voestalpine AG — Capital/Financing Update 2008

Nov 12, 2008

Media information November 12, 2008

voestalpine places EUR 333 million bond issue

• Several qualified investors, including the Land of Upper Austria, are subscribing a voestalpine AG bond issue
• Total issue volume of EUR 333 million successfully placed
• Duration of bond until end of 2010 and end of 2011 respectively
• 5.75% annual fixed interest rate

For purposes of further refinancing its takeover of Böhler-Uddeholm AG, voestalpine AG has issued a EUR 333 million fixed-interest bond, which has been offered exclusively to qualified investors pursuant to the Austrian Capital Markets Act. The Land of Upper Austria is one of the qualified investors, and it has subscribed for a major portion of the bond issue. The Land of Upper Austria and the remaining investors have thus demonstrated their confidence in the Land's largest company and regard their subscription for the bonds as a sound investment. The capital raised by this issue will be used to cover existing short-term loans. voestalpine AG's refinancing measures for its purchase of Böhler-Uddeholm AG are improved by this placement.

Voestalpine will redempt the bond in two tranches, with the first partial amount of EUR 222 million to be paid on December 17, 2010 and the second of EUR 111 million to be paid on December 17, 2011. Fixed interest on both tranches over the entire term of both will be paid at a rate of 5.75 per annum, which is in line with market rates on investments of this kind.

For further information please contact: voestalpine AG Corporate Communications Gerhard Kürner voestalpine Straße 1 4020 Linz T. + 43/50304/15-2090 gerhard.kuerner@voestalpine.com www.voestalpine.com