- Successful integration of Colonia Real Estate AG and other acquisitions strengthen operating result and increase cash flows

- EBT forecast for 2012 raised to EUR 75 million

- Dividend payout of EUR 0.20 announced for 2011

Hamburg (15 November 2011) - Based on the strong results achieved in the year to date, TAG Immobilien AG ('TAG' in the following) has forecast EBT of approx. EUR 75 million for 2012. In addition to this positive result for TAG, the Group's business policy will focus on the distribution of a dividend, with the aim of paying out an estimated dividend of EUR 0.20 per share even for 2011.

The company successfully put its growth strategy into practice in 2011. Following the integration of Colonia Real Estate AG and acquisition of various other portfolios, the Group's residential real estate inventory currently comprises roughly 1.9 million square metres or approx. 30,800 units. TAG is using the resultant development potential and generation of attractive yields to continuously enhance its position in the German real estate market. The TAG management board therefore today decided to issue an EBT forecast for 2012 in the amount of approx. EUR 75 million. Even for 2011, the aim is to use profits not only to pay down debt and finance further growth, but also to pay out an estimated dividend of EUR 0.20 per share, pending the approval of the year-end financial statements. The company plans to distribute a significant share of the profits to shareholders in the years ahead as well.

Group CEO Rolf Elgeti comments: 'TAG's operations are performing much better than we expected even up until very recently. This is increasingly reflected in burgeoning cash flows. Therefore - following a long, tough phase of restructuring - it is time to start paying out part of these profits to our shareholders again. It can be expected that TAG will continue to generate strongly rising cash profits in the years ahead. Low interest rates and rising rents play a major role here, in addition to the reduced costs and economies of scale. A dividend policy that reflects this is a logical consequence.'

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