029 Group SE

Share Issue/Capital Change • May 17, 2002

News Details

Ad-hoc | 17 May 2002 08:02

B&L Immobilien AG english

B&L Immobilien AG plans capital increase Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– B&L Immobilien AG plans capital increase Hamburg, May 17, 2002 – B&L Immobilien AG (SIN 765 950) has confirmed its intention to raise the share capital from authorized capital. With a resolution of December 22, 1999 the Annual Shareholders’ Meeting authorized the Management Board to raise capital against cash contributions. Following the acquisition of equity stakes in the LEG Group and HGL last year, the Management Board and Supervisory Board have stated their intention to carry out a capital increase in the near future, subject to market conditions, under the joint-lead management of SG Investment Banking and WestLB Panmure. Information and explanations on this ad-hoc statement by the issuing company B&L Immobilien AG is listed for official trading on the German stock market. The company’s object is the management, development, buy and sell of shopping malls as well as commercial and residential properties. The company covers the entire real estate value chain. In spring 2001 the company acquired an equity stake in LEG Schleswig-Holstein Landesentwicklungsgesellschaft mbH and in December 2001 in Heimstätten Gesellschaft mbH Lübeck (HGL) which are housing companies with more than 22.000 units in total. In fiscal year 2001 B&L Immobilien AG posted an EBDT of 18.8 million euros and consolidated net income of 11.9 million euros for total revenues of 57.9 million euros. Should you require further details, please contact: Dr. Hans Hellberg B&L Immobilien AG Kajen 12 D-20459 Hamburg Tel: +49 (40) 37 660-0 Fax: +49 (40) 37 660-111 contact@bl-ag.de http://www.bl-ag.de end of ad-hoc-announcement (c)DGAP 17.05.2002 ——————————————————————————– WKN: 765950; ISIN: DE0007659500; Index: Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin und München 170802 Mai 02