ADLER Real Estate AG / Quarter Results 15.05.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADLER Real Estate AG publishes the First Quarterly Report as at March 31, 2008 Hamburg, Mai 15, 2008. During the first quarter of the financial year 2008, the project development environment cyclically influenced the business performance of ADLER Real Estate AG (ISIN DE0005008007). Because of the lack of transactions in project development there were no major sales and earnings performance in the first quarter 2008. Earnings reached only a range of EUR 0.23 million which resulted from current revenues of the Asset and Property Management and rental income. Other operating income amounted to about EUR 0.102 million. A comparison with the extraordinary transaction of MÜBAU Real Estate GmbH in the first quarter of last year is not possible. Operating loss of EUR 0.742 million and a negative consolidated result of EUR 0.769 million occurred due to operating expenses. The results to date of reporting period have not yet reflected the strength that ADLER reached in project development business that continue to develop during the first quarter. The Management Board therefore believes to aim a clearly positive result in the current financial year. The Management Board If you may have any request please refer as follows: german communications dbk ag Jörg Bretschneider Alsterufer 34, 20354 Hamburg Tel.: +49 (0)40 46 88 33 0, Fax: +19 (0)40 47 81 80 presse@german-communications.com DGAP 15.05.2008 --------------------------------------------------------------------------- Language: English Issuer: ADLER Real Estate AG Neuer Wall 77 20354 Hamburg Deutschland Phone: +49 (0)40 - 29 8130-0 Fax: +49 (0)40 - 29 8130-35 E-mail: info@adler-ag.de Internet: www.adler-ag.de ISIN: DE0005008007 WKN: 500800 Listed: Regulierter Markt in Berlin, Frankfurt (General Standard), Düsseldorf, München; Freiverkehr in Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: ADLER Real Estate AG: ADLER Real publishes the First Quarterly Report as at March 31, 2008
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