TAG with continuous growth in the first quarter

TAG Tegernsee Immobilien u. Beteiligungs AG / Quarter ResultsRelease of a Corporate News, transmitted by DGAP - a company of EquityStoryAG.The issuer / publisher is solely responsible for the content of this announcement.----------------------------------------------------------------------PRESS RELEASEInterim financial report for the first quarter of 2008TAG 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 67percent increase in revenues, TAG Tegernsee Immobilien- undBeteiligungs-Aktiengesellschaft continued on the previous year’s dynamicgrowth curve in the first quarter of 2008. TAG’s favourable businessperformance is primarily due to systematic efforts to extend its portfolioof residential and commercial real estate and to reinforce its servicebusiness.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 yearto EUR 21.5 million. This was primarily underpinned by a 60 percentincrease in rental income from EUR 7.0 million to EUR 11.1 million, towhich the rental income from the Siemens portfolio acquired in 2007 as wellas higher rentals from the rest of the portfolio contributed.The systematic implementation of the buy, build and hold strategy resultedin consolidated earnings before tax (EBT) of EUR 3.7 million, up from EUR2.6 million in 2007. After tax, earnings also rose by 64 percent from EUR1.3 million in the first quarter of 2007 to EUR 2.2 million at the end ofthe first quarter of 2008. The equity ratio widened from 34.6 percent on 31December 2007 to 35.2 percent.'Despite the protracted difficult conditions in the capital market, we wereable to maintain our favourable business performance and thus againreinforce the Group’s position as a portfolio holder and investor in urbangrowth markets in German metropolitan regions. In accordance with ourstrategic orientation, our acquisition activities will be focusing onlucrative commercial and residential real estate in the future. Inaddition, we will be stepping up activities to unlock further value fromour existing real estate portfolio and engaging in selected projectdevelopment activities,' said Andreas Ibel, CEO of TAG.This year, TAG plans to invest around EUR 50 million in portfolio andproject development, with a further EUR 100 million earmarked for newacquisitions. On the strength of the sustained favourable conditions in theGerman real estate market, particularly in the case of attractive urbanlocations, TAG’s management assumes that demand for commercial andresidential real estate on the market will continue rising. Accordingly, itprojects steady top and bottom-line growth in 2008 as well. Contact:TAG Tegernsee Immobilien- undBeteiligungs-AktiengesellschaftHead of investor and public relations Kirsten SchleicherTel. +49 (0) 40 380 32 300Fax +49 (0) 40 380 32 390pr@tag-ag.com14.05.2008  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       TAG Tegernsee Immobilien u. Beteiligungs AG              Steckelhörn 9              20457 Hamburg              DeutschlandPhone:        +49 (0)40 380 32 300Fax:          +49 (0)40 380 32 399E-mail:       info@tag-ag.comInternet:     www.tag-ag.comISIN:         DE0008303504WKN:          830350Indices:      SDAXListed:       Regulierter Markt in Frankfurt (Prime Standard), München;              Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News                                     DGAP News-Service ---------------------------------------------------------------------------