated a premium income of EUR 3.68 billion in the year 2006, which translates to a 6.6 percent growth. Of this, a premium income of EUR 3.43 billion (up 8.3 percent) was achieved in Austria. 1. BUSINESS SEGMENT RESULTS Property/casualty insurance In the area of property/casualty insurance, the Vienna Insurance Group's premiums written rose by a total of 19.7 percent to EUR 3.07 billion in In the CEE markets, property/casualty insurance even posted an increase of 37.4 percent, bringing the premium volume to EUR 1.59 billion. At 52 percent, the CEE Group companies' share in property/casualty insurance premiums thus has for the first time surpassed the 50 percent mark

3 In the non-cee countries, premium income in property/casualty insurance amounted to EUR 1.47 billion in 2006, rising by 5.0 percent as compared to the previous year. In Austria, premium growth was 5.0 percent at an income of EUR 1.41 billion in total. In the other markets (Germany and Liechtenstein), premiums written were increased by 6.1 percent, attaining a value of EUR million. Life insurance In life insurance, premiums written by the Group companies totaled EUR 2.52 billion, translating to a premium growth of 16.7 percent. Both CEE and Austria achieved double-digit premium growth rates in this line. The Group companies in CEE generated EUR million in premium income, translating to an outstanding premium expansion of 53.2 percent. This brings the share in premiums earned by the insurance companies from the life sector in CEE to almost 25 percent. In the non-cee countries, the premium income in this line amounted to EUR 1.90 billion, which translates to an 8.4 percent increase. The Group companies in Austria expanded their premium volume to EUR 1.73 billion, i.e., by 12.2 percent as compared to the previous year. In the other markets (Germany and Liechtenstein), the premium income amounted to EUR million. Health insurance In health insurance, the Vienna Insurance Group posted premiums written in the amount of EUR million, and hence a 3.4 percent increase. Health insurance products are only sold to a relevant extent by Wiener Städtische AG in Austria as one of the leading health insurers. 2. GEOGRAPHIC RESULTS Austria In the year 2006, the volume of premiums written by the companies in Austria amounted to EUR 3.43 billion. This corresponds to a very satisfactory increase in premiums of 8.3 percent as compared to the previous year. In Austria, profit (before tax) in the business year 2006 amounted to EUR million, expanding by a remarkable 44.7 percent as compared to Czech Republic In the year 2006, premium income in the Czech Republic for the first time surpassed the EUR 1 billion mark. The total premium volume was EUR 1.05 billion, translating to an increase of 17.6 percent. Profit (before tax) amounted to EUR million in the year Some 18 percent of the Group's profits and the Group's premium volume are earned by the companies in the Czech Republic already

4 Slovakia In Slovakia, it was possible to significantly expand the second position on the market. Currently, the Slovak companies boast a market share of 27.1 percent in total, and they have already made it to the number one position on the motor third-party liability insurance market. The total premium volume of the Slovak Group companies amounted to EUR million in Premium growth was at 17.1 percent. An increase in profit (before tax) by 10.7 percent to EUR million was achieved. Other CEE The other CEE companies generated a premium volume of EUR million in The rise from the previous year was a remarkable percent. Profit (before tax) amounted to EUR million, as compared to EUR 3.21 million in The term "other CEE countries" as used by the Vienna Insurance Group includes Bulgaria, Croatia, Poland, Romania, Serbia, and Hungary. ** With premiums amounting to EUR million in 2006 as compared to premiums amounting to EUR 74,07 million in 2005, the Polish Group companies made a contribution in 2006 that is remarkable within the "other CEE" sector. Profit (before tax) in Poland amounted to EUR 7.73 million, as compared to EUR 1.51 million in Other markets In Germany and Liechtenstein, the Vienna Insurance Group earned premiums written in the amount of EUR million. Profit (before tax) amounted to EUR million (up 56.7 percent). The Vienna Insurance Group is the leading Austrian insurance group in Central and Eastern Europe. Among the international competitors, the Vienna Insurance Group ranks an excellent second in the region. Outside its Austrian home market, the Vienna Insurance Group operates (through subsidiaries) in Belarus, Bulgaria, Croatia, the Czech Republic, Georgia, Germany, Hungary, Liechtenstein, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. Branch offices are maintained in Italy and Slovenia. ** Not included are the companies of the Vienna Insurance Group in Georgia, Ukraine, Russia, Belarus and the recently announced acquisitions in Turkey and Albania

