Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

DOCUMENTS INCORPORATED BY REFERENCE
The Prospectus should be read and construed in conjunction with the following documents
which have been previously published or are published simultaneously with the Prospectus
and which have been approved by the FMA or have been or will be filed with it and shall be
deemed to be incorporated in, and form part of it:
(i) each set of Final Terms relating to any Notes issued by VBAG;
(ii) the audited consolidated financial statements of VBAG for the financial
years ended 31 December 2005 and 31 December 2006 together in each case
with the audit report thereon;
(iii) the sections entitled "Teil 1: Zusammenfassung des Prospektes" und "Teil 2:
Angaben zu den Wertpapieren" of the prospectus dated 28 October 2005;
and
(iv) the section entitled "5. Terms and Conditions of the Notes" of the prospectus
relating to VBAG contained in the comprehensive programme document
dated 14 June 2006.
Any statement contained in any document incorporated by reference herein shall be deemed
to be modified or superseded for the purpose of the Prospectus to the extent that such statement
is inconsistent with a statement contained in the Prospectus.
The Prospectus and the Final Terms are published in Austria by making available printed
copies of the Prospectus, the Final Terms and the documents incorporated by reference in
the Prospectus free of charge at the specified office of the Issuer.
SUPPLEMENT TO THE PROSPECTUS
The Issuer has given an undertaking to the Dealers, and is obliged by the provisions of the
Prospectus Directive and the Capital Markets Act, that if at any time during the duration of
the Programme there is a significant new factor, mistake or material inaccuracy relating to
information contained in the Prospectus which is capable of affecting the assessment of any
Notes the inclusion of which would reasonably be required by investors and their professional
advisers, and would reasonably be expected by them to be found in the Prospectus,
for the purpose of making an informed assessment of the assets and liabilities, financial
position, profits and losses and prospects of the Issuer, and the rights attaching to the Notes,
the Issuer shall prepare an amendment or supplement to the Prospectus or publish a replacement
Prospectus for use in connection with any subsequent offering of the Notes and
shall supply to each Dealer such number of copies of such supplement hereto as such Dealer
may reasonably request, and shall supply to the FMA and the Vienna Stock Exchange such
number of copies of such amendment, supplement or replacement hereto as the Capital
Markets Act and/or Austrian Stock Exchange Act require.
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