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[DonauPirat]

Invitation to the Ordinary General Meeting of S & T System Integration & Technology Distribution AG on 27 April 2001 at 16.00 at ANA Grandhotel, 1010 Wien, Kärntner Ring 9



Agenda:

1. Presentation of the approved annual financial statements for the fiscal
year 2000 including the director`s report and the report of the Supervisory
Board on the fiscal year 2000.

2. Resolution on the distribution of profits.

3. Resolution on the formal approval of the actions of the Management Board
and Supervisory Board for the fiscal year 2000.

4. Appointment of the financial auditors of the Company and the Company Group
for the fiscal year 2001.

5. Resolution on the remuneration for the members of the Supervisory Board
for the fiscal year 2000 including the granting of options for shares of
the Company.

6. Appointments to the Supervisory Board.

7. Resolution on the formal revocation of the authorization of the Management
Board, granted in the General Meeting held on 27 April 2000 and
supplementary to the Shareholder Resolution dated 30 April 1999, to
increase, within a maximum period of five years within registration of
this Shareholder Resolution with the commercial register, the nominal
share capital of the Company by Euro 1,635,138.77 (this means taking into
account the authorized capital) up to a total amount of Euro 4,905,416.13
by issuing in the aggregate up to 1,575,000 non-par value bearer shares in
one or more tranches at a minimum issue price of 100 %, insofar this
authorized capital has not been exercised at the time of the General
Meeting on 27 April 2001; and resolution on the necessary amendment to the
Articles of Association in Sec. 5 subpara 3.

and

Resolution on the authorization of the Management Board, to increase,
within a maximum period of five years within registration of this
Shareholder Resolution with the commercial register, the nominal share
capital of the Company by the maximum amount legally permissible at the
time of the General Meeting (ie eventually on the basis of a capital
increase out of authorized capital registered with the commercial register
before the General Meeting) by issuing non-par value bearer shares in one
or more tranches at a minimum issue price of 100 % against cash or
contribution in kind also under partial exclusion of statutory subscription
rights of shareholders, and to determine the issue price and the conditions
of issue in accordance with the Supervisory Board; authorization of the
Supervisory Board to resolve on amendments of the Articles of Association
resulting from the issue of the authorized nominal share capital; and
resolution on the necessary amendment to the Articles of Association in
Sec. 5 subpara 3.

8. Resolution on the authorization of the Management Board to buy back own
shares of the Company pursuant to Sec. 65 subpara 1.9 Austrian Act on
Joint Stock Corporations (Aktiengesetz).

Admitted to the General Meeting are shareholders who have,until 23 April 2000,
deposited their shares with an Austrian notary public or with the main office
of a domestic credit institution during ordinary business hours and who leave
the shares with such depository until the end of the General Meeting. The
depositories have to submit the depository receipts to the Company until
24 April 2001 the latest (via fax in advance to 0043-1-367 8088 99).

In case the shares are deposited with a foreign bank such bank shall, upon
request of the shareholder, as of 23. April 2001 until the end of the General
Meeting hold the shares at the disposal of BANK AUSTRIA AG and leave the shares
there until the end of the General Meeting. Foreign banks are requested to
submit a confirmation on the above, naming the depositor to BANK AUSTRIA AG
(via fax in advance to BANK AUSTRIA AG [phone]) until 24 April 2001
(for questions call BANK AUSTRIA AG under Tel. [phone]).

Vienna, April 2001

The Management Board


Procedure to be followed by foreign investors:

Shareholders wishing to attend the General Meeting must obtain a voting
certificate to be issued by Bank Austria. For this purpose, the foreign bank
must supply the following information to Bank Austria: name of the shareholder
and of the person to whom the voting certificate is to be made out, place of
residence of the shareholder and indication whether the shares are held in the
own name or in the name of a third party. The voting certificate may be sent
either to the foreign bank or directly to the shareholder or, in case of
insufficient time, to the company to be held at the shareholder`s disposal.


*********** S&T is IT in Emerging Europe*************


S&T helps Businesses in Emerging Europe to improve their results by using
Information Technology.

With total annual revenues expected to surpass EUR 150 million in 2001 and
750 employees as per March 2001, S&T operates subsidiaries in Poland, Russia,
Hungary, Czech Republic, Slovakia, Slovenia, Croatia, Romania, Bulgaria,
Ukraine, Macedonia, Moldova, Bosnia-Herzegovina and Yugoslavia.

[1904]

Wird sicher interessant, was Tantscher über die Zukunft verkündet. Immerhin, die Zahlen haben sich ja ganz prächtig entwickelt, wenn ich auch mit dem Gewinn nicht ganz zufrieden bin. Wird schon!