Announcement

TAG Immobilien AG: TAG Immobilien Group has taken over the property management of approximately 8,800 flats in Salzgitter from TREUREAL with effect from 1 July and will manage the local portfolio itself henceforth

--------------------------------------------------------------------- 04.07.2011 Dissemination of a

TAG Immobilien AG: TAG Immobilien Group has taken over the property management of approximately 8,800 flats in Salzgitter from TREUREAL with effect from 1 July and will manage the local portfolio itself henceforth

TAG Immobilien AG / Key word(s): Strategic Company Decision

04.07.2011 / 12:00

Hamburg / Mannheim, 4 July 2011 - TAG Immobilien AG (TAG) has already taken
over the management of the Colonia Real Estate AG (Colonia) residential
portfolio of approximately 8,800 units in Salzgitter on 1 July. The
management was taken over earlier than planned by mutual agreement with
TREUREAL Property Management GmbH, who has managed the portfolio since July
2009.  TAG expects to save millions of euros from this strategically
motivated 'insourcing' of property management.

Colonia's largest single portfolio of 8,800 units in Salzgitter, with a
vacancy rate of almost 24%, is the biggest operational challenge that TAG
has had to face since taking over Colonia in February 2011. 'TREUREAL has
stabilised the portfolio in Salzgitter over the past two years under
difficult conditions,' said TAG CEO Rolf Elgeti. 'By bringing the
management of the portfolio in-house, we can increase operating
profitability, lower vacancy costs and raise our company's short-term
appreciation potential. TAG feels it is well placed for this task with its
expertise in property management and vacancy reduction.'

Wolfgang Wingendorf, managing partner of TREUREAL, says: 'We have been
managing a difficult portfolio in Salzgitter since July 2009. A challenging
task for any proficient property manager, and one we would have been happy
to have continued tackling. However, we of course fully understand the
strategic decision of the new owner TAG to manage the portfolio itself.'

For TAG, taking over of the management of the properties from TREUREAL
pools expertise, leads to shorter decision-making processes and realises
synergies. The 'insourcing' of the Salzgitter portfolio is another step in
the vigorous advancement of Colonia's integration into the TAG Immobilien
Group.

Press enquiries:

TAG Immobilien AG
Investor & Public Relations
Britta Lackenbauer / Dominique Mann
Tel. +49 40 380 32 300
Fax +49 40 380 32 390
pr@tag-ag.com


TREUREAL GmbH
Corporate Communications
Heinz Colligs
+49 621 3006-0


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Language:    English                                                    
Company:     TAG Immobilien AG                                          
             Steckelhörn 5                                              
             20457 Hamburg                                              
             Deutschland                                                
Phone:       040 380 32 300                                             
Fax:         040 380 32 390                                             
E-mail:      ir@tag-ag.com                                              
Internet:    www.tag-ag.com                                      
ISIN:        DE0008303504                                               
WKN:         830350                                                     
Listed:      Regulierter Markt in Frankfurt (Prime Standard), München;  
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,      
             Stuttgart                                                  
 
 
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