Erste Bank JPMorgan Merrill Lynch International

existing preferred shares may be issued in this process. The issue prices of ordinary and preferred
shares may differ.
By resolution of the General Shareholders’ Meeting of 24.05.2005, the following dividend distributions
took place:
Distribution
in EUR
Per Share
1.1.-31.12.2005
Total
1.1.-31.12.2005
Ordinary shares. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.45 34,608,150
Preference shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.55 5,197,500
Total ................................................... — 39,805,650
Proposed Allocation of Profits
Wiener Städtische Allgemeine Versicherung Aktiengesellschaft concluded fiscal year 2005, under
Austrian accounting rules, with a balance sheet profit of EUR 135,997,562.33. The following allocation
of profits has been proposed in connection with the General Shareholders’ Meeting: The 105 million
shares are to receive a dividend of EUR 0.66 per share. A total of EUR 69,300,000 is to be
distributed. The balance-sheet profit for the 2005 fiscal year remaining after distribution of dividends,
in the amount of EUR 66,697,562.33, is to be carried forward to the next accounting period.
14. SUBORDINATED LIABILITIES
Subordinated liabilities involve supplementary capital loans of the following companies in the
Group:
Issuing Company Date Issued
Outstanding
Volume
(in EUR ’000)
Maturity
in Years
Interest Rate
in %
Wiener Städtische Allgemeine Versicherung AG . . 12.1.2005 180,000 17 First 12 years:
4.625% p.a.;
then variable
Wiener Städtische Allgemeine Versicherung AG . . 12.1.2005 120,000 unlimited 1)
Donau Allgemeine
Versicherungsaktiengesellschaft . . . . . . . . . . .
Donau Allgemeine
Versicherungsaktiengesellschaft . . . . . . . . . . .
10.5.2004 50,000 unlimited 2)
15.4.+21.5.2004 11,500 unlimited 3)
First year
4.25% p.a.;
then variable
Fair
Value
180,360
116,700
4.95% p.a. 50,000
4.95% p.a. 11,500
Donau Allgemeine
Versicherungsaktiengesellschaft . . . . . . . . . . .
1.7.1999 3,500 unlimited 4)
4.95% p.a. 3,500
Union Versicherungsaktiengesellschaft . . . . . . . . 2.1.2004 11,250 10 4.95% p.a. 11,250
Union Versicherungsaktiengesellschaft . . . . . . . . 21.12.2001 2,700 unlimited 5)
First 10 years:
6% p.a.;
then variable
2,700
Union Versicherungsaktiengesellschaft . . . . . . . . 18.12.1998 2,616 unlimited 5)
variable 2,616
Bank Austria Creditanstalt Versicherung AG . . . . . 2.1.2004 25,000 10 4.95% p.a. 25,000
Bank Austria Creditanstalt Versicherung AG . . . . . 21.12.2001 3,000 unlimited 5)
First 10 years:
6% p.a.;
then variable
3,000
Bank Austria Creditanstalt Versicherung AG . . . . . 23.4.1998 3,634 unlimited 5)
variable 3,634
Total ............................... 413,200 410,260
1) The right to ordinary and extraordinary cancellation by the holder is excluded. Regular cancellation
by the issuer is first allowed effective 12 January 2017.
2) This may be cancelled, in whole or in part, both by the holders as well as by Donau, not sooner
than 10 May 2014, upon giving five years’ notice and as of 10 May of each subsequent year.
3) This may be cancelled, in whole or in part, both by the holders as well as by Donau, not sooner
than 31 December 2009, upon giving five years’ notice and as of 31 December of each
subsequent year.
F-200