alstria office REIT-AG

Share Issue/Capital Change • Mar 20, 2007

News Details

Corporate | 20 March 2007 21:45

Alstria Office AG: alstria announces details related to its IPO

Alstria Office AG / IPO

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

---

Not for distribution in or into the United States, Canada, Japan or
Australia

alstria announces details related to its IPO

•Roadshow starts tomorrow and price range expected to be announced around
March 28

•Offer period expected to begin on March 28 and end on April 2; first
trading day planned for April 3

•Offer size of up to 25.4 million shares (plus greenshoe option of an
additional 3.81 million shares); up to 16 million shares resulting from a
capital increase

•Free float expected to be slightly more than 50% assuming placement of all
offered shares (incl. greenshoe)

•Based upon the current draft legislative proposal, alstria’s management
and the selling shareholder intend to procure the conversion of the Company
into a G-REIT

Hamburg, 20 March 2007 – Alstria Office AG (alstria), a real estate company
solely focused on acquiring, owning and managing office real estate in
Germany, today announced the key terms for its share offering. The roadshow
will start tomorrow and the offer price range will presumably be announced
around March 28, 2007, thus initiating the offer period, which is expected
to run from March 28, 2007 to April 2, 2007. During this time interested
investors may submit offers to purchase shares. The Company will publish,
in the form of a supplement to the prospectus, the exact start and end of
the offer period, the offer price range, and other information.

A total of up to 25.4 million ordinary bearer shares with no par value will
be offered. Of those, up to 16 million shares will result from a capital
increase. The remaining shares will be offered by the selling shareholder,
a subsidiary of Captiva Capital Partners 2 SCA, which will remain an
important shareholder of alstria after the IPO with an expected stake of
slightly less than 50 % in the Company assuming the greenshoe option of an
additional up to 3.81 million shares is exercised in full. Captiva Capital
Partners 2 SCA is advised by Natixis Capital Partners Ltd. Free float is
expected to be slightly more than 50 % again assuming the greenshoe option
is exercised in full.

The IPO comprises a public offering to retail and institutional investors
in Germany and Luxembourg and private placements outside of those two
countries.

Trading is planned to commence on the Regulated Market (Prime Standard) at
the Frankfurt Stock Exchange on April 3, 2007, under the trading symbol
'AOX'. The International Securities Identification Number (ISIN) is
'DE000A0LD2U1', the German Securities Code (WKN) 'A0LD2U'.

Olivier Elamine, CEO of alstria: 'I expect that our track record, our long
term and focused business model, and our growth strategy will be appealing
to investors. The listing of alstria would also allow the Company to
increasingly participate in the positive development of the German office
real estate market and expand relationships with our core tenants.'

Based upon the current draft of the legislative proposal concerning the
introduction of G-REITs, alstria’s management and the selling shareholder
intend to procure the conversion of the Company into a G-REIT. However, the
legislative process is not finalized and no assurance can be given that
alstria will convert into a G-REIT.

alstria intends to use funds raised from the capital increase contemplated
as part of the IPO to finance the Company’s growth-oriented, value-adding
strategy that has been successfully initiated since the Company’s founding
and in particular to finance the acquisition of an office real estate
portfolio from UBS Kapitalanlagegesellschaft mbH agreed upon in December
2006. alstria’s strategy is based on selective investments, active asset
and portfolio management as well as on establishing and maintaining good
relationships with clients and key decision makers. To this end, the
Company targets selective investments with an annual investment volume of
Euro 500 to 750 million over the next three years. alstria expects future
acquisitions to originate mainly from privatizations in the public sector,
divestments in the corporate sector as well as portfolio restructuring
processes of institutional and private German-based investors.

Further information regarding the terms and conditions of the offer can be
found in the prospectus approved by the BaFin on March 20, 2007, which can
be downloaded on alstria’s website (www.alstria.de) and is available free
of charge from the Company and financial institutions involved in the
offering.

About alstria

Alstria Office AG (alstria) is a real estate company which is solely
focused on acquiring, owning and managing office real estate in Germany.
alstria was founded in January 2006 and its headquarters are based in
Hamburg.

alstria owns a diversified portfolio of properties across attractive German
office real estate markets. Its current portfolio comprises 63 real estate
properties with an aggregate lettable space of approximately 620,000 sqm
and a total value of Euro 1,380 million. This includes two residential real
estate properties for which a sale and purchase agreement has been executed
with a third party but which are still owned by alstria and will only
economically be transferred to the purchaser in July 2007 and will legally
be transferred thereafter. If one takes into consideration an acquisition
recently agreed with UBS Real Estate Kapitalanlagegesellschaft mbH,
alstria’s portfolio would include 71 properties with an aggregate lettable
space of approximately 774,000 sqm and a total value of Euro 1,601 million.

alstria intends to expand its portfolio significantly in the upcoming years
as part of a sustainable growth strategy based on selective investments and
active asset and portfolio management as well as on establishing and
maintaining good relationships with its key customers and decision makers.

For further information, please see: www.alstria.de

Contact:

Utta Tuttlies
Phone: +49 - 40 - 22 63 41-340
E-Mail: ututtlies@alstria.de

Disclaimer

This press release constitutes neither an offer to sell nor a solicitation
of an offer to buy any securities. An offer is being made solely by means,
and on the basis of the prospectus, published in the internet under
www.alstria.de and available free of charge at:

•Alstria Office AG, Fuhlentwiete 12, 20355 Hamburg, Germany (Fax: +49
(0)40226341 – 310)
•J.P. Morgan Securities Ltd., Junghofstraße 14, 60313 Frankfurt am Main,
Germany (Fax: +49 (0)69 7124 1159)
•J.P. Morgan, 6 Route de Treves, Senningerberg L-2633 Luxembourg (Fax:
+35234108000)
•Deutsche Bank Aktiengesellschaft, Große Gallusstraße 10-14, 60311
Frankfurt am Main, Germany (Fax: +49 (0)69 910 38587)
•M.M. Warburg & CO Kommanditgesellschaft auf Aktien, Ferdinandstraße 75,
20095 Hamburg, Germany (Fax: +49 (0)40 36181109)

This press release and the information contained herein are not for
distribution in or into the United States of America and must not be
distributed 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 press release does
not constitute an offer or invitation to purchase any securities in the
United States. The securities of Alstria Office 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 document is directed only at persons (i) who are outside the United
Kingdom or (ii) who have professional experience in matters relation to
investments falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (as amended)(the 'Order')
or (iii) who fall within Article 49(2) (a) to (d) ('High net worth
companies, unincorporated associations etc.') of the order (all such
persons together being referred to as 'relevant persons'). Any person who
is not a relevant person must not act or reply on this communication or any
of its contents. Any investment or investment activity to which this
communication relates is available only to relevant persons and will be
engaged in only with relevant persons. This document is not directed at
private customers, as defined by the Financial Services Authority in the
UK, who should not rely on this communication.

Contact:

Utta Tuttlies
Phone: +49 - 40 - 22 63 41-340
E-Mail: ututtlies@alstria.de

DGAP 20.03.2007

Language: English
Issuer: Alstria Office AG
Fuhlentwiete 12
20355 Hamburg Deutschland
Phone: +49 (0)40 226 341 300
Fax: +49 (0)40 226 341 310
E-mail: info@alstria.de
www: www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard)

Notierung vorgesehen

End of News DGAP News-Service

---