alstria office REIT-AG

Earnings Release • Mar 6, 2008

News Details

Corporate | 6 March 2008 07:46

alstria office REIT-AG: Preliminary Financial Results 2007 and Outlook 2008

alstria office REIT-AG / Miscellaneous

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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alstria office REIT-AG: Preliminary Financial Results 2007 and Outlook 2008

• Revenues increased by more than 170% to EUR 82.6 m
• Net asset value per share of EUR 15.55, 29 % higher than yesterday’s
closing share price of EUR 12.10
• Funds from operations (FFO) increased to EUR 31,5 m (2006 EUR -3,5 m)
• Pay-out to shareholders of approx. 52 cents per share will be proposed
• Around 15% revenues growth and more than 25% FFO growth expected for
2008

Hamburg, March 6, 2008 – alstria office REIT-AG (symbol: AOX, ISIN:
DE000AOSDZU1) an internally managed Real Estate Investment Trust (REIT)
which is solely focused on acquiring, owning and managing office real
estate in Germany, today reports its preliminary financial results for
2007.

As a result of the substantial growth in investment properties from EUR
1,29 m to EUR 1,69 m, revenues increased from EUR 30.1 m in 2006 to EUR
82.6 m in 2007. This growth resulted in an increase of operating income
(FFO) from EUR -3.5 m to EUR 31.5 m in 2007. On the basis of this FFO, the
Management will suggest a pay-out of EUR 28.4 m to its shareholders on the
annual general meeting on 5 June 2008. The pay-out per share will be
approx. 52 cents.

Key preliminary financials

in EUR m 2007 2006 Var
Revenues 82,6 30,0 175%
Net Profit 52,5 14,5 262%
FFO 31,5 -3,5 n/a
FFO/Share (in EUR) 0,56 n/a n/a
Dividend per Share* 0,518 n/a n/a
Investment Property 1.693,7 1.289,5 31%
NAV 870,9 397,6 119%
NAV/Share (in EUR) 15,55 n/a n/a

* Based on shares outstanding less treasury stock from buy-back program

alstria reports a net asset value (NAV) of EUR 871 m, which is up around
EUR 473 m (or 119%) as compared to the prior year. As of 31 December 2007
the NAV per share was EUR 15.55, which is 29% higher than yesterday’s
closing price on Xetra of EUR 12.10.

Outlook 2008

The profitable growth is going to continue in 2008. The Management expects
revenues to grow by around 15% to EUR 95 m in 2008. At the same time FFO
are expected to increase by more than 25% to approx. EUR 40 m. In line with
the company’s high pay-out policy, the FFO will be the basis for future
dividend pay-outs. It remains to be the company’s objective to pay out 90%
of the FFO generated in the respective year, which reflects a dividend pay
out significantly higher than its legal obligation under the G-REIT Law.

Olivier Elamine, CEO of alstria comments: 'The full year results of alstria
in 2007 demonstrate the strength of the company and its unique profile in
Germany. We have benefit in full of the unique competitive advantage of the
G-REIT, using the exit tax benefit in order to enhance the benefit of the
transactions to both the sellers and alstria.

We will propose out of our recurring and, for the first time in Germany,
untaxed FFO a dividend of approx. 52 cents per share. The recent
acquisitions, as well as the positive prospects on the asset management
side already allow us to expect this dividend to grow by more than 25% next
year.

Operations are going to be the main focus of the company in 2008, as we
will start refurbishment projects and increase our leasing activities on
the newly acquired assets. We also plan to sell between EUR 50 and 100 m,
as part of our active buy and manage strategy'.

Publication of final 2007 financials

The publication of the final financial results and the presentation of the
annual report will be on 2 April 2008.

About alstria:

alstria office REIT-AG is an internally managed Real Estate Investment
Trust (REIT) solely focused on acquiring, owning and managing office real
estate in Germany. alstria was founded in January 2006 and was converted
into the first German REIT in October 2007. Its headquarters are based in
Hamburg.

alstria office REIT-AG owns a diversified portfolio of properties across
attractive German office real estate markets. Its current portfolio
comprises 91 properties with an aggregate lettable space of approximately
945,000 sqm and is valued at approximately 1.9 billion Euro.

alstria intends to expand its portfolio significantly in the upcoming years
as part of a sustainable growth strategy. This strategy is 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.com

Disclaimer

This release constitutes neither an offer to sell nor a solicitation of an
offer to buy any securities. The securities have already been sold.

As far as this press release contains forward-looking statements with
respect to the business, financial condition and results of operations of
alstria office REIT-AG (alstria), these statements are based on current
expectations or beliefs of alstria's management. These forward-looking
statements are subject to a number of risks and uncertainties that could
cause actual results or performance of the Company to differ materially
from those reflected in such forward-looking statements. Apart from other
factors not mentioned here, differences could occur as a result of changes
in the overall economic situation and the competitive environment –
especially in the core business segments and markets of alstria. Also, the
development of the financial markets and changes in national as well as
international provisions particularly in the field of tax legislation and
financial reporting standards could have an effect. Terrorist attacks and
their consequences could increase the likelihood and the extent of
differences.

alstria undertakes no obligation to publicly release any revisions or
updates to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.

Media:
Simon Steiner
Tel: +49 - 40 - 226 341 340
Email: pr@alstria.de

Investor Relations:
Brigitte Büchner
Tel: +49 - 40 - 226 341 319
Email: ir@alstria.de

06.03.2008 Financial News transmitted by DGAP

Language: English
Issuer: alstria office REIT-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
Internet: www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices: SDAX, EPRA, German REIT Index
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München, Stuttgart

End of News DGAP News-Service

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