Announcement

TAG with continuous growth in the first quarter

PRESS RELEASE Interim financial report for the first quarter of 2008 TAG with continuous growth in

TAG with continuous growth in the first quarter

TAG Tegernsee Immobilien u. Beteiligungs AG / Quarter Results

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PRESS RELEASE

Interim financial report for the first quarter of 2008

TAG with continuous growth in the first quarter

- 67 percent increase in revenues to EUR 21.5 million
- Earnings before tax (EBT) of EUR 3.7 million
- Further steady top and bottom-line growth expected

(Hamburg, May 14, 2008) Spurred by heightened profitability and a 67
percent increase in revenues, TAG Tegernsee Immobilien- und
Beteiligungs-Aktiengesellschaft continued on the previous year’s dynamic
growth curve in the first quarter of 2008. TAG’s favourable business
performance is primarily due to systematic efforts to extend its portfolio
of residential and commercial real estate and to reinforce its service
business.

Higher revenues were recorded in all segments in the first quarter of 2008,
rising by a total of 67 percent from EUR 12.8 million in the previous year
to EUR 21.5 million. This was primarily underpinned by a 60 percent
increase in rental income from EUR 7.0 million to EUR 11.1 million, to
which the rental income from the Siemens portfolio acquired in 2007 as well
as higher rentals from the rest of the portfolio contributed.

The systematic implementation of the buy, build and hold strategy resulted
in consolidated earnings before tax (EBT) of EUR 3.7 million, up from EUR
2.6 million in 2007. After tax, earnings also rose by 64 percent from EUR
1.3 million in the first quarter of 2007 to EUR 2.2 million at the end of
the first quarter of 2008. The equity ratio widened from 34.6 percent on 31
December 2007 to 35.2 percent.

'Despite the protracted difficult conditions in the capital market, we were
able to maintain our favourable business performance and thus again
reinforce the Group’s position as a portfolio holder and investor in urban
growth markets in German metropolitan regions. In accordance with our
strategic orientation, our acquisition activities will be focusing on
lucrative commercial and residential real estate in the future. In
addition, we will be stepping up activities to unlock further value from
our existing real estate portfolio and engaging in selected project
development activities,' said Andreas Ibel, CEO of TAG.

This year, TAG plans to invest around EUR 50 million in portfolio and
project development, with a further EUR 100 million earmarked for new
acquisitions. On the strength of the sustained favourable conditions in the
German real estate market, particularly in the case of attractive urban
locations, TAG’s management assumes that demand for commercial and
residential real estate on the market will continue rising. Accordingly, it
projects steady top and bottom-line growth in 2008 as well.

 




Contact:
TAG Tegernsee Immobilien- und
Beteiligungs-Aktiengesellschaft
Head of investor and public relations 
Kirsten Schleicher

Tel. +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
pr@tag-ag.com



14.05.2008  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)40 380 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
 
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