Accentro Real Estate AG

Regulatory Filings • May 5, 2008

News Details

Corporate | 5 May 2008 14:18

ESTAVIS AG Expands Property Development Activities

ESTAVIS AG / Joint Venture

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Berlin, 5 May 2008 – ESTAVIS AG continues to expand its activities in the
area of commercial property development. Partnering with an established
property development company, ESTAVIS has formed a Joint Venture for the
development and commercialisation of several retail and commercial centres
in Stuttgart, Pforzheim und Limburg (Germany). The total investment volume
amounts to EUR 14 million. The projects are scheduled to be completed in
the financial year 2008/2009. ESTAVIS expects to see first positive
earnings from the Joint Venture before the end of the current financial
year (ending 30 June 2008).

In the future, ESTAVIS will enhance its activities in the property
development business, seizing additional growth opportunities for the
company while pursuing portfolio trading and apartment sales at the same
time.

Rainer Schorr, CEO of ESTAVIS AG, explained: 'The German market shows great
potential regarding the development of commercial properties. This is why
we will significantly strengthen our activities in this area.'

About ESTAVIS AG

ESTAVIS AG is a listed company headquartered in Berlin, Germany. The
company is a leading market marker between private property vendors and
institutional purchasers of property portfolios. Estavis purchases
individual properties in line with precisely defined criteria, bundles them
into structured portfolios and then sells them primarily 'on demand' to
institutional investors from Germany and abroad. Estavis purchases the
property with the help of a comprehensive network, including over 500
experienced property brokers.
With an expected sales volume of over 1,000 residential units sold in the
current financial year, the Estavis Group is one of the leading suppliers
in the strongly growing market segment of residential property.

ESTAVIS AG shares are listed on the Premium Standard segment of the
Frankfurt Stock Exchange (ISIN DE000A0KFKB3).

Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir@estavis.de

05.05.2008 Financial News transmitted by DGAP

Language: English
Issuer: ESTAVIS AG
Uhlandstr. 165
10719 Berlin
Deutschland
Phone: +49 (0)30 - 887 181 - 0
Fax: +49 (0)30 - 887 181 - 11
E-mail: info@estavis.de
Internet: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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