Fair Value REIT-AG / Miscellaneous 26.03.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - ProLogis Germany Management GmbH has rented 1,460 m² of office space in direct proximity to the airport - Occupancy at 42% four months prior to completion Munich, March 26, 2008 Fair Value REIT-AG has rented 1,460 m² of office space in 'Airport City' in Düsseldorf. Tenant is ProLogis Germany Management GmbH, which is the German subsidiary of the world's largest owner, manager and developer of logistics premises. According to the tenants own information, a total of around US$ 36.3 billion is currently under management. It will use these premises as its 'Headquarter Northern European Region'. With this letting - four months prior to completion of the 'Airport Office II' office complex - 42% of the total space has already been let. In addition, Fair Value is also in advanced-stage negotiations with several other parties interested in renting the remaining space. In October 2007, just three months after construction started, Fair Value acquired the attractive property in the direct proximity of the Düsseldorf International Airport terminal building, and thus took over responsibility for letting the property. The building is scheduled to be completed in July 2008 and will have a total rental area of 4,671 m² with 89 underground parking spaces and 14 outdoor parking spaces. Frank Schaich, Fair Value REIT-AG's CEO believes that Fair Value REIT-AG's early involvement in this project at Düsseldorf International Airport was the right decision and is looking to the future with optimism: 'We are experiencing strong interest in office space at this location, in particular as a result of the property's direct proximity to the airport. This makes us very confident that the property will be fully let by the time it is completed in mid-July of this year.' Company profile Munich-based Fair Value REIT-AG focuses on the acquisition, rental, property management and sale of commercial properties in Germany. Its investment activities focus primarily on offices, logistics and retail properties in German regional centers. As a REIT-AG, Fair Value is not subject to corporation or trade tax and benefits from the exit tax privilege when purchasing properties. Fair Value's USP is that in addition to investing directly in real estate it also acquires interests in closed-end real estate funds. In its 'Participations' segment Fair Value currently owns interests in 13 closed end real estate funds with a highly diversified portfolio of 49 properties. The rental area of this portfolio totals 422,503 m² and had a market value of around EUR 558 million as of December 31, 2007 (Fair Value's interest in this portfolio currently totals around EUR 225 million). In its 'Direct Investments' segment, Fair Value acquired a portfolio of 32 commercial properties in the federal state of Schleswig-Holstein with a rental area of 43,113 m², mostly used as bank branches. These properties had a total market value of around EUR 50 million as of December 31, 2007. As of December 31, 2007, the total portfolio which has a proportionate market value of EUR 275 million for Fair Value (without the office building in Düsseldorf) had an economic occupancy level of more than 96% of the possible annual rent of around EUR 22 million. Around 47% of rental income stems from offices, 40% from retail facilities, 8% is from logistics facilities and 5% from other facilities. 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 26.03.2008 --------------------------------------------------------------------------- Language: English Issuer: Fair Value REIT-AG Leopoldstraße 244 80807 München Deutschland Phone: +49 (0)89 9292 815-01 Fax: +49 (0)89 9292 815-15 E-mail: info@fair-value-reit.de Internet: www.fair-value-reit.de ISIN: DE000A0MW975 WKN: A0MW97 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Stuttgart, München End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Fair Value REIT-AG: Additional rental agreement signed for 'Airport Office II', Düsseldorf
| Source: EQS Group AG