Upon consent of the supervisory board, the UNIQA management board was authorised by the Annual General Meeting held on 19^th May 2003 to purchase own shares in line with § 65, subsection 1, no. 8 and subsections 1a and 1b of the Austrian Stock Corporation Act (AktG), whereby the company may purchase a total of 11,977,780 of registered individual shares including those it previously bought and still holds. The authorisation applies to the period which starts on June 21^st,2003, and ends on December 20^th,2004, and sets the minimum purchase price at EUR 5.00 and the maximum purchase price at EUR 15.00 (renewal of existing limits). Each re-purchase programme (including its duration) must be published in accordance with the publication regulations (Federal Legal Gazette II 2002/112 in its current version) according to § 82 subsection 9 of the Austrian Stock Exchange Act (BörseG).  The authorisation to purchase own shares also covers the purchase of UNIQA shares by its subsidiary companies (§ 66 of the Austrian Stock Corporation Act (AktG). The shares acquired in accordance with § 65 subsection 1, no. 8 and subsections 1a and 1b of the Austrian Stock Corporation Act (AktG) may, with the consent of the supervisory board, be sold in other ways than on the stock exchange of by public offer, namely for the purpose of issuing these shares and implementing an employees’ share participation programme either including members of the management board and senior management or excluding members of the management board and senior management, or for the purpose of a stock option plan either including members of the management board and senior management or excluding members of the management board and senior management of the company or affiliated companies, or for the purpose of issuing such shares in return for the purchase of companies, businesses, parts of businesses or stakes in one or more companies within Austria or abroad.

The Management Board