The Treasury of Raiffeisen Zentralbank Austria AG (RZB) is a leading market maker, quoting competitive prices in the main currencies and acting as a provider of liquidity to the market. Through our 17 local Treasury units at the RZB branches and network banks in Europe and Asia, we provide our customers with worldwide services and local market competence.

With a network of 17 Treasury dealing units spread across Europe and Asia, the Treasury Division can deliver its expertise in a wide range of currencies to its customers. Through our network of dealing rooms we are able to provide our customers with a 24 hours execution service for currency trading.

At RZB we offer customised client solutions – to local corporates, multinational companies, financial institutions and Central Banks - for their currency and interest rate driven exposures. We are actively trading the main currencies and can offer through our extensive network in Central Eastern Europe our expertise in these markets.

The Treasury Division consists of 5 operative departments - Foreign Exchange, Short Term Interest Rates, Long Term Interest Rates, Treasury Capital Markets and Treasury Corporate Sales, and 4 strategic departments - Relationship Management with the treasury units of the domestic Raiffeisen Banking Group and the RZB-Network Banks, Markets & Credit Support, Proprietary Trading.

Our main products include:

• Spot and Forward Foreign Exchange
• Foreign Exchange Options
• Banknotes, Coins and Precious Metals
• Money Market Products
• Future Rate Agreements
• Interest Rate Derivatives
• Interest Rate Futures
• Collateralized Trading
• Structured Products
• Treasury Consulting
• Asset and Liability Management Support

With the opening of the Global Trading Centre (GTC) on April 17^th 2001, RZB set a milestone in regard to modern technology for the Treasury Division. The GTC is connected to all branches, international finance centres and brokers world wide and features state-of-the-art equipment with flat-screens and a sophisticated digital telephone system.

The whole equipment, which is jointly used with Investment Banking/Fixed Income, with 50 servers for 135 traders, provides both optimal working conditions for the traders and security for the delicate components. 120 km of network cables and 25 km of fibre-optic cables link the central "brain" of the GTC with the workstations. On average, worldwide 5000 transactions with a turnover of EUR 7,5bn are executed per day in the Treasury. The new GTC also underpins RZB’s leading position in this field.

Another milestone has been the implementation of the Wall Street System as Front, Middle and Back Office System in August 2003. Using the FX, Currency Options, Money Markets, Exchange Traded Futures and Options as well as the IRD Module RZB is now able to trade and mark to market plain vanilla products as well as exotic options on a single plattform. Additional modules, including Value at Risk, Counterparty Credit, Confirmations, Settlement and Accounting, have also been installed. The Wall Street System enables RZB to provide its customers quick accurate treasury solutions.