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

Press Release

Forum Partners and Deutsche Immobilien Chancen increase their investment in DIC Asset AG

Frankfurt, 14.07.2008

• Deutsche Immobilien Chancen in future with a stake of 39,4 per cent

Deutsche Immobilien Chancen Group and Forum Partners, both shareholders in DIC Asset AG, renew their strategic relationship and further align their interests in DIC Asset AG. Already a partner of DIC Asset AG since 2005, Forum Partners had a stake in the company in the form of a 4.9 percent direct holding and a convertible loan with right of conversion into 2.1 million DIC Asset AG shares. Because the convertible loan comes up for renewal in October 2008, Forum Partners and Deutsche Immobilien Chancen Group have decided on the following transaction: Forum Partners will extend the existing convertible loan by a further period of three years, while at the same time subscribing to an additional convertible loan, also with a three-year term, which carries the option of conversion into 1.5 million shares. In return, Forum Partners will transfer its 4.9 percent holding to Deutsche Immobilien Chancen Group, raising the latter's stake in DIC Asset AG from the current figure of 34.5 percent to 39.4 percent.

Forum Partners thus remains an important strategic financial partner of the company, while extending its involvement long-term. At the same time, the reference shareholder Deutsche Immobilien Chancen-Group increases its investment in DIC Asset AG.

Ulrich Höller, Chief Executive Officer of DIC Asset AG, says: "The transaction announced today will have a long-term stabilising effect on the ownership structure of our company and is an endorsement of the business policy pursued by DIC Asset AG."

Russell Platt, Chief Executive Officer of Forum Partners, noted "We are pleased to be able to strengthen our strategic relationship with DIC through an extension and enlargement of our existing mandatory convertible investment".

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 commercial real estate in Germany, pursuing a return-oriented investment policy. DIC Asset AG's real estate portfolio currently includes around 1.3 million sqm of floor space, spread over approximately 350 properties. The portfolio is divided into three segments: the Core portfolio includes the proprietary portfolio held on a long-term basis and offering stable and 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 repositioning under individual business plans. Real estate assets under management currently amount to approximately EUR 3.6 billion. DIC Asset AG has been included in the SDAX segment of the Frankfurt Stock Exchange since June 2006.

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