In autumn last year the majority of holders of UNIQA participation certificates had already exchanged these for UNIQA shares. UNIQA is now offering the holders of the remaining 31,225 participation certificates with a nominal value of ATS 100 each a swap for ordinary shares.

Exchange with no additional expense
For each participation certificate with a nominal value of ATS 100 a bearer share will be exchanged, with a nominal value of ATS 100, with no expenses payable. The exchange is at no cost to holders of participation certificates. UNIQA will bear all the commission and expenses involved in this offer.

Deadlline: 17th May 2000
The swap period was initially set from Thursday 4^th May 2000 up to and including Wednesday 17^th May 2000. During this period the participation certificates can be handed in at the Raiffeisen Zentralbank Österreich Aktiengesellschaft, 1030 Vienna, Am Stadtpark 9 as well as at deposit holding credit institutes, using the swap forms provided.

Further conditions of the swap will be published in the next few days in the Official Supplement of the Wiener Zeitung.

Analysis – Training – Control
According to the provisions of § 73d paragraph 6 of the Insurance Supervision Act, any participation certificates not exchanged in this swap offer for ordinary shares may be called in following a decision by the bodies of the Company and paid out in cash. It is intended to put forward such a motion for calling in at the Ordinary General Meeting on 20.6.2000.