Erste Bank JPMorgan Merrill Lynch International

CONSOLIDATED CASH FLOW STATEMENT FROM 1 JANUARY 2005 TO 31 DECEMBER 2005
in EUR ’000
2005 2004
Net income for the period less minority interest . . . . . . . . . . . . . . . . . . . . 196,977 120,952
Minority interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,760 600
Net income for the period before minority interest ............... 198,737 121,552
Net change in other underwriting provisions . . . . . . . . . . . . . . . . . . . . . . . 1,597,345 1,073,187
Changes in deposits on assumed and ceded reinsurance business, and
receivables and payables from reinsurance business . . . . . . . . . . . . . . 14,521 �8,564
Changes in other receivables and payables . . . . . . . . . . . . . . . . . . . . . . . 30,022 �76,257
Changes in securities in the trading portfolio . . . . . . . . . . . . . . . . . . . . . . �219,691 �102,070
Realised gains and losses of capital assets . . . . . . . . . . . . . . . . . . . . . . . �99,721 �44,921
Write up/down of all other capital assets . . . . . . . . . . . . . . . . . . . . . . . . . 105,529 123,563
Changes in pension, post-employment benefit, and other personnel
reserves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �41,813 �4,047
Changes in deferred tax assets/liabilities, not incl. tax provisions . . . . . . . �5,526 �41,596
Changes in other balance sheet items . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,554 42,676
Changes in goodwill and intangible assets . . . . . . . . . . . . . . . . . . . . . . . . 5,577 �2,235
Other income and expenses affecting cash flow, and adjustments to net
income for the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �66,797 �25,234
Cash flow from operating activities ........................... 1,537,737 1,056,054
Cash proceeds from the realisation of affiliated and associated
companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,256 950
Payments for the acquisition of affiliated and associated companies . . . . �262,222 �112,420
Cash proceeds from the realisation of other ownership interests . . . . . . . 56,002 29,625
Payments for the acquisition of other ownership interests. . . . . . . . . . . . . �31,746 �9,705
Cash proceeds from available-for-sale securities . . . . . . . . . . . . . . . . . . . 2,548,784 2,629,737
Payments for available-for-sale securities . . . . . . . . . . . . . . . . . . . . . . . . . �4,299,813 �3,773,057
Cash proceeds for securities held to maturity . . . . . . . . . . . . . . . . . . . . . . 25,273 40,085
Payments for securities held to maturity . . . . . . . . . . . . . . . . . . . . . . . . . . �52,366 �88,013
Cash proceeds from the realisation of land and buildings . . . . . . . . . . . . . 99,751 73,337
Payments for the acquisition of land and buildings . . . . . . . . . . . . . . . . . . �62,479 �20,790
Changes in unit- and index-linked life insurance items . . . . . . . . . . . . . . . �463,126 �234,291
Changes from other capital assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �155,149 166,356
Cash flow from investing activities ........................... �2,588,835 �1,298,186
Capital increase. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 904,383 0
Minority interest in capital increase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,481 11,944
Increase in subordinated liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 100,999
Dividend payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . �42,863 �23,286
Cash proceeds from and payments for other financing activities. . . . . . . . �17,821 �7,276
Cash flow from financing activities ........................... 1,147,180 82,381
Net change in cash and cash equivalents ...................... 96,082 �159,751
Cash and cash equivalents at beginning of period ............... 193,421 349,764
Cash and cash equivalents at end of period .................... 290,347 193,421
Foreign exchange differences in cash and cash equivalents ....... 844 3,408
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