EXCELLENT PERFORMANCE OF "AUSTRIA’S PREMIER PRIVATE BANK".

Carefully nurtured customer relationships, experienced portfolio managers, and a scientific investment approach are trademarks of our bank that have paid off. Kathrein Privatbank consistently re- ceives top industry ratings and has continued with this tradition in 2012.

At the Lipper Fund Awards 2012, Kathrein Corporate Bond, managed by Andreas Weidinger, was nominated "best fund over a 10 year period" in Austria and Germany in the category "Bond Euro Corporates". This was the seventh award for Kathrein Corporate Bond at the Lipper Awards. The previous year it received the award "best fund over a 10 year period" for Germany. 2010 it was nomi- nated "top fund over a 10 year period" among all corporate bond funds admitted in Germany that invest in the eurozone. The Kathrein Corporate Bond was awarded the same distinction in Austria.

Also at the Lipper Awards the award-winning Kathrein Euro Bond, managed by Harald Besser, was nominated "best fund over a 10 year period" in Austria and Germany in 2011 in the category "bond eurozone". In 2010, the Kathrein Euro Bond was a three-time winner at the Lipper Fund Awards: Top euro fixed income fund in Germany in the category "top fund over a 10 year period”, and gold medalist among the Austrian euro fixed income funds in the cate- gory "top fund over a 10 year period” and "top fund over a five-year period”.

At the 2010 Feri Fund Awards the Kathrein Euro Bond was nomi- nated in Germany and Austria among the "top five" of the best bond funds in the eurozone.

At the "Alternative Investment Award 2010" of "Geldmagazin" Kathrein stood out with its Kathrein Max Return and won first place in the category "Managed Funds - Multi Systems", which was a great accomplishment.

Our portfolio management team has also received impressive recognition. Last year, the Kathrein Fund Management Team, which has been working together successfully for more than a decade, received the distinguished group win in the category "small bonds" for the second time. This award recognizes fund companies for outstanding management of their funds.

Last but not least, we are proud that British finance magazine "Euromoney" elected Kathrein in 2008 the best Austrian private bank.