TAG Tegernsee Immobilien- und Beteiligungs-AG: TAG Group reporting an increase in revenues and earnings; full year guidance for 2008 adjusted

TAG Tegernsee Immobilien u. Beteiligungs AG / Half Year ResultsRelease of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------(Hamburg, 21 August 2008) TAG Tegernsee Immobilien- undBeteiligungs-Aktiengesellschaft (or TAG for short) achieved further growthin its operating business in the second quarter of 2008. With theextensions made to its real estate portfolio and increase in rental income,TAG achieved a substantial increase in revenues in the first half of 2008over the year-ago period in tandem with improved profitability. Revenuesclimbed by 49 percent to EUR 51.1 million (previous year: EUR 34.3million).At EUR 6.7 million, earnings before tax (EBT) fell short of the previousyear’s figure of EUR 14.3 million, which had been inflated by gains fromfair-value revaluations. The Management Board expects earnings before taxes(EBT) for 2008 as a whole to fall short of the previous year on account ofthe difficult conditions afflicting the capital and financial markets andhas now adjusted its forecast to a figure of EUR 15-20 million.Further details are contained in the press release which is being publishedat the same time.Contact:TAG Tegernsee Immobilien- undBeteiligungs-AktiengesellschaftHead of investor and public relations Kirsten SchleicherTel. +49 (0) 40 380 32 300Fax +49 (0) 40 380 32 388pr@tag-ag.com21.08.2008  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       TAG Tegernsee Immobilien u. Beteiligungs AG              Steckelhörn 9              20457 Hamburg              DeutschlandPhone:        +49 (0)40 380 32 300Fax:          +49 (0)40 380 32 399E-mail:       info@tag-ag.comInternet:     www.tag-ag.comISIN:         DE0008303504WKN:          830350Indices:      SDAXListed:       Regulierter Markt in Frankfurt (Prime Standard), München;              Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News                                     DGAP News-Service ---------------------------------------------------------------------------