Ernst Russ AG — Earnings Release 2008

Feb 27, 2009

News Details

Ad-hoc | 27 February 2009 14:49

HCI Capital AG: Preliminary disclosure of Group results for 2008

HCI Capital AG / Final Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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HCI Capital AG (ISIN DE000A0D9Y97) will report a loss of EUR 16.8 million
after taxes (2007: profit of EUR 30.6 million) in its consolidated
financial statements 2008. The net figure includes EUR 12 million in
negative non-recurring effects recognised in the fourth quarter of 2008.
Essentially, these were attributable to the EUR 7 million write-off of the
investment in NY Credit Operating Partnership LP, plus further write-downs
of investments and other assets in an aggregate amount or EUR 5 million.
Nevertheless, the result posted is only EUR 3.8 million below HCI's
earnings forecast: the Company had projected a range of EUR -9 million to
EUR -13 million.

Excluding these non-cash, non-recurring effects, which amounted to EUR -9.5
million during the fourth quarter (taking into account the offset provided
through the related tax effects), HCI Group's consolidated net income after
taxes was EUR -7.3 million, clearly outperforming the earnings forecast.

HCI Capital AG will publish its annual report 2008 during a press
conference to present the financial statements on 9 March 2009, as
scheduled.

Contact:
HCI Capital AG
Dr. Olaf Streuer
Head of Investor Relations
Tel: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

27.02.2009 Financial News transmitted by DGAP

Language: English
Issuer: HCI Capital AG
Bleichenbrücke 10
20354 Hamburg
Deutschland
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: hci@hci.de
Internet: www.hci.de
ISIN: DE000A0D9Y97
WKN: A0D9Y9
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Hannover, Stuttgart, München,
Düsseldorf

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