13.12.2005 – 17:01

AIG International Real Estate GmbH&Co. KGaA

euro adhoc: AIG International Real Estate GmbH & Co. KGaA
other
AIG International Real Estate Announces Increased Valuation of Real Estate Investment in Slovakia

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

13.12.2005

Frankfurt am Main, December 13, 2005 - AIG International Real Estate
GmbH & Co. KGaA ("AIRE") announced today that an independent
appraiser has valued the real estate holdings in its Slovak
Auto-priemyselny park s.r.o. Lozorno subsidiary ("APP") at EUR 73.95
million, an increase of EUR 15.45 million over the previous fair
market value of EUR 58.5 million which was based on a valuation
conducted at the end of 2004.

It is expected that the AIRE group NAV for November 30, taking into
consideration the new APP valuation, will be approximately EUR 35.50
per share, an approximate increase of EUR 2.84 per share, or 8% over
the last reported NAV as of October 31, 2005.  The actual NAV for
November 30 will be determined following preparation of the AIRE
group’s monthly financial statements and will be included in the NAV
report, which is expected to be published by December 19.  The
reported NAV included in this report may differ somewhat from the
estimate published today, but it is not expected that the difference
will be material.

In addition, since the property in question is classified for
accounting purposes as real estate held for investment, the increase
in valuation of EUR 15.45 million will be booked as income for the
fourth quarter of 2005 in the AIRE group consolidated income
statement. The consolidated income for the AIRE group through the
first three quarters of 2005 was EUR 12.4 million and net income
after taxes for the same period was EUR 4.2 million.  Certain
expenses (such as deferred tax liabilities and accrued performance
fees) will also be booked in connection with the increased valuation.

end of announcement                               euro adhoc 13.12.2005 16:25:19

Further inquiry note:

AIG International Real Estate Gmbh & Co. KGaA
Andrew Fletcher
Tel: +49 (0)69 97113225
E-Mail: andrew.fletcher@aig-ire.de

Branche: Financial & Business Services
ISIN: DE0006344211
WKN: 634421
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade