DIC Asset AG acquires property portfolio from Landesbank Berlin

DIC Asset AG / Miscellaneous

Announcement transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

The real estate investor DIC Asset AG, listed on the Frankfurt stock
exchange, has now purchased from Landesbank Berlin (LBB) their property
portfolio consisting of 51 properties with a floor space of around 112,000
sqm. The total investment is around EUR 147 million. Morgan Stanley Real
Estate Funds (MSREF) as finance partner will give a share in the
transaction of 50 per cent.

The taken over portfolio consists primarily of offices, retail outlets and
service outlets. The properties are in good locations within the city of
Berlin with several properties located, for example, in Wilmersdorf,
Schöneberg and Charlottenburg. Among them 82 per cent are let – more than
50 per cent to tenants from the Landesbank Berlin association, who use them
as retail outlets and as offices. The average lease is around five years,
the initial yield is in excess of seven per cent. Through its asset and
property management subsidiary, DIC Asset is planning to open a branch in
Berlin, so as to manage this portfolio as well as the other activities of
DIC within the Berlin region.

Ulrich Höller, Chairman of the Management Board of DIC Asset AG: 'Following
on from the recently completed transaction with the City of Hamburg, DIC
Asset AG is making another noteworthy step towards regional diversification
of its portfolio in Germany with this purchase.'

With this transaction, DIC Asset AG is increasing its portfolio to 320
properties with a floor space in excess of 920,000 sqm. The real estate
under management will then amount to around EUR 2.2 billion. This expansion
provides DIC Asset AG with the initial basis for a far more active
portfolio management.

About DIC Asset AG
Established in 2002, DIC Asset AG, with registered offices in
Frankfurt/Main, is a real estate company with a dedicated investment focus
on commercial real estate in Germany, pursuing a return-oriented investment
policy. DIC Asset AG’s real estate portfolio currently includes around
920,000 sqm of floor space, spread over 320 properties. The portfolio is
divided into three segments: the Core portfolio includes the proprietary
portfolio held on a long-term basis and offering stable, attractive rental
yields; the Value-Added portfolio contains real estate with promising
performance potential over the medium term; while the Opportunistic
Co-Investments portfolio is comprised of real estate investments that have
a more pronounced risk/return profile, which will be placed with third
parties following a repositioning under an individual business plan. Real
estate assets under management currently amount to approx. EUR 2.2 billion.
DIC Asset AG, which is listed on the SDAX, has just successfully completed
its second capital increase this year. In total, EUR 400 million net has
been added to the company in 2006. The current market capitalization is
over EUR 800 million. 

DIC Asset AG/Investor Relations
Stephan Gramkow
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. (069) 27 40 33-10
Fax (069) 27 40 33-70

DGAP 17.12.2006 
Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt Deutschland
Phone:        069 / 274033-0
Fax:          069 / 274033-69
E-mail:       info@dic-asset.de
WWW:          www.dic-asset.de
ISIN:         DE0005098404
WKN:          509840
Indices:      S-DAX
Listed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
              Berlin-Bremen, München, Stuttgart, Düsseldorf
End of News                                     DGAP News-Service