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 Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

(Hamburg, 21 August 2008) TAG Tegernsee Immobilien- und
Beteiligungs-Aktiengesellschaft (or TAG for short) achieved further growth
in its operating business in the second quarter of 2008. With the
extensions made to its real estate portfolio and increase in rental income,
TAG achieved a substantial increase in revenues in the first half of 2008
over the year-ago period in tandem with improved profitability. Revenues
climbed by 49 percent to EUR 51.1 million (previous year: EUR 34.3

At EUR 6.7 million, earnings before tax (EBT) fell short of the previous
year’s figure of EUR 14.3 million, which had been inflated by gains from
fair-value revaluations. The Management Board expects earnings before taxes
(EBT) for 2008 as a whole to fall short of the previous year on account of
the difficult conditions afflicting the capital and financial markets and
has now adjusted its forecast to a figure of EUR 15-20 million.

Further details are contained in the press release which is being published
at the same time.

TAG Tegernsee Immobilien- und
Head of investor and public relations 
Kirsten Schleicher

Tel. +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 388

21.08.2008  Financial News transmitted by DGAP
Language:     English
Issuer:       TAG Tegernsee Immobilien u. Beteiligungs AG
              Steckelhörn 9
              20457 Hamburg
Phone:        +49 (0)40 380 32 300
Fax:          +49 (0)40 380 32 399
E-mail:       info@tag-ag.com
Internet:     www.tag-ag.com
ISIN:         DE0008303504
WKN:          830350
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News                                     DGAP News-Service