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TAG Immobilien AG's financial result and EBT to be rated EUR 4.5 million more positive than reported at the half-year

Hamburg (24. August 2011) - In regard to its half-year report published on 18 August 2011, TAG Immobilien

TAG Immobilien AG's financial result and EBT to be rated EUR 4.5 million more positive than reported at the half-year

TAG Immobilien AG / Key word(s): Half Year Results

24.08.2011 / 19:10

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Hamburg (24. August 2011) - In regard to its half-year report published on
18 August 2011, TAG Immobilien AG ('TAG' in the following) notes that the
interest expenses of EUR 20.0 million recorded in Q2 2011 contains a
partial amount of EUR 4.5 million, which represents a non-recurring expense
resulting from the takeover of Colonia Real Estate AG. This one-time
expense incurred mainly through valuation differences during the
consolidation of the Colonia Real Estate AG and is in no way connected to
the company's operating interest expenses. In the presentation of the
operating result, this amount should be disregarded and therefore leads, in
the analysis, to a much better operating result than the coverage of the
company's half-year result would indicate at first glance. In other words,
the financial result (EBT) and hence the operating result for Q2 2011
should be seen as EUR 4.5 million more positive than it appears.


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Language:    English                                                    
Company:     TAG Immobilien AG                                          
             Steckelhörn 5                                              
             20457 Hamburg                                              
             Germany                                                    
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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