14.06.2011 – 14:55

AIRE GmbH & Co. KGaA

EANS-Adhoc: AIRE GmbH & Co. KGaA: Agreements With AIG Group Companies to Reduce Advisory Services Costs and to Secure a Credit Facility

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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14.06.2011

Frankfurt am Main, June 14, 2011 - Today AIRE GmbH & Co. KGaA (the "Company")
entered into an agreement in principle with AIG Asset Management (U.S.) LLC
(the "Advisor") to reduce by 50% the management fee charged to the Company by
the Advisor.  Based on its 2010 financial results, the Company expects to
achieve an initial savings of approximately EUR 650,000 on the annual cost of
advisory services in 2011.

The Company also reached an agreement in principle with AIG Global Real Estate
Investment Corp. ("AIG Global Real Estate") to provide a three-year, USD 25.0
million credit facility to the Company and its operating subsidiaries upon
market terms.  The facility will strengthen the Company´s ability to continue
to fund existing commitments to current investments and funds in which it is an
investor.

The amended agreements with AIG Group Companies are following a change in the
shareholder structure of the company´s managing shareholder AIG International
Real Estate Geschäftsführungs- und Verwaltungs- GmbH ("AIRE GmbH"). A former 40
% shareholder of AIG International Real Estate Management GmbH sold its shares
to AIG Global Real Estate so that the ownership interests in AIRE GmbH are now
entirely held by AIG Global Real Estate.  AIG Global Real Estate continues to
advise the Company on its investments, almost all of which are co-investments
between the Company and AIG Global Real Estate and/or other clients of AIG
Global Real Estate.

The Company remains focused on realizing optimal value for the Company´s
investment portfolio in light of the challenges faced by the global financial
markets over the last three years. Given the recent illiquid state of global
real estate markets and limited availability of capital resources from
qualified lenders, it remains difficult to forecast the size and timing of cash
flows.

However, the Company continues to pursue its goal of returning cash to
shareholders from the timely realization of its existing investments, after
reserving for existing commitments, ongoing operating expenses and the
potential need for additional capital contributions to existing holdings.


Further inquiry note:
AIRE GmbH & Co. KGaA
Ulrich W. Reinholdt
Phone: +49 (0)69 9711 3200

end of announcement                               euro adhoc 
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issuer:      AIRE GmbH & Co. KGaA
          Speicherstrasse  55
          D-60327 Frankfurt am Main
phone:       +49 (0)69 9711 3225
FAX:         +49 (0)69 9711 3204
mail:         info@aig-ire.de
WWW:         http://www.aig-ire.de
sector:      Financial & Business Services
ISIN:        DE0006344211
indexes:     CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
          Hamburg, Stuttgart, Düsseldorf, München 
language: English