22.09.2006 – 07:29

Immoeast Immobilien Anlagen AG

IMMOEAST: Revenues and Profits More Than Tripled

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IMMOEAST: Revenues and Profits More Than Tripled

•       EBIT increases 233 percent to 67.9 million Euro in the first quarter of
2006/07
•       Turnover rises 210 percent to 36.2 million Euro
•       Half of planned investment volume for 2006/07 already realised
•       Investments for an additional 2.65 billion Euro in final negotiation
(due diligence)
•       Expansion in additional countries and new market segments

IMMOEAST Immobilien Anlagen AG had an outstanding start in the
2006/07 fiscal year. In the first quarter (May 1 to July 31, 2006)
all relevant profit and growth figures substantially improved
compared to those of the previous year and the company continued to
expand its dominant market position in Central and Eastern Europe.

The EBIT more than tripled compared to the first quarter of 2005/06
(+233 percent to 67.9 million Euro), while at 17.9 million Euro gross
cash flow quintupled and earnings before tax climbed from 30.2
million Euro to 56.9 million Euro.

Turnover rose by 210 percent to 36.2 million euro. Equity increased
by 2.75 billion Euro in June and the positive share price development
by 189.5 percent from 1.5 billion Euro to 4.36 billion Euro. The fair
value of real estate assets rose 214 percent to 2.86 billion Euro.

Investments also reached record levels. In the reporting period
investments totalling a volume of 2.55 billion Euro were carried out.
Of these, 1.0 billion Euro is already activated in the balance sheet
and reflected in an increase of the fixed assets. Projects and
project phases which will only be reported in the balance sheet in
later periods account for 1.55 billion Euro. These essentially
include development projects for which extensive construction work
has to be done, forward purchases and increases in the stakes in
company holdings agreed to for a later period of time. With these
investments, half of the planned investment volume of 5.2 billion
Euro has already been realised.

The total outstanding volume of 2.65 billion Euro is in the final
stages of negotiation, that is, due diligence is currently being
conducted. Moreover, there are still investments of an additional 560
million Euro which have already been approved by the supervisory
board.

In the course of its investment campaign, IMMOEAST also expanded into
new fields of business and new country markets. During the first
quarter, initial investments were made in Ukraine and the first
direct investments carried out in Russia. Sectorally, the launch into
the residential business was especially remarkable. The acquisition
of 25 percent in the leading CEE real estate developer, the TriGránit
Holding is also an important step. As a result, IMMOEAST considerably
enhanced its involvement in the development business and now has
direct access to several of the most attractive investments in the
entire region.

You will find the first quarter 2006 report on our webpage:
http://www.immoeast.at/english/index.htm

Invitation to a Conference Call

In order to discuss the 1st Quarter Results and to address any
questions we invite you to participate in a conference call:

Date:   Friday, 22nd September 2006

Time:   4:00 - 5:00 pm CET

Speakers:       CEO, Mr. Dr. Karl Petrikovics
                CFO, Mr. Mag. Christian Thornton

The conference call will be transmitted through the following
channels:

Dial-In Conference Call:  + 49 69 710 491 413 (DE + Europa)
                             + 1 (1) 866 796 1569 (USA)
                             + 44 207 099 3524 (UK)

If you are not able to join the conference, there will be a playback
available:

Dial-In Playback:       + 44 207 108 6233 (UK)
                        + 1 (1) 866 416 2558 (USA)
                        + 49 69 2222 7229 (DE + Europe)

You will be asked for the code 532, confirm with the # -sign. The
Playback will be available for 48 business hours, starting one hour
after the conference has finished.

end of announcement                               euro adhoc 22.09.2006 07:30:00

* please note the retention period *

Further inquiry note:

MMag. Dr. Karl Petrikovics
Vorstandsvorsitzender der Immoeast
Immobilien Anlagen AG
Tel.: +43 1 536 16-400
mailto:investor@immoeast.at

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