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Jul 16, 2009

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Corporate | 16 July 2009 08:00

Windsor AG: Buy of a Property in Leipzig

Windsor AG / Miscellaneous/Miscellaneous

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Corporate News

July 16, 2009

WINDSOR AG: Right time right place

WINDSOR AG achieved a very special bargain buy, this within an auction in
Leipzig taking place on June 26, 2009: The company acquired a property
called 'Kleine Fleischergasse 8', located in the middle of the historical
city centre of Leipzig.
Purchase price was favourable EUR 330 per sqm resp. EUR 1.75 million in
total (plus additional acquisition costs).
The property was build in the 17th century, was well known as 'Vetters Hof'
or 'Kleines Joachimsthal' and is located just around to the old town hall,
to the Thomas Church (Thomaskirche), to Mädlerpassage and to one of
Europes' oldest coffee house, the famous 'Arabische Coffebaum'.
Next 18 months, WINDSOR AG intends to develop the current building shell,
this in line with an urban utilisation concept (residential, loft offices,
gastronomy); in this regard it is planned to invest approx. EUR 3.5
million.
CEO Heiko Zybell confirms the profitability of the investment:' Considering
the favourable acquisition price, the fantastic location and the renting
interest which is high already today, this is an ideal investment for us.'.
Rental space is 5,300 sqm. Starting from 2011, net cold rent will amount to
approx. EUR 0.6 million per annum. Due to this net initial yield is approx.
10 %.
After this acquisition, the Leipzig property portfolio of WINDSOR AG comes
up to approx. 20,000 sqm. Leipzig is regarded as an attractive location for
property investments; this is confirmed by Heiko Zybell:'Chances in Leipzig
are much bigger than risks. Population is raising continuously, so demand
for good located apartments remains high. Particularly singles and young
families are interested in this big city flair. But we are also optimistic
with regard to the development of commercial rents. Altogether we intend to
increase our Leipzig property portfolio step by step.'.

Group key figures 2008 (IFRS, in EUR million)

Consolidated balance sheet December 31, 2008
Long-term assets 22.1
- thereof investment properties 18.9
Short-term assets 25.4
- thereof cash to banks 11.0
Equity 29.4
Total debt 18.1
Total assets 47.5
Equity ratio 62%
Return on equity 13.4%

Consolidated income statement January 1 to December 31, 2008
Sales 13.8
EBIT 3.9
EBITDA 3,9
Profit before tax 3.4
Profit after tax 4.0

Information to the share
Number of outstanding shares 9,235,066
Class of shares Bearer/ordinary shares
Listing segment Open Market
Freefloat 46%
Stock exchange Xetra
ISIN / ticker symbol DE0006190705 / WIR

About Windsor AG
Berlin WINDSOR AG is a property company, listed in the Open Market. Company
is focussed on investments in profitable residential and commercial
properties in Berlin, Potsdam and Leipzig. Strategic element is to optimize
and develop the property portfolio by an counter-cyclical investment and
sales strategy. Operating divisions are covering the full value chain:
asset management, development and trading.

Contact:
WINDSOR AG, Lassenstraße 32, D-14193 Berlin, Tel: +49 (30) 886722-0, Fax:
+49 (30) 886722-99
Investor Relations: Thorsten Schrader, schrader@windsor-ag.com

16.07.2009 Financial News transmitted by DGAP