Erste Group Launches Combined Offer Of Participation Capital

Erste Group Bank AG (Erste Group) launches its Combined Offer of participation capital in an aggregate nominal amount of up to EUR 2.7 billion. The Combined Offer consists of a Rights Offer and a Public Offer. The issue price of

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Erste Group Bank AG (Erste Group) launches its Combined Offer of participation capital in an aggregate nominal amount of up to EUR 2.7 billion. The Combined Offer consists of a Rights Offer and a Public Offer.

The issue price of the Participation Capital Securities is EUR 1,000 each, which is equal to 100% of their nominal amount. The participation capital is non-voting, non-dilutive, non-cumulative and non-convertible, and ranks pari passu with ordinary shares.

Timing of the Offer:

The Subscription Period for both the Rights Offer and the Public Offer is expected to run from 15 April 2009 (inclusive) to 29 April 2009 (inclusive).

The Participation Capital Securities will be issued on or about 13 May 2009.

Participation Capital Securities:*

The Participation Capital Securities will be issued in denominations of EUR 1,000 each.*

The Participation Capital Securities are perpetual and do not have a final maturity date.*

The Participation Capital Securities participate in losses of the Issuer pro-rata with share capital up to their full nominal amount in the case of a nominal capital reduction.*

The Participation Capital Securities have the right to participate in liquidation proceeds pari passu with Parity Capital (including share capital).*

The Participation Capital Securities will not be listed on a stock exchange.

D.C.

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