InCity management board commits to further share lock-up

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Cologne (euro adhoc) - 22 December 2008 - InCity Immobilien AG, a group of
companies specialised in the planning and realisation of high-quality properties
in inner city locations, has decided to support the InCity share price and is
committed to making a clear statement of trust, especially to its long-term
investors. "Our share has performed considerably better than the relevant
indexes in the past few months. But on the whole, InCity's market capitalisation
fails to reflect the intrinsic value of the company and its expected future
development," explains Management Board member André Peto.

Against this backdrop, the InCity management, which holds about two-thirds of
the shares, has committed to extending the lock-up agreement for the coming 36
months, which applies to the majority of the shares it holds. In addition to
that, the company has started selectively buying back shares in line with the
share buy-back programme approved by the AGM on 8 May 2008. According to that,
the company is entitled to buy back up to 250,000 shares until 7 November 2009.

André Peto: "The measures we have taken support the long-term increase in the
value of our company. This is based on the extremely dynamic and positive
business development the company has seen since inception, which also applies to
2008. Despite a downturn in the market our business model stood its ground. We
are also going to be showing this resilience against crisis in 2009."

About InCity Immobilien AG:
InCity Immobilien AG specialises in the planning and realisation of high-quality
property in inner city locations. The company develops and markets both
residential and retail properties using its inhouse expertise to minimise
project running time and to deliver high value added in the process. InCity
pools the experience accumulated through about 250 high-quality heritage
building redevelopment and new building projects for discerning self-users and
investors. The company creates exclusive, high-value space tailored to
customers' needs in top locations of German metropolitan areas. InCity
underlines its corporate responsibility towards society and the environment
through participation in the UN Global Compact, the international initiative of
the United Nations for the promotion of social and environmental principles.
Further information: www.incity.ag

Further inquiry note:
InCity Immobilien AG
André Peto
Phone: +49 (0) 221 95 27 57 55
[email protected]

Investor Relations
Dariusch Manssuri
Phone: +49 (0) 221 91 40 970
[email protected]

end of announcement euro adhoc
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emitter: InCity Immobilien AG
Gilbachstr. 29 a
D-50672 Köln
phone: +49(0)221 952757-55
FAX: +49(0)221 952757-57
mail: [email protected]
WWW: http://www.incity.ag
sector: Real Estate
ISIN: DE000A0HNF96
indexes:
stockmarkets: free trade/entry standard: Börse Frankfurt, free trade: Börse
Berlin
language: English

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