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Team Leader CEE and Syndication Kommunalkredit Austria AG

Andreas Kettenhuber

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Kommunalkredit Austria AG:Investment bank for the public sector

Financing of public investments and budgets

Bank advisory services (Maastricht Project, PPP-Project, Contracting, Benchmarking)

Financing and support of regional projects with domestic banks

Cross border finance in CEE

Co-arranger or Participant at international syndication or club-deals

Our speciality: long-term fixed rates, up to 25 years in EUR

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We pay great attention to the environmental

aspects of a project with the main emphasis on

sustainable development.

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Switzerland: Strong growing market since 1999, when the main Swiss issuing institution (Schweizer Emmissionszentrale) for municipalities got into

difficulties with the repayment of outstanding loans (all AAA-rated)due to liquidity problems of some municipalities (Leukerbad, Zermatt)

Our markets

Core markets

Austria: Our home market; long-term relationship, with a good market penetration:

more than 60 % of all municipalities are our clients

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Target countries

Poland, Czech Republic, Slovakia, Hungary, Slovenia and Croatia

Kommunalkredit and Dexia have a co-operation for the joint development

and extension of business activities in Central and Eastern Europe,

with Kommunalkredit as the platform in the Group.

The intention is to be present, at least with one bank in each of the target countries

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Our local presence for the time being:

Slovak Republic - PKBCzech Republic - Kommunalkredit

Finance & Leasing in Prague

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Specifics:

great number of transactions (syndicated loans: min. amount 500 m

EUR club deals: min. amount 50 m EUR)

maturity 5 to 10 years

bullet or with repayments

one arranger and one facility manager

5 to 20 participants

Other International Activities

Syndication

Kommunalkredit is partner for Arrangers (international banks like Citibank, ABN Amro, Deutsche Bank and so on) of sydicated loans.

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Examples:

Hellenic Republic, Region of Catalonia and Andalusia, Titulización de

Activos, Republic of Iceland, Republic of Cyprus

Our Target:

Europe and other borrowers with investment grade rating

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PFI - Projects: e.g. hospitals like Metier Healthcare Limited, a police

training centre in Great Britain

US - Lease: Lease and Lease back transactions with US investors

e.g. Wiener Linien

Other International Activities

Project Finance

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States

State funds

Regions (provinces, districts, cantons)

Towns and municipalities

Subsidiaries of public entities (in the field of water and waste water

management, public transport, district heating)

Utilities

Our Clients:

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Long - term loans in EUR, US$, CHF and in most local

currencies (Polish Zloty, Czech Crowns, Slovak Crowns and so on)

Structured finance and Derivatives

Project finance (public-private partnerships - PPP and private

finance initiatives - PFI)

Financial leasing

Benchmarking for local authorities

Analyses of local-authority budgets

Tailor-made advice on the outsourcing of individual budget items

(with a view to compliance with the Maastricht criteria)

Our Products and Services

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Performance till August 2001

Important factors for our success

Purchase of social housing loans of the Austrian federal province Carinthia

US-Lease: Wiener Linien

Purchase of loans from the Republic of Austria (Insurance Sector)

sound development in Switzerland and Internationally

- New Acquisitons EUR 750 million

- Claims against customers EUR 2.800 million

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Our Strategy 2001

Core Markets

Introduction of new products (Leasing and Structured Finance)

Sound development in Switzerland and Internationally

Target Countries

Opening of our office in Prague

Market researches in Poland and Hungary

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Huemer

CEE

OÖ,STW

NÖ,B S,T,V,K

CZ, SK SLO,H,HR

PL

AL ViglAL Stv . Schebesta

TLKettenhuber

SEKGeiger, Zintl

Leasing Benchmarking

Contracting

FriesColcuc Thury Kettenhuber; Zajac Karner Luzar

Synd.

Key Account Manager Key Account ManagerCountry Manager

Österreich Schweiz

TLViehauser

Struct. Fin.

Kulovits

Holzinger,Fiedler

Bansemer,Weinzierl

Account Assistant

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Establishment of new Financing Schemes

Evaluation of the Economic Feasibility of Projects

Participation in Consulting Teams

Making Projects Bankable

Participation and Co-Financing of Projects

Exchange of Know-how (learning from each other)

Possible Co-operation Environmental Funds and KA

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110

150

145

170

Phone +43-1-31 6 31-

Fax 103

e-mail kommunal@kommunalkredit.at

Contact List

TeamleaderCore Markets & Project Finance

Wolfgang Viehauser

Kommunalkredit Austria AG

Türkenstraße 9, 1092 Vienna

Head of the Financing Department

Stefan Vigl

Deputy Head of the Financing Department

Willibald Schebesta

Team LeasdCentral Europe & Syndication

Andreas Kettenhuber

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Contact List

Junior Manager, PragueIng. Matus Pull

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00420222211830

00420222211811

Phone +43-1-31 6 31-

Fax 103

e-mail kommunal@kommunalkredit.at

Country Manager PolandMag. Aleksandra Luzar

Rednitel, PragueDI Pavol Seiler (formerly Zajac)

Kommunalkredit Austria AG

Türkenstraße 9, 1092 Vienna

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www.kommunalkredit.at