Highlights

14 March 2006

Shareholders’ agreement on the role of
BA-CA within UniCredit Group is presented to the relevant bodies.

3 May

The Supervisory Board initiates reorganisation of the divisional structure (adjustment to the organisational structure of UniCredit Group).

30 June

BA-CA sells its Croatian subsidiary HVB Splitska banka to Société Générale, a French bank, for about € 1 bn. The sale is effected to comply with merger control requirements.

4 August

UniCredit’s Board of Directors and BA-CA’s Supervisory Board adopt resolutions under which BA-CA will sell to UniCredit its 71.03 per cent interest in the share capital of Bank BPH (“BPH Transfer”) and UniCredit will transfer to BA-CA a “CEE Business Unit” comprising UniCredit’s shareholdings in banks in Central and Eastern Europe excluding Poland, in exchange for 55 million newly issued BA-CA shares.

11 August

BA-CA sets up Regional Centers for serving corporate customers in the Corporates Division.

1 September

BA-CA completes the merger of the two Romanian banking subsidiaries HVB Bank Romania and Banca Tiriac to create HVB Tiriac Bank.

12 September

UniCredit Group makes decisions on further steps towards creating the new Group structure: HVB’s shareholding in BA-CA will be transferred to UniCredit, the Russian bank International Moscow Bank (IMB) and HVB’s operations in the Baltic countries will be transferred to BA-CA.

1 October

Integration in UniCredit Group’s divisional structure is completed.

3 November

Closing of the sale of BA-CA’s Polish banking subsidiary Bank BPH to UniCredit.

8 November

Capital Invest becomes Pioneer Investments Austria.

4 December

Management Board adopts a resolution for a capital increase against the contribution in kind of UniCredit’s banking subsidiaries in Bulgaria, Croatia, the Czech Republic, Romania, Slovakia and Turkey.

20 December

BA-CA signs an agreement to acquire the institutional business (comprising
“Aton Broker” and “Aton International”) of “Aton Capital”, a Russian investment bank. The purchase price is US$ 424 million.

28 December

BA-CA takes over the 19.77 per cent interest in IMB held by VTB Bank (France) SA (previously Banque Commerciale pour l’Europe du Nord-EUROBANK) for a price of US$ 395 million.

9 January 2007

HVB sells its 77.53 per cent shareholding in BA-CA to UniCredit against payment of € 109.81 per share. This corresponds to a purchase price of about € 12.5 bn in cash. UniCredit now holds 94.98 per cent of
BA-CA’s share capital.

10 January

HVB transfers its banking units in Estonia, Latvia and Lithuania to BA-CA.

11 January

HVB transfers its majority shareholding in IMB to BA-CA.

12 January

Standard & Poor’s raises BA-CA’s long-term rating to A+, in line with UniCredit’s rating.

23 January

UniCredit decides to initiate squeeze-out proceedings at BA-CA and HVB.

17 March

Registration of the capital increase in the Austrian Register of Firms.