The Austrian Financial Market Authority (FMA) hereby announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has confirmed the FMA’s penal order against Erste Asset Management GmbH (predominantly as the universal legal successor of ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H.) for breaches against the investment terms (2 items in the ruling), a breach against the approved fund rules and a delayed submission of an auditor’s report in relation to a statement of accounts subject to conditions concerning the issue of attribution. The appeal against the ruling is upheld to the extent that the fine was reduced to EUR 32,000.00. The orderly final right of appeal was declared not to be permissible. The penal order is final.