OREANDA-NEWS. June 15, 2007. European Business Press voted for CEO of Raiffeisen International  The European Business Press (EBP) presented the "European Manager of the Year 2007 Award" to Herbert Stepic, CEO of Raiffeisen International at its General Assembly in Sopot, Poland, yesterday evening. The price was handed over by the Governor of the Polish National Bank, Slawomir Skrzypek, and the President of EBP, Ralph Buchi.

The award is based on a vote amongst the editors-in-chief of the EBP members, among them publications such as the "Financial Times", "The Wall Street Journal Europe", "Handelsblatt", "Les Echos" or "Milano Finanza". EBP was founded in Como, Italy, in 1962. Today the organisation counts 58 leading European business newspapers and magazines in about 30 countries.

In 1991, EBP began presenting the award to top European managers, entrepreneurs or companies. Among the recipients were personalities such as Ingvar Kamprad of Ikea, Jorma Ollila of Nokia and Bernd Pischetsrieder, former CEO of BMW and Volkswagen.

Herbert Stepic received this highest award granted by European business journalists for his outstanding work developing his company into one of the major players in the central and eastern European banking world. As CEO of Raiffeisen International and Deputy Chairman of the Managing Board of majority shareholder Raiffeisen Zentralbank Osterreich AG (RZB), both based in Vienna, Austria, he was and still is considered a pioneer in Central and Eastern Europe. The first Raiffeisen joint venture started operations 20 years ago in Hungary, almost three years before the democratisation process started in Central and Eastern Europe with the fall of the Iron Curtain. Following his vision and using his contacts, he was responsible for forming a unique grid of subsidiaries for RZB and Raiffeisen International far beyond the Austrian borders. Today, he steers banks and leasing companies in 16 markets of the region with around 2,900 offices and more than 53,000 employees. Since its IPO in April 2005 the price of Raiffeisen International shares has more than tripled.

"The European Business Press Award crowns the recognitions Raiffeisen and I were glad to receive in the recent past", Herbert Stepic referred to a series of regional "Best Bank Awards" and personal decorations, among them "Man of the year“ by the Austrian business magazine "trend“ at the end of 2005. "I receive this award also on behalf of my board colleagues and our excellent staff ", he added.

Christian Rainer, publisher of EBP-member "trend", calls Raiffeisen "the unlikely example of how a small local company in a tiny country on the former borders of democratic Europe can become a giant in its field. And Herbert Stepic is seen as the main driver of this process".

Herbert Stepic started his professional career after graduating from Vienna's University for Economics and Business Administration in 1972. One year later he joined RZB, where he started to develop the international business of the bank. He became a Board Member in 1987 and Deputy Chairman of RZB's Managing Board in 1995. In 2001, he additionally became CEO of Raiffeisen International. Stepic is 60 years old, married and father of two sons.

A printable picture can be accessed at:

http://www.rzbfiles.at/stepic-manager of the year 2007.jpg