DGAP-Adhoc: ADLER Real Estate AG: ADLER Real Estate AG well positioned

ADLER Real Estate AG / Quarter Results

14.11.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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ADLER Real Estate AG well positioned

  - ADLER Real Estate AG publishes Nine-month result 

  - Expectations for 2008 adjusted 

Hamburg, 14 November 2008. ADLER Real Estate AG (ISIN DE0005008007),
Frankfurt, is adapting to the general slowdown in economic growth and
altered conditions on the financing markets brought on by the financial
crisis. For the year as a whole, the Management Board assumes that the
company will achieve a slightly positive—but in all cases a
balanced—result, after original forecasts called for a return of approx.
10% to 15% on equity. The current estimate takes into account the tougher
financing conditions for large real estate projects, which could lead to a
slowdown in transactions. Irrespective of this, the company is still
consistently further developing its current projects. Various successful
steps, including the parceling of building land and the preparations for
issuance of building permits, have improved the company asset values.

The financial statements as of 30 September 2008 still do not contain the
sale, successfully closed in October, of the land to develop a logistics
center in Duisburg. As a result, the income statement for the first nine
months closed with a negative consolidated result of EUR 2.4 million. EBIT
also amounted to minus EUR 2.4 million. Revenue declined in the reporting
period to EUR 3.14 million (previous year:15.3), but was not comparable to
the previous year, which included extraordinary income from the takeover of
MÜBAU Real Estate GmbH. The sale of the property for logistic space became
effective in October 2008 when the purchase price became due. This will
lead to a significant improvement in the Group's liquidity and earnings
positions in the fourth quarter. The equity ratio amounts to 74%. The
company thus feels it is well armed to pass through the general crisis and
to take advantage of any opportunities that arise.

The Management Board

If you may have any request please refer as follows 

German communication dbk ag

Jörg Bretschneider 

Alsterufer 34, 20354 Hamburg

Tel.: 040/46 88 33 0, Fax: 040/47 81 80

presse@german-communication