Partrik Butler becomes Member of RZB’s Boardof Management

Today, the Supervisory Board ofRaiffeisenZentralbank Oesterreich AG (RZB)has appointed Patrick J.S.Butler, one of the most successful treasurers, as Member ofRZB''s Board of Management. Currently, Patrick Butler works asGlobal Treasurer in London, heading all Treasury and Capital Marketactivities ofArab Bank.He is also in charge of themanagement of all market and liquidity risks of the whole Arab BankGroup. The Englishman will take up his new position as a BoardMember responsible for Treasury and Investment Banking on 1 October2004 following Karl Stoss, who joins the insurance groupGenerali Holding Viennaas General Managerdesignate.

"Patrick Butler is the ideal Board Memberfor RZB. With him it has won over a full-blooded treasurer with anoutstanding track-record, international experience and excellentknowledge of the Austrian banking market, who has also profoundinvestment banking experiences", says RZB-Chairman WalterRothensteiner. Patrick Butler:"I am already looking forwardto the new job at RZB and I am confident to be able to prolong thesuccess story of RZB''s Treasury and InvestmentBanking".

Before his job at Arab Bank, Butler was GroupTreasurer atBank Austria-Creditanstaltand GlobalTreasurer atCreditanstalt, for which he also worked asGeneral Manager of the London Branch. Before that, he worked forChemical BankandCounty Bank(NatWestGroup)in London and in New York, where he also set up twobroker companies. The 47-year-old banker holds a Master of Arts(M.A.) degree of theOxford University,is married and hasgot two children.