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

Press Release

Solvia Vermögensverwaltung joins DIC Asset AG as shareholder

Frankfurt, 20.05.2009

• Private investor now holds stake of 5.11 percent 
• Share block from buyback programme sold for around EUR 10 million
  

DIC Asset AG (WKN 509840/ ISIN DE0005098404) announces that solvia Vermögensverwaltung GmbH, from Braunschweig, has joined as a new strategic investor through the purchase of a nearly 5% share stake. DIC Asset AG, which operates on the German commercial real estate market, sold a share block acquired from the recently completed buyback programme to the private asset manager for around EUR 10 million. solvia purchased the approximately 1.5 million shares (4.7 percent stake) at a unit price of EUR 6.50. DIC Asset had acquired the share block during the period from 10 October 2008 to 10 February 2009 at an average price of around EUR 4.90. Previously, solvia held 0.4 percent of the shares in DIC Asset and, in recent years, had fostered business contacts with DIC during direct property transactions. Both parties also agreed on a lock up-clause under which solvia will agree not to sell the share block until the end of 2010. 

Ulrich Höller, CEO of DIC Asset AG: ''This transaction will mean an inflow of new capital for DIC Asset and at the same time the company also gets an investor with both a long-term focus and an excellent knowledge of the German commercial real estate market. The new shareholder structure sets impulses and reinforces DIC Asset AG’s stability. Solvia Vermögensverwaltung is following the business activities of DIC Asset for some time and is convinced of both the success and the sustainability of our business model.”

The new shareholder structure is as follows: DIC Group 39.4%, Morgan Stanley Real Estate Funds 10.4%, solvia Vermögensverwaltung 5.1%, free float 45.1%

About DIC Asset AG

Established in 2002, DIC Asset AG, with registered offices in Frankfurt am Main, is a real estate company with a dedicated investment focus on investing in commercial real estate in Germany, pursuing a return-oriented investment policy. DIC Asset AG's real estate portfolio includes around 1.3 million sqm of floor space, spread over 335 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 are placed with third parties following a repositioning under an individual business plan. Real estate assets under management amount to approximately EUR 3.3 billion.  DIC Asset AG has been listed on the SDAX index since June 2006. 

Further information is available at dic-asset.de.

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