• COVER PAGE

  •  INTRODUCTION

  •  EUROPEAN
     CHAMPION:
THE UNITED KINGDOM

  •  THE RUNNER-UP:
      FRANCE

  •  GERMANY GRABS
      THIRD PLACE

  •  BELGIUM, NO. 4

  •  POLAND TAKES
      FIFTH PLACE

  •  IRELAND, NO. 6

  •  HUNGARY TAKES
      SEVENTH PLACE

  •  SPAIN, NO. 8

  •  THE NETHERLANDS
      RECORD BREAKING
      YEAR

  •  AUSTRIA ROUNDS
      OUT THE TOP 10

Boosted by major business climate improvements during the past 18 months, Austria turned in particularly strong '98 performances in attracting call centers (No. 3 among European countries), distribution operations (No. 4) and headquarters facilities (tied for No. 6).

"Labor costs are cheaper, telecommunications rates are lower and the permitting process has speeded up," concludes the U.S. Investor Confidence Survey, recently published by the American Chamber of Commerce in Austria in partnership with the U.S. Embassy and Commercial Service. Indeed, a recent study by consulting firm KPMG pegs Austria as the most cost-effective business location in continental Europe.

When Viennese pharmaceuticals firm Immuno (the Austrian subsidiary of U.S. drug giant Baxter) chose Austria recently for a new plant, the approval process took only four weeks -- a responsiveness deemed "sensational" by Immuno management.

"Austria is a highly attractive business location for long-term investments, based on EU membership, its position as an effective springboard to Central and Eastern Europe, its highly skilled work force and excellent infrastructure," says Andrew Tempest, General Manager, Master Foods Austria. For more details on doing business in Austria, visit the Austrian Business Agency's Website at www.aba.gv.at. SS