News Detail - DIC Assets

DIC Asset: 10 per cent capital increase to support further growth

DIC Asset AG / Capital Increase

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

This announcement must not be distributed in the United States of America, Canada, Japan or Australia.

To maintain scope for further growth, DIC Asset AG will increase its issued share capital by approx. € 2.85 million, from Euro 28.5 million to approx. Euro 31.35 million, by issuing new shares. The 2,849,999 new shares will be offered to shareholders for subscription at a price of Euro 21.90, and subject to a subscription ratio of one new share for each ten shares held. The subscription period for the new shares will commence on 21 November 2007, and is expected to end on 4 December 2007. The new shares carry full dividend rights from 1 January 2007. The Company is conducting this rights issue as part of the Authorised Capital approved by the Annual General Meeting on 6 June 2007. The issue proceeds will be of approx. Euro 62 million. There are no plans for trading in subscription rights.
The Company’s major shareholders – Deutsche Immobilien Chancen AG & Co. KGaA, DIC ML GmbH, and Morgan Stanley Real Estate Funds (MSREF) – have indicated that they will each exercise the subscription rights available on their respective stake in full, and will subscribe to an aggregate of approx. 1.13 million new shares at the subscription price, within the scope of the subscription offer. They have also indicated their intention to purchase any shares not taken up, at the subscription price. Reflecting the willingness of major shareholders to exercise their own subscription rights, and to acquire shares not taken up by free-float shareholders at the subscription price – thus securing the desired inflow of funds raised – the subscription price was set at Euro 21.90, close to last Fridays closing price of Euro 21.94.

DIC Asset AG will apply the issue proceeds predominantly to finance further acquisitions of real estate assets. The Company values the readiness of its major shareholders to exercise subscription rights as a clear sign of approval for its strategy. Regarding the actual situation in the finance markets DIC Asset AG will establish the conditions to increase the share of capital resources when financing attractive transactions, if necessary.
Deutsche Bank and Morgan Stanley have been mandated as joint lead managers.

This announcement constitutes neither an offer to sell nor a solicitation of an offer to buy any securities.
This announcement and the information contained herein are not for distribution in or into the United States of America and must not be distributed or forwarded to U. S. persons (as defined in Regulation S of the U. S. Securities Act of 1933, as amended ('Securities Act')) or to publications with a general circulation in the United States. This announcement does not constitute an offer or invitation to purchase any securities in the United States. The securities of DIC Asset AG have not been registered under the Securities Act and may not be offered, sold or delivered within the United States or to U. S. persons absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offering of securities in the United States of America.
This information is directed at and/or for distribution only (i) to persons located outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being together referred to as 'relevant persons'). This information is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any investment or investment activity to which this information relates is available only to relevant persons and will be engaged in only with relevant persons.

Investor Relations:
Stephan Gramkow
Grünhof - Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. +49-69-9454858-39
Fax +49-69-9454858-99 

19.11.2007  Financial News transmitted by DGAP

Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt
Phone:        +49 69 9454858-0
Fax:          +49 69 9454858-99
ISIN:         DE0005098404
WKN:          509840
Indices:      S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Stuttgart, Düsseldorf  
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