The earliest possible call option by voestalpine AG for the current hybrid bond 2007 (ISIN AT0000A069T7), which has a volume of EUR 1 billion, is on October 31, 2014. At this point in time, it has not yet been decided if voestalpine will exercise this call option. Market participants tend to expect that issuers will take advantage of the first possible call date to redeem hybrid bonds. Therefore, bondholders who do not take advantage of this exchange invitation will not be able to make very reliable plans with regard to their investment in the hybrid bond 2007 for the period after October 31, 2014. “We do not want to increase the total volume of hybrid capital at this time, but, at the same time, we want to reduce any potential refinancing risk for the period after October 2014 as early as possible,” stated Chairman of the Management Board and CEO of voestalpine AG, Dr. Wolfgang Eder. “Additionally, we are offering existing bondholders the opportunity to renew their commitment as a special consideration for their longstanding confidence in us.” If the call option is not exercised by voestalpine, the hybrid bond 2007 will continue to run for an indefinite period of time at the agreed upon terms (variable coupon linked to the three-month Euribor rate +5.05%). In this case, voestalpine can exercise a call option at each coupon date (every three months). Investors can sell their hybrid bond 2007 holdings on the secondary market at any time at the then current price.