The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

DIC Asset AG expands shareholder base and boosts share capital

Frankfurt, 10.10.2005

Frankfurt-based DIC Asset AG (WKN 509840) has extended its shareholder base in line with previous announcements and thus continued to increase its capital market presence as planned.

Several respected international equity funds have now taken shares in the company. The free float has thereby increased to around 5.8%. In addition, the investment company Forum Partners, London, has acquired a holding of approximately 5% in DIC Asset AG. The remaining portion of share capital, around 89.6%, is held by Deutsche Immobilien Chancen AG & Co. KGaA and DIC Opportunity Fund GmbH.
In a further move to ensure the continuation of its dynamic growth, the company is boosting its share capital base significantly. Through a capital increase which utilizes Authorized Share Capital to the full, DIC Asset AG is offering its shareholders 3,390,000 ordinary shares – 50% of the current capital amount – at a subscription price of €12.00 per share. Share capital will then amount to €10.17 million (hitherto €6.78 million). Deutsche Immobilien Chancen AG & Co. KGaA, DIC Opportunity Fund GmbH and Forum Partners have already announced that they are drawing their subscription rights in full. This capital increase for cash will generate new capital funds of around €40 million for the company.

The DIC Asset AG share is quoted on the over-the-counter market on the Munich and Stuttgart stock exchanges. Share price on Munich stock exchange was €12.20 per share on Friday, Oct 7th. HypoVereinsbank estimated the fair value of the share at €15.90 in its July 2005 Research Report.

Following the completion of the above measures DIC Asset AG’s consolidated balance sheet will show equity capital of significantly more than €120 million.

Ulrich Höller, CEO of DIC Asset AG commented: “This step creates room for maneuver for DIC Asset AG, allowing us to utilize the opportunities currently available in the German commercial real estate market. At the same time, the expanded capital structure gives us room to extend our shareholder base further.”

Notes on DIC
The Frankfurt-based company DIC (Deutsche Immobilien Chancen) Asset AG, is the stock-exchange listed subsidiary of the DIC real estate group, Frankfurt, founded in 1998. It is active in the acquisition, sale, management and development of commercial real estate in the German market. The DIC group uses DIC Asset AG primarily as the vehicle for its real estate asset portfolio, which has undergone major expansion over the last few years. The volume of real estate assets under its management currently amounts to around €400 million. Among the most important transactions completed in the recent past were the purchases of eBay’s German headquarters and the real estate portfolio of Frankfurter Sparkasse; both deals attracted considerable attention within the real estate sector.

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