TAG continuing growth story - substantial increase in earnings: EBT EUR 5,17 million

TAG Tegernsee Immobilien u. Beteiligungs AG / Quarter ResultsCorporate news transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------PRESS RELEASEReport on the first nine months of 2006TAG continuing growth story- Substantial increase in earnings- Net asset value (NAV) published for the first time(Hamburg, November 29, 2006). In the first nine months of 2006, TAGTegernsee Immobilien- und Beteiligungs- Aktiengesellschaft achievedearnings before tax (EBT) of EUR 5.17 million, thus reversing the loss ofEUR 29.54 million sustained in the same period one year earlier.Consolidated post-tax profit rose to EUR 1.7 million.Says Andreas Ibel, a member of TAG’s management board: 'TAG’s strategicrepositioning is showing clear signs of success. After two capitalincreases in the first eight months of the year, TAG started implementingits investment strategy in the third quarter. The buy, build and holdstrategy being pursued focuses on the acquisition of a diversifiedportfolio offering attractive rental yields. With the purchase of a realestate portfolio in South Germany and the acquisition of a further 1,200residential units, the first innovative investments of EUR 153 million havebeen completed.TAG has equity capital of EUR 290 million and an equity ratio of 54.6percent of total assets.Explains Dr. Lutz R. Ristow, CEO of TAG: 'Thanks to the greater number ofshares and the substantially enlarged equity basis, TAG remains a likelycandidate for inclusion in the S-DAX. In addition, we are confident ofbeing able to achieve further earnings improvements in the fourth quarterand are on track to meeting our raised EBT forecast of EUR 6 million. Asplanned, we will have reached an investment volume of EUR 200 – 250 millionby the end of the year.Although the current draft of the G-Reit law initially excludes residentialproperty, the positive effects will outweigh the disadvantages for theGerman real estate market. With our strategic orientation of additionallyacquiring commercial real estate, we are well positioned for futuredevelopments.'For the first time, TAG has also disclosed in its interim report its netasset value (NAV), which impressively confirms the Group’s enterprisevalue.Press inquiresTAG Tegernsee Immobilien- undBeteiligungs-AktiengesellschaftPublic RelationsKirsten SchleicherTelephone +49 40 380 32 140Telefax      +49 40 380 32 388e-mail       k.schleicher@tag-ag.comDGAP 29.11.2006 ---------------------------------------------------------------------- Language:     EnglishIssuer:       TAG Tegernsee Immobilien u. Beteiligungs AG              Steckelhörn 9              20457 Hamburg DeutschlandPhone:        +49 (0)40 30 60 59-40Fax:          +49 (0)40 30 60 59-49E-mail:       info@tag-ag.comWWW:          www.tag-ag.comISIN:         DE0008303504WKN:          830350Indices:      Listed:       Amtlicher Markt in Frankfurt (Prime Standard), München;              Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Stuttgart End of News                                     DGAP News-Service ---------------------------------------------------------------------------