Accentro Real Estate AG

Share Issue/Capital Change • Mar 20, 2007

News Details

Corporate | 20 March 2007 08:40

ESTAVIS AG: ESTAVIS AG announces its intention to list on Frankfurt Stock Exchange

ESTAVIS 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.

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Berlin, 20 March 2007: ESTAVIS AG ('ESTAVIS' or 'the Company'), the
Berlin-based real estate company, announces that it is seeking a listing on
the Frankfurt Stock Exchange's Prime Standard. ESTAVIS’ core business is in
the assembly of real estate portfolios. The Company is a leading
market-maker between private sellers of individual properties and
institutional buyers of property portfolios.

A total of up to 3,287,464 shares in ESTAVIS will be offered in a public
offering in Germany and an international private placement to institutional
investors in selected countries. This includes a capital increase of up to
2,000,000 new shares and a sale of up to 858,664 secondary shares from
selling shareholders. Up to 428,800 additional shares will be offered by
the selling shareholders to cover over-allotments.

The price range will be published before the beginning of the offer period
which is expected to commence on 27 March and ends on 29 March 2007.
Trading in the shares is expected to commence on 2 April 2007.
The management will begin a roadshow to present the Company to German and
international investors today.

Proceeds for the company from the IPO will be used to further develop the
already profitable ESTAVIS business model. All shares issued will be
eligible to receive dividends from the financial year commencing 1 July
2006.
Cazenove is managing the IPO as sole global co-ordinator and joint
bookrunner with WestLB acting as joint bookrunner.

Rainer Schorr, CEO of ESTAVIS commented, 'The innovative ESTAVIS business
model, with its core business in real estate portfolio assembly, offers a
new access channel to domestic and international institutional real estate
investors in the bouyant German market. Feedback from investors on our
business and strategy has been very positive. We believe our offering
provides a good opportunity for investors to benefit both from potential
company growth and from future dividend distributions.'

About ESTAVIS
ESTAVIS AG is a real estate company which has its core business in real
estate portfolio assembly. The company is a leading market-maker between
private sellers of individual properties and institutional buyers of
(non-recourse financed) property portfolios. ESTAVIS generally assembles
and structures the portfolios to order or to fit market requirements. The
company sources properties through a network of more than 200 brokers,and
renovates them where appropriate. ESTAVIS also provides development
services and undertakes limited opportunistic development projects which
complement the core business.

ESTAVIS recently strengthened its business through the acquisition (in a
transaction which will be completed shortly) of a majority holding in the
Hamburg-based Immobilien Invest SUCV AG, the former HII Hanseatischen
Immobilien Invest AG ('HII AG'). HII AG is the holding company of the
HII/CWI Group (the 'HII/CWI Group'), which also includes the majority
holding acquired in CWI Real Estate AG by HII AG in September 2006. The
HII/CWI Group will extend ESTAVIS' business activities by selling
properties to private individuals. This will strengthen the relationships
with its institutional customers by offering a range of additional
services.

According to independent market studies, the demand for German property
portfolios continues to be strong. This can be attributed to the
introduction of REITS, which is expected in 2007, and the continued
interest in German real estate as an asset class.

In the calendar year 2006 the ESTAVIS Group posted on a proforma basis
total sales of approximately €136 million, with a proforma operating profit
of over €18.9 million (including the new holding in the HII/CWI for the
calendar year 2006).
Since 2005, ESTAVIS has shown EBIT margins of approximately 15 percent and
above in its financial half year reports.

Rainer Schorr, founder and major shareholder of ESTAVIS (he currently holds
65.9% via Rainer Schorr Beteiligungsgesellschaft mbH and 10,9% as Rainer
Schorr, partially held in trust), will remain the single largest
shareholder after the planned IPO.

The German language prospectus, which gives details of the ESTAVIS listing
and has been approved by the BaFIN (Federal Financial Supervisory
Authority) on 19 March 2007, and can be downloaded from: www.estavis.de (in
the Investor Relations area).

DISCLAIMER:
This document is not a securities prospectus and the information contained
therein does not constitute an offer to sell or a solicitation of an offer
to purchase any securities of ESTAVIS AG in Germany nor under any other
jurisdiction, in particular not where such kind of offer or solicitation is
prohibited or lacks the required permission. Potential investors in shares
of ESTAVIS AG are asked to familiarize themselves with and to observe the
respective restrictions. A decision to invest in the shares of ESTAVIS AG
should only be made on the basis of the securities prospectus detailing the
public offering of shares of Estavis AG in Germany, which has been
published under www.estavis.de on 19 March 2007. The information in this
document may not be disclosed outside of Germany, in particular not in the
United States, to US Persons according to regulation S of the US Securities
Act of 1933 or in publications with a general circulation in the United
States with the exception of a such disclosures or announcements outside
Germany which are mandatory under the German law. Any person who fails to
comply with these restrictions may violate the security laws of certain
jurisdictions, in particular in the United States. Shares in ESTAVIS AG are
not publicly offered outside of Germany.

Contact:
ESTAVIS AG – Uhlandstraße 165 – D-10719 Berlin
Investor Relations
Telephone.: +49 (0)30 - 887 181-799
Fax: +49 (0)30 - 887 181-779
E-Mail: ir@Estavis.de
Website: www.Estavis.de

DGAP 20.03.2007

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
www: http://www.estavis.de
ISIN: DE000A0KFKB3
WKN: A0KFKB
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard)

Notierung vorgesehen / designated to be listed

End of News DGAP News-Service

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