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Gateway to Business

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Vienna (pts040/04.03.2003/15:17) - A new eastern European initiative called "Gateway to Business" was introduced Monday during a panel discussion on the financial centre of eastern Europe at the Hotel Sacher in Vienna.

The goal of the exclusive "Gateway to Business" platform is to bring leading experts on eastern Europe and economic leaders together to share their experiences.

Hosting the meeting were Karl Tantscher, CEO of the listed IT services firm S&T System Integration & Technology AG, and Herbert Stepic, deputy general manager of the Raiffeisen Zentralbank Österreich AG (RZB). The initiative has also secured partners such as the Danube European Institute (OIER), the Raiffeisen Centrobank AG (RCB) and The Wall Street Journal Europe.

"The Gateway to Business platform should develop into an exclusive forum for discussions and business contacts," said initiator Karl Tantscher of the project's aim. To accomplish this, he intends to win partners for the project, who are not only interested in general economic and political developments in central and eastern Europe, but would also like to establish new contacts and business relations in the CEE financial centre.

As a provider of IT services and total computer solutions, S&T has been represented in central and eastern Europe for ten years, and is now present in 16 central and eastern European countries.

Tantscher sees enormous potential in these markets: "It is impressive to see how these countries are catching up in the IT sector. Central and eastern European countries are not just concerned with modernising existing systems, but also creating new IT infrastructures," said Tantscher, describing the situation. He considers it important that these businesses become internationally competitive.

In February 2003, S&T was commissioned to implement a 2m euro modern network infrastructure for the Ukrainian railroad company Ukrsalisnytsia. But many western European companies also rely on IT solutions from S&T. "Many transnational groups not only invest in one country, but in the entire region. As we are represented in all central and eastern European countries, we consider ourselves an ideal partner for foreign direct investments," said Tantscher.

Austrian business holds its position in the CEE states

The RZB can offer a similarly dense network in the region, as it currently has branch offices in 14 countries in the region. At the Gateway to Business Forum, Herbert Stepic, deputy general manager and foreign head of the RZB, emphasised that Austrian business has been able to maintain its good position in central and eastern Europe in spite of increased competition and attention from other investors. This is underlined by Austria's leading role in foreign direct investments in Slovakia, Slovenia, Croatia, Hungary, Bosnia and Herzegovina, as well as Serbia and Montenegro.

Although Austrian business may stand to lose market shares in the future, over 50 per cent of Austria's total foreign investments currently flow into this region. Stepic considers this a sound foundation for Austria's continued strong presence in central and eastern Europe. The RZB intends to continue to secure new markets for Austrian business, as shown by its recent bank acquisitions in Belarus and Kosovo. RZB is also working together with the Raiffeisen bank group on ways to convince small and medium-sized enterprises (SMEs) of the region's potential.

CEE finance markets as a safe harbour for investors

Manfred Schmirl, sales director for stocks and derivatives at RZB, called the past year a positive one for investors in central and eastern Europe. Investors from the euro zone were able to profit from the increased value of the Czech koruna and the Hungarian forint. Schmirl is also optimistic about 2003, as he believes the driving market factors will not lose their dynamics in this year. The CEE states have solid economic growth and increased income, structural reforms are starting to take effect, and the risk of investing in certain countries is sinking. Schmirl is convinced the EU entry candidates could also provide a "safe harbour" in the case of a war in Iraq.

About S&T
S&T is a leading provider of IT solutions for clients in 16 countries in central and eastern Europe and Turkey. The company consults, develops and implements tailored IT solutions and offers around the clock services. S&T also offers special problem-solving and service know-how for business applications. S&T concentrates on the needs of large and medium-sized companies, among them mainly telecommunications firms, banks, energy suppliers, and public institutions and health care services providers. Further information on Gateway to Business and S&T can be found at http://www.snt.at .

For more information please contact:

Karl Tantscher
Chief Executive Officer
+ 43 (0) 1 - 367 80 88
karl.tantscher@snt.at

Markus Klampfer
Corporate Communications
+ 43 (0) 1 - 367 80 88 - 29

S&T System Integration & Technology Distribution AG
Gunoldstr. 16
1190 Vienna
Austria

About RZB
RZB is the leading institute of the Raiffeisen bank group, the second largest bank group in Austria. It considers central and eastern Europe its home market and operates a network of 14 banks with 675 branches, as well as two representative offices in 14 countries within the region. The RZB group was named "Best Bank in Central and Eastern Europe and Central Asia" by Global Finance for the second time in the spring of 2002.

For further information please contact:

Michael Palzer (+ 43 (0) 1 - 71 707-1504, michael.palzer@rzb.at) or
Andreas Ecker-Nakamura (+ 43 (0) 1 - 717 07 - 1753, andreas.ecker@rzb.at).
http://www.rzb.at, http://rzbgroup.com

Raiffeisen Centrobank AG
Manfred Schmirl, Tel: + 43 (0) 1 - 515 20 - 465
Raiffeisen Centrobank AG
Tegetthofstraße 1
1015 Vienna
Austria

Submitter: pts - single press release Contact: Matthias Sturm Phone: +43 1 402 48 51-173 E-Mail: sturm@temmel-seywald.at Website: