DGAP-News: BBI Bürgerliches Brauhaus Immobilien AG:Executive Management and Supervisory Board release statement pertaining to compulsory offer made by VIB Vermögen AG

BBI Bürgerliches Brauhaus Immobilien AG / Miscellaneous

04.02.2008 

Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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• Compulsory offer pursuant to § 35 WpÜG (German Acquisiton and Take-over
Act) released on 24th January 2008

Ingolstadt, 4th February 2008 - The Executive Management and the
Supervisory Board of the BBI Bürgerliches Brauhaus Immobilien AG (BBI AG),
a company that focuses on the asset management of retail property, have
released a joint statement on the compulsory offer pursuant to § 35 WpÜG
(Acquisiton and Take-over Act) made by the VIB Vermögen AG. The Executive
Management and the Supervisory Board regard the offer price as fair, but
refrain from giving a recommendation either in favour of or against
accepting the offer amounting to EUR 11.70 per bearer no-par share ((WKN
528000 / ISIN DE0005280002). The public offer to buy made by the VIB
Vermögen AG was released on 24th January 2008 and is addressed to all of
the BBI AG shareholders.

In December last year, the proportion of voting rights of the VIB Vermögen
AG had already exceeded the 30% threshold, thus triggering the compulsory
offer. The weighted average share price of the BBI share during the
previous three months as consequently determined by the Bundesanstalt für
Finanzdienstleistungsaufsicht (BaFin) (German Federal Financial Supervisory
Agency), amounted to EUR 10.93 on 16th December 2007. According to the data
provided in the bidding documents, the highest acquisition price that the
VIB had paid in the course of the control acquisition was EUR 11.70 per
individual share. Pursuant to the legal requirements (§ 31 Abs. 1 WpÜG),
this is the relevant minimum price for the compulsory offer.

The period for acceptance of the offer began with the release on 24th
January 2008 and will end on 21st February 2008. Both the complete
statement and the bidding documents pertaining to the compulsory offer can
be accessed on the internet under www.bbi-immobilien-ag.de.

Company Profile

The BBI Bürgerliches Brauhaus Immobilien AG (BBI AG) emerged in the year
2006 from the Bürgerliches Brauhaus Ingolstadt AG and its long-established
subsidiary Herrnbräu. Following the takeover of the property inventory of
the brewery real estate, the BBI AG positioned itself as a company focusing
on the asset management of commercial real estate in the segment close to
the consumer. In this respect, specialist retailers, retail centres and
supermarkets rank in particular among the holdings. A total of 13
properties from the previous stock balance and 16 newly acquired properties
belong to the real estate portfolio. As of 30th June 2007, these properties
have provided a total of around 118,000 square metres of lettable area and
they generate an average rental yield of 7% p.a. with reference to the book
value of EUR 125m. All of the properties are fully let, most of them on a
long-term lease. In order to drive growth, the BBI AG has secured, either
contractually or through letters of intent, a further 17 properties that
are currently at the development stage for capital expenditure amounting to
EUR 153m. These new properties, which have for the most part already been
taken by reputable anchor tenants, are to be delivered to the BBI AG
between 2008 and 2010 and will thus contribute to the further increase in
turnover and yield.


Investor & Media Relations
cometis AG
Ulrich Wiehle
Tel: +49(0)611 – 205855-11
Fax: +49(0)611 – 205855-66 
e-mail: wiehle@cometis.de


DGAP 04.02.2008 
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Language:     English
Issuer:       BBI Bürgerliches Brauhaus Immobilien AG
              Manchinger Straße 95
              85053 Ingolstadt
              Deutschland
Phone:        +49 (0)841 6 31 - 2 05
Fax:          +49 (0)841 6 31 - 2 11
E-mail:       franz.katzenbogen@herrnbraeu.de
Internet:     www.bbi-immobilien-ag.de
ISIN:         DE0005280002
WKN:          528000
Listed:       Regulierter Markt in München; Open Market in Frankfurt
End of News                                     DGAP News-Service
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