5 Alongside WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group, the Vienna Insurance Group in Austria includes Donau Versicherung, Bank Austria Creditanstalt Versicherung and Union Versicherung. The Group also has ownership interests in Wüstenrot Versicherung and Sparkassen Versicherung. The Vienna Insurance Group is among the market leaders in Austria, the Czech Republic, Slovakia, Romania, Bulgaria and Georgia. Contact: Wiener Städtische Versicherung AG Vienna Insurance Group Investor Relations, 1010 Vienna, Schottenring 30 Thomas Schmee Tel.: Fax: Nina Higatzberger Tel.: Fax: Wiener Städtische s Investor Relations News are also available at > IR News

6 Consolidated Balance Sheet (IFRS) 31 December 2006 Assets (in EUR 000) 31/12/ /12/2005 +/- % A. Intangible assets 461, , B. Total investments 17,260,368 15,162, C. Unit- and index-linked investments 2,340,578 1,762, D. Reinsurers' share in technical provisions 963, , E. Receivables 983, , F. Deferred tax assets 23,543 11, G. Other assets 224, , H. Cash and cash equivalents 226, , Total Assets 22,483,454 19,441, Equity and Liabilities (in EUR 000) 30/09/ /12/2005 +/-% A. Shareholders' equity 2,283,208 2,059, B. Subordinated liabilities 413, , C. Technical provisions 14,628,421 13,086, D. Unit- and index-linked technical provisions 2,238,861 1,729, E. Non-technical provisions 835, , F. Liabilities 1,856,440 1,074, G. Deferred tax liabilities 121, , H. Other liabilities 106,163 82, Total equity and liabilities 22,483,454 19,441, Consolidated Income Statement (IFRS) 1 Jan Dec in EUR mn YE 2006 YE /- % Gross written premiums 5, , A. Net earned premiums 5, , B. Net investment income C. Other income D. Expenses for claims incurred -4, , E. Operating expenses (sales and administration costs, reinsurance prov.) -1, F. Other expenses Income from shares in affiliated and associated companies Profit before taxes Taxes Profit for the period Minority interests Net profit after minorities Combined Ratio 96.9% 94.3% - 6 -

7 Segment Reporting 1 Jan Dec Split by Business Segments: in EUR mn P&C Life Health Total YE 2006 YE 2005 YE 2006 YE 2005 YE 2006 YE 2005 YE 2006 YE 2005 Gross written premiums 3, , , , , ,007.8 A. Net earned premiums 2, , , , , ,240.9 B. Net investment income*** C. Other income D. Expenses for claims incurred -1, , , , , ,618.4 E. Operating expenses , F. Other expenses G. Profit before tax Split by Regions: in EUR mn Austria Czech Republic Slovakia YE 2006 YE 2005 YE 2006 YE 2005 YE 2006 YE 2005 Gross written premiums 3, , , A. Net earned premiums 3, , B. Net investment income *** C. Other income D. Expenses for claims incurred -2, , E. Operating expenses F. Other expenses G. Profit before tax in EUR mn Other CEE Other Total YE 2006 YE 2005 YE 2006 YE 2005 YE 2006 YE 2005 Gross written premiums , ,007.8 A. Net earned premiums , ,240.9 B. Net investment income *** C. Other income D. Expenses for claims incurred , ,618.4 E. Operating expenses , F. Other expenses G. Profit before tax *** including income from associated and affiliated companies - 7 -

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