euro adhoc: CA Immobilien Anlagen Aktiengesellschaft / Financial Figures/Balance Sheet / Interim report as at 30 September 2008: GOOD OPERATING DEVELOPMENT - CONSOLIDATED NET INCOME AFFECTED BY DIFFICULT CONDITIONS (E)

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28.11.2008

. 42 % increase in rental incomes, 27 % in EBITDA
. Positive contribution from property sales despite difficult climate
. Negative revaluation result in Eastern and South Eastern Europe in Q3
. 47 % equity ratio and long-term loan agreements ensure healthy financial
base; long-term refinancing of Vivico acquisition loan secured

The positive operating development of CA Immo continued in the third quarter
despite the increasingly difficult market conditions. As a result, rental
income increased by 42 % from EUR 90.9 m (1-9 2007) to EUR 129.5 m (1-9 2008).
The growth resulted mainly from the Vivico portfolio, which contributed to the
rental income since the beginning of the year. EBITDA increased by 27 % in
comparison with the first nine months of 2007 to stand at EUR 92 million. The
figure includes positive contributions from successful sales from the trading
portfolio (EUR 4.9 million) as well as the stock portfolio (EUR 11.2 million).
These factors were counterbalanced by a negative revaluation result (EUR -6.3
million as compared with EUR 47.7 million in the same period of 2007), deriving
in particular from market value adjustments in Eastern and South Eastern
Europe.

In addition to the ongoing interest cost, the financial result for the third
quarter was adversely affected by several, mostly non-cash factors (changes in
the valuation of interest rate hedges, the rise in the US Dollar, valuation
losses from securities) and totalled EUR -72.0 million for the first nine months
of 2008. The figure for income before taxes after nine months was EUR 10.0
million (1-9 2007: EUR 86.6 million), consolidated net income after minority
interests EUR -2.2 million (1-9 2007: EUR 44 million).
The net asset value (NAV) per share as at 30.9.2008 was EUR 22.38 (31.12.2007:
EUR 22.04). The operating cash flow increased by 11 % and stands at EUR 72.5 m.

On the reporting date, the equity ratio of CA Immo was 47 %. The net debt of
the Group as at 30.9.2008 was EUR 1.7 billion compared with property assets of
about EUR 4.1 billion. In addition, the short-term financial liabilities arising
from the acquisition financing for the purchase of Vivico were rolled over into
a long-term financing structure as planned. For this a financing package in the
amount of EUR 330 million was concluded. The scheduled repayment of the
remaining liabilities is imminent.

More restrictive loan allocations by the banks have resulted in a significant
downturn in the volume of transactions on the European property investment
market. The lower liquidity of the market means that property sales have become
more difficult. Despite this challenging climate, CA Immo was able to conclude
substantial sales in Germany in the third quarter, totalling over EUR 90 m,
which have contributed an important positive effect for the Group in terms of
both liquidity and income.

In view of the current major valuation discount at which the subsidiary CA Immo
International is traded on the stock market, a further increase of the stake
held (currently about 61 %) is being considered.

Given the difficult situation on the financial markets an improvement in the
results in Q4 2008 is not realistic. From today's perspective, the goal set at
mid-year of exceeding the result for the first six months in the second half of
the year, will not be achievable - particularly in view of the fact that income
from property sales originally planned is not expected to materialise and
further negative contributions from revaluations are conceivable.
As no easing of the market situation is currently in view, it is currently not
possible to make any concrete statement regarding a dividend payment for 2008.
A decision regarding the dividend proposal will therefore be made in spring
2009 after presentation of the annual financial statements.

Financial key figures
| | | |
|in EUR million |Q1-3 2008|Q1-3 2007 |
|Rental incomes |129.5 |90.9 |
|Net operating income |104.4 |81.9 |
|Result from the sale of properties|11.2 |5.7 |
|EBITDA |92.0 |72.2 |
|Revaluation gains/losses |-6.3 |47.7 |
|Operating result (EBIT) |82.0 |118.3 |
|Financial result |-72.0 |-31.6 |
|Net income before taxes (EBT) |10.0 |86.6 |
|Consolidated net income |-0.6 |70.1 |
|Consolidated net income, parent |-2.2 |44.0 |
|company | | |
|Result per share (in EUR) |-0.03 |0.59 |
|Operating cash flow |72.5 |65.6 |
|Rental income per share (in EUR) |1.5 |1.21 |
| | | |
| |30-9-08 |31-12-07 |
|Property assets (EUR million) |4,058.0 |2,535.4 |
|NAV per share (in EUR) |22.38 |22.04 |
|NNNAV per share (in EUR) |23.48 |22.51 |

Further inquiry note:
CA Immobilien Anlagen AG
Mag. Claudia Hainz
Tel.: 01/532 59 07-502
eMail: [email protected]

Mag. Florian Nowotny
Tel.: 01/532 59 07-518
eMail: [email protected]

end of announcement euro adhoc
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emitter: CA Immobilien Anlagen Aktiengesellschaft
Mechelgasse 1
A-1030 Wien
phone: 01/532 59 07
FAX: 01/532 59 07-550
mail: [email protected]
WWW: www.caimmoag.com
sector: Real Estate
ISIN: AT0000641352
indexes: Immobilien-ATX
stockmarkets: official market: Wiener Börse AG
language: English

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