Share price development
The price of the Andritz share developed very favorably in 2005.  It increased by 62.8%, thus outperforming the ATX, which rose 49.6% during the same period. Since the IPO in June 2001, the Andritz share price has risen by more than 340%. The highest closing price of Andritz during 2005 was 92.85 Euros (29.12.2005); the lowest was 56.59 Euros (5.1.2005).

Trading volume
In 2005, the average daily trading volume of Andritz shares at the Vienna Stock Exchange was 83,993 shares (2004: 70,744 shares).  The highest trading volume was recorded on 31.5.2005 (645,250 shares); the lowest on 27.12.2005 (8,218 shares).

Shareholder structure of Andritz
Andritz has a very stable shareholder structure. Approximately 26% of the shares are owned by Certus Beteiligungs-GmbH, which is wholly owned by Custos Privatstiftung and whose Managing Director is Wolfgang Leitner, CEO of Andritz. Other Managing Board members, executives and employees of the Andritz Group hold approximately 2% of the shares. The remaining free float of approximately 72% is mainly owned by institutional investors from Great Britain, USA, Austria, Germany, and Switzerland. The share of retail investors is approximately 5% of the free float.

Share buy-back/sale program
On March 30, 2005, the Annual General Meeting of Shareholders authorized the Managing Board to buy back and sell up to 10% of Andritz’s total shares for a period of 18 months from the resolution. The maximum price for purchasing shares was fixed at 30% above the average, unweighted closing price of the share over the ten trading days preceding the buy-back. The minimum price was fixed at 10.0 Euros per share. The purpose of this share buy-back/sale program is to balance the supply and demand for Andritz shares on the Vienna Stock Exchange. In addition, the purchased shares are eligible for use in the stock option program, which covers approximately 60 Andritz Group executives, including the Members of the Managing Board of Andritz.

As of December 31, 2005, the number of own shares held by the Company amounted to 225,202.

Detailed information about the share buy-back/sale program, as well as the transactions carried out in relation to this program, can be found exclusively on the www.andritz.com website.

Investor Relations
In the financial community, Andritz is known for its proactive and transparent information policy vis-à-vis all relevant stakeholders of the Company. In 2005, Andritz – for the fourth time in a row – was awarded for its outstanding performance in the area of Investor Relations. Andritz was ranked third in the important category of “Investor Relations Online”.

Assessment criteria include actuality and scope of information provided on the companies’ websites, transparency of information policy, and technical features (e.g. charting tools, etc.) offered to users. Each year, the Austrian Association for Financial Analysis and Asset Management (ÖVFA) and the Austrian business magazine GEWINN award prices for special achievements in Investor Relations.

In 2005, Andritz staged several road shows in Austria and other important financial centers, such as London, Edinburgh, Milan, New York, Denver, Austin, San Francisco, Boston, Toronto, Montreal, Zürich, Paris and Frankfurt. In total over 140 individual one-on-one meetings with institutional shareholders and financial analysts were held. Andritz also presented at various investor conferences, such as JPMorgan’s Capital Goods Conference in London, England, Bank Austria’s Austrian Investor Conference in Kitzbühel, Austria and the Small and Mid Cap Conference of Deutsche Bank in London, England.

The third “Andritz Investor Days”, held in October 2005 in Edinburgh, Scotland, focused on the Environment and Process Business Area. A record number of analysts, journalists, and institutional investors attended this seminar.

Analyst coverage
In early January 2006, UBS initiated the coverage on Andritz.  In total, eight banks and investment companies publish reports on Andritz on a regular basis. They are: Bank Austria/Creditanstalt, Berenberg Bank, Deutsche Bank, Erste Bank, JPMorgan, Kaupthing Sofi, UBS, and Raiffeisen Centrobank.

Shareholder structure of Andritz
(as of 31.12.2005)

Financial Calendar 2006

02.03.2006	Results for 2005
29.03.2006	Annual General Meeting
03.04.2006	Ex-dividend
07.04.2006	Dividend payment
05.05.2006	First Quarter of 2006
04.08.2006	First Half of 2006
07.11.2006	First Three Quarters of 2006

financial-calendar.htm

Contact
Andritz Investor Relations
Michael Buchbauer (Head)
Petra Wolf (Assistent)
Stattegger Strasse 18, 8045 Graz, Austria
Phone: +43 316 6902 2722
Fax: +43 316 6902 465
welcome@andritz.com / www.andritz.com