PATRIZIA AG

Share Issue/Capital Change • Jan 10, 2007

News Details

Ad-hoc | 10 January 2007 16:25

PATRIZIA Immobilien AG successfully issues 4.73mm new shares to finance the recently announced and future portfolio acquisitions

PATRIZIA Immobilien AG / Capital Increase

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.

---

Ad-hoc press release
pursuant to Section 15 of the German Securities Trading Act (WpHG):

PATRIZIA Immobilien AG successfully issues 4.73mm new shares to finance the
recently announced and future portfolio acquisitions

Placement of new shares via Accelerated Bookbuilding concluded

Augsburg, 10 January 2007: The management board of PATRIZIA Immobilien AG
(ISIN: DE000PAT1AG3) ('PATRIZIA') announces the successful placement of
4,730,000 new shares through a capital increase against cash contributions.

The proceeds of €104,060,000 are used to finance both already acquired real
estate portfolios and future acquisitions.

The shares were allocated today exclusively to German and international
institutional investors by means of an Accelerated Bookbuilding at €22.00
per share, representing a discount of 0.90% to yesterday’s closing price on
the Frankfurt stock exchange. The new shares were offered without
pre-emptive rights for existing shareholders.

Following the capital increase First Capital Partner’s share in PATRIZIA is
reduced from 50.02% to 45.48%.

Settlement and listing

Settlement and delivery of the new shares will occur on 16 January 2007.
First day of trading of the new shares on the Frankfurt Stock Exchange is
expected for the same day. Following the offering PATRIZIA will have
52,130,000 ordinary shares outstanding.

The issue of new shares was managed by JPMorgan and Sal. Oppenheim.
JPMorgan acted as Sole Bookrunner in the capital increase.

The Managing Board

Augsburg, January 10, 2007

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
D-86150 Augsburg
Germany

Admitted to trading on the Official Market (Prime Standard) of the
Frankfurt Stock Exchange.
ISIN: DE000PAT1AG3
SIN: PAT1AG

The information contained herein may be not be, directly or indirectly,
published or distributed in the United States of America, Canada, Australia
or Japan. This announcement is not an offer to sell or to issue securities
and not soliciting an offer to buy or to subscribe for the securities named
herein and does not form part of any such offer or solicitation. The
placement of shares and the distribution of this announcement and further
information in connection with the placement may be subject to legal
restrictions in certain jurisdictions and persons who receive documents
referred to in this announcement or any other information are responsible
to comply with and inform themselves about the applicable legal
restrictions. The non-compliance with any of these restrictions may violate
the securities laws in the relevant jurisdiction.

All securities referred to in this announcement have not been, and will not
be, registered under the U. S. Securities Act of 1933.(the 'Securities
Act') and may not be offered or sold within the U. S or to or for the
account or benefit of U.S.- Persons (as defined in the Securities Act)
unless they have been registered or exempt from the registration
requirement under the Securities Act. The company does not and will not
offer any securities within the United States.

This announcement is neither an offer to sell securities within Germany nor
a prospectus in accordance with the German Securities Prospectus Act
('Wertpapierprospektgesetz'), the Commission Regulation (EC) No 809/2004 of
April 29, 2004 or any other legal provisions applicable in Germany with
respect to the issue, offer and sale of securities.

Contact
Investor Relations
Claudia Kellert
Phone +49 (0)8 21 509 10-360
Fax +49 (0) 8 21 509 10-399
investor.relations@patrizia.ag

Press
Astrid Schüler
Phone +49 (0) 8 21 509 10-623
Fax +49 (0) 8 21 509 10-695
presse@patrizia.ag

DGAP 10.01.2007

Language: English
Issuer: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg Deutschland
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations@patrizia.ag
WWW: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: MDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, München, Hamburg, Düsseldorf, Stuttgart

End of News DGAP News-Service

---