euro adhoc: Immoeast Immobilien Anlagen AG / Mergers - Acquisitions - Takeovers / IMMOEAST acquires 25 Percent of Real Estate Developer TriGranit (E)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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10.08.2006

IMMOEAST Immobilien Anlagen AG has invested in a 25 percent stake in TriGranit
Holding Ltd., one of the leading real estate development companies in Central
and Eastern Europe, and has therefore taken a strategically important step in
the area of real estate development.

IMMOEAST has invested a total of approximately 400 million Euro in the
transaction, which involves the largest investment to date in IMMOEAST’s company
history. The TriGranit portfolio includes completed properties as well as
numerous projects in various stages of completion, from planning to the building
phase.

TriGranit is currently carrying out more than 30 development projects in eleven
countries for a total project volume of approximately five billion euro in the
areas of retail, office and housing. Lettable space totalling 3.3 million m²
will emerge from these projects. TriGranit’s main markets are in Hungary,
Poland, Czech Republic, Romania and Slovakia. There are additional projects in
Bulgaria, Slovenia, Croatia, Ukraine, Serbia and Montenegro. In Russia first
commitments are currently in preparation.

IMMOEAST Chairman Karl Petrikovics emphasises the strategic importance of the
new investment: "We have invested for a fair price in an excellent portfolio
which, in view of the quality of its projects, is unique in Central and Eastern
Europe. Above all, we have invested in a company which for nearly a decade has
proven it is able to successfully carry out extraordinary large-scale projects
in various countries of Central Europe and is able to exploit them at high
returns."

For IMMOEAST, as important as the stake in the existing portfolio is access to
TriGranit’s numerous large-scale projects. For all projects IMMOEAST has a right
of first opportunity, i.e. the opportunity to acquire completed properties
before they are offered on the market. As a result, there can be excellent
investment opportunities opened up to IMMOEAST in the next few years.

"With the properties IMMOEAST will be able to purchase in the future from
TriGranit, the average returns will be higher than with other purchases of
completed properties since as a result of our investment we have secured a 25
percent stake in the developer’s profits", explains Petrikovics, who anticipates
that in the next few years IMMOEAST will make substantial investments in
TriGranit projects.

Further inquiry note:
MMag. Dr. Karl Petrikovics
Chairman Immoeast
Immobilien Anlagen AG
phone: +43 1 532 87 60-0

end of announcement euro adhoc 10.08.2006 07:01:04
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emitter: Immoeast Immobilien Anlagen AG
Bankgasse 2
A-1010 Wien
phone: +43 1 532 87 60
FAX: +43 1 532 87 60-760
mail: [email protected]
WWW: www.immoeast.at
ISIN: AT0000642806
indexes: ATX Prime
stockmarkets: official market: Wiener Börse AG
sector: Real Estate
language: English

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