For immediate release

Vienna, 31.03.2005 --- Casinos Austria International Holding GmbH, a wholly-owned subsidiary of the Austrian gaming company Casinos Austria AG is to issue a EUR 150 million public corporate bond at the beginning of April. The maturity of this bond with a fixed interest rate issued under the lead management of Raiffeisen Zentralbank Österreich AG (RZB) is 2012. The subscription period will be from 6 to 8 April, 2005. An application for listing on the Second Regulated Market (Geregelter Freiverkehr) at Vienna Stock Exchange (Wiener Börse) will be filed. The issue price and final interest rate will be fixed prior to the start of the subscription period.

Casinos Austria International - A Success Story "Made in Austria"
The Casinos Austria International Group (CAI) evaluates, plans, builds and manages casinos all over the world. Its international network of casino operations (i.e. outside Austria) currently comprises 64 casinos in 16 different countries. 13 of these casinos are to be found on board luxury cruise liners. In 2004, these casino operations posted revenues (wins, tips, entrance) of EUR 704 million (+15 %) and an EBITDA of EUR 23.62 million (+15 %). A total of 14.9 million guests (+14.6 %) visited a CAI casino in 2004.

With this unique portfolio, CAI has already firmly established itself as a leading global player in the international casino industry. "Service, quality, flexibility and responsibility are the cornerstones of our strong reputation and economic success, and we will continue to build on these values in the future," said Paul Herzfeld, Chief Executive Officer (CEO) of CAI. Josef Leutgeb, Chief Financial Officer (CFO), added: "The proceeds of this bond issue will be used predominantly to finance our recent expansion activities. These include the acquisition of Spielbanken Niedersachsen in Lower Saxony, Germany with a total of 10 casino licenses in January 2005 and the current development of the first and only casino in the European capital, Brussels." CAI also plans to use part of the proceeds for new projects to further strengthen the group's position in the casino sector.

RZB: A Strong Partner in the Corporate Bond Sector
Patrick Butler, Member of the Management Board at RZB for Investment Banking and Treasury, is confident of the success of the bond issue. "We are excited by the positive signal this bond issue sends for the Austrian capital market and are also delighted to be acting as lead manager for our long-term client, Casinos Austria International. This confirms RZBs leading role in the Austrian corporate bonds market." RZB acted as lead manager in five of the six public corporate bonds offered primarily to Austrian investors in 2004.

Summary of Terms and Conditions*
Issuer: Casinos Austria International Holding GmbH
Volume: EUR 150,000,000
Denomination: EUR 500
Estimated coupon: 4 1/8 %* p.a.
Issue price: To be fixed and published prior to the start of the subscription period.
Tenor: 7 years
Subscription period: 6 - 8 April 2005
Value date: 13 April 2005
Final maturity: 13 April 2012 at par
Paying agent: Raiffeisen Zentralbank Österreich AG
ISIN: AT0000342886

*The final interest rate will be fixed and published prior to the start of the subscription period.

Orders can be placed with:

• Raiffeisen Zentralbank Österreich AG
• Bank Austria Creditanstalt AG
• Bank für Arbeit und Wirtschaft Aktiengesellschaft
• Bankhaus Schelhammer und Schattera Aktiengesellschaft
• Raiffeisenlandesbank Niederösterreich-Wien AG
• and all Austrian financial institutions.

Note:
In connection with the offer of securities by Casinos Austria International Holding GmbH, only the information contained in the official prospectus shall be legally binding. The information contained in this press release is not binding and is intended for information purposes only.

Raiffeisen Zentralbank Österreich AG
Manuel Vaid
Public Relations
Am Stadtpark 9
1030 Wien
Tel.: +43-1-71707-1955
manuel.vaid@rzb.at
www.rzb.at

A prospectus according to the Austrian Capital Markets Act (Kapitalmarktgesetz) has been deposited at the notification office of Oesterreichische Kontrollbank AG and published in accordance with Art. 10 (2) of said Act in the Official Gazette Amtsblatt zur Wiener Zeitung on 23.3.2005. A copy of the prospectus is available during business hours in the offices of Casinos Austria International Holding GmbH, Dr.-Karl-Lueger-Ring 14, 1015 Vienna, Austria as well as the offices of Raiffeisen Zentralbank Österreich AG, Am Stadtpark 9, 1030 Vienna, Austria.

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For further information, please contact:

Hermann Pamminger
Head of Corporate Relations and Customer Care
Phone: +43 1 534 40 524
E-mail: hermann.pamminger@casinos.at