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

Press Release

DIC Asset AG raises profit forecast

Frankfurt, 03.07.2007

The Management Board of DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) has raised its forecast for the Company’s 2007 profits (earnings after taxes and depreciation) to Euro 36 to 38 million; the previous forecast was Euro 32 to 35 million. The increase is predominantly due to the positive business development during the first half of 2007: thanks to success in acquisitions, DIC Asset AG has already invested in excess of Euro 550 million this year. These investments will have an adequate impact on results for the second half of 2007. Business during the first six months was also characterised by continued high-quality growth in asset management and property management. The sale of the ‘Mustang’ portfolio to two Luxembourg-based investors – notarised in April, and subsequently closed – also contributed significantly to the gratifying results. Moreover, a residential portfolio and several individual properties were sold during the second quarter.

According to preliminary figures, second-quarter EBITDA (earnings before interest, income taxes, depreciation and amortisation) was approx. Euro 29 million (Q2 2006: Euro 5.1 million), bringing EBITDA for the first half of 2007 to approx. Euro 45 million (first half of 2006: Euro 9.4 million). Six-month earnings before taxes (EBT) are expected to amount to Euro 22 million (first half of 2006: Euro 4.9 million).

DIC Asset AG will publish a detailed report on the first half of 2007 on 13 August 2007.

About DIC Asset AG
Established in 2002, DIC Asset AG, with registered offices in Frankfurt/Main, is a real estate company with a dedicated investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. DIC Asset AG’s real estate portfolio currently includes around 1.1 million sqm of floor space, spread over 337 properties. The portfolio is divided into three segments: the Core portfolio includes the proprietary portfolio held on a long-term basis and offering stable, attractive rental yields; the Value-Added portfolio contains real estate with promising performance potential over the medium term; while the Opportunistic Co-Investments portfolio is comprised of real estate investments that have a more pronounced risk/return profile, which will be placed with third parties following a repositioning under an individual business plan. Real estate assets under management currently amount to approx. Euro 3 billion. DIC Asset AG has been included in the SDAX® segment of the Frankfurt Stock Exchange since June 2006.

For more information on DIC Asset AG, please visit www.dic-asset.de/engl/

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