Announcement

HSH Real Estate and TAG set up joint asset management company

Initial real estate volume of € 1.2 billion under management ·Focus on commercial real estate in Germany

HSH Real Estate and TAG set up joint asset management company

TAG Tegernsee Immobilien u. Beteiligungs AG / Joint Venture

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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·Initial real estate volume of € 1.2 billion under management
·Focus on commercial real estate in Germany
·Partners to hold a 50-percent stake each

Hamburg, December 18, 2007. January 1, 2008 will see the launch of a joint
asset management company of HSH Real Estate and TAG Tegernsee Immobilien-
und Beteiligungs-Aktiengesellschaft (TAG). An agreement establishing the
joint venture, with each partner holding a 50-percent stake, was signed
yesterday. The headquarters will be in Hamburg.The company will manage a
portfolio of commercial real estate in Germany with an initial volume of €
1.2 billion. The portfolio consists of some of TAG and HSH Real Estate’s
own commercial properties and real estate managed on behalf of third
parties. 'By pooling our know-how and expanding our market coverage, we are
continuing on our growth course in asset management,' explained Dr. Marc
Weinstock, member of HSH Real Estate’s Management Board. 'Through this
joint venture we are taking advantage of the opportunities offered by the
changing market conditions. 'Andreas Ibel, CEO of TAG, also views the
strategic benefits of the alliance as compelling: 'Together with HSH Real
Estate, we have many years of expertise in the asset management business.
We are already able to tap into extensive local networks with own
operations in Hamburg, Berlin, Munich and Leipzig,' continued Ibel. The
Managing Directors of the new company, which is starting with 32 employees,
are Dietmar Busse, Stephan Jung and Kirsten Schleicher. Mr. Busse and Ms.
Schleicher are currently Managing Directors of TAG Asset Management GmbH.
Mr. Jung is Managing Director of Asset Management at HSH Real Estate and
will continue in this post. HSH Real Estate’s Asset Management unit
currently has € 2 billion in assets under management, of which 90 percent
commercial real estate in Germany’s metropolitan regions. The non-German
portfolio focuses on the U.S. and Central Europe. In Hungary, properties
are managed through an own asset management company in Budapest, while
further international locations are managed by third-party property
managers on site. TAG develops and manages a total of 5,000 own and 7,500
third-party residential units and commercial real estate with a volume of
more than € 1 billion. The residential real estate activities are pooled in
Bau-Verein zu Hamburg AG, while the commercial real estate portfolio is
integrated within TAG Gewerbeimmobilien-AG.

About HSH Real Estate AG a wholly owned subsidiary of HSH Nordbank AG, HSH
Real Estate AG pools all the bank group’s real estate business with the
exception of its conventional finance business. In terms of total assets,
HSH Real Estate is among the top 10 real estate stock corporations in
Germany. The operations of the group of companies comprise the following
real estate segments: equity investments, project development, services and
the fund business.

About TAG Tegernsee Immobilien- und Beteiligungs AG TAG Tegernsee
Immobilien- und Beteiligungs-Aktiengesellschaft (TAG) is a listed real
estate company with a corporate history going back 125 years. Its main
areas of business are residential and commercial real estate in Germany’s
metropolitan regions and property-related services. Its activities focus
on a buy, build & hold strategy, which is geared to the long-term
appreciation of portfolios. The Company has been listed in the SDAX since
2006.
18.12.2007  Financial News transmitted by DGAP
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Language:     English
Issuer:       TAG Tegernsee Immobilien u. Beteiligungs AG
              Steckelhörn 9
              20457 Hamburg
              Deutschland
Phone:        +49 (0)40 30 60 59-40
Fax:          +49 (0)40 30 60 59-49
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
 
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