10.08.2006 – 07:35

Immoeast Immobilien Anlagen AG

euro adhoc: Immoeast Immobilien Anlagen AG
Mergers - Acquisitions - Takeovers / IMMOEAST acquires 25 Percent of Real Estate Developer TriGranit

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  The issuer is responsible for the content of this announcement.

10.08.2006

IMMOEAST Immobilien Anlagen AG has invested in a 25 percent stake in
TriGranit Holding Ltd., one of the leading real estate development
companies in Central and Eastern Europe, and has therefore taken a
strategically important step in the area of real estate development.

IMMOEAST has invested a total of approximately 400 million Euro in
the transaction, which involves the largest investment to date in
IMMOEAST’s company history. The TriGranit portfolio includes
completed properties as well as numerous projects in various stages
of completion, from planning to the building phase.

TriGranit is currently carrying out more than 30 development projects
in eleven countries for a total project volume of approximately five
billion euro in the areas of retail, office and housing. Lettable
space totalling 3.3 million m² will emerge from these projects.
TriGranit’s main markets are in Hungary, Poland, Czech Republic,
Romania and Slovakia. There are additional projects in Bulgaria,
Slovenia, Croatia, Ukraine, Serbia and Montenegro. In Russia first
commitments are currently in preparation.

IMMOEAST Chairman Karl Petrikovics emphasises the strategic
importance of the new investment: "We have invested for a fair price
in an excellent portfolio which, in view of the quality of its
projects, is unique in Central and Eastern Europe. Above all, we have
invested in a company which for nearly a decade has proven it is able
to successfully carry out extraordinary large-scale projects in
various countries of Central Europe and is able to exploit them at
high returns."

For IMMOEAST, as important as the stake in the existing portfolio is
access to TriGranit’s numerous large-scale projects. For all projects
IMMOEAST has a right of first opportunity, i.e. the opportunity to
acquire completed properties before they are offered on the market.
As a result, there can be excellent investment opportunities opened
up to IMMOEAST in the next few years.

"With the properties IMMOEAST will be able to purchase in the future
from TriGranit, the average returns will be higher than with other
purchases of completed properties since as a result of our investment
we have secured a 25 percent stake in the developer’s profits",
explains Petrikovics, who anticipates that in the next few years
IMMOEAST will make substantial investments in TriGranit projects.

end of announcement                               euro adhoc 10.08.2006 07:01:04

Further inquiry note:

MMag. Dr. Karl Petrikovics
Chairman Immoeast
Immobilien Anlagen AG
phone: +43 1 532 87 60-0

Branche: Real Estate
ISIN: AT0000642806
WKN: A0BLUL
Index: ATX Prime
Börsen: Wiener Börse AG / official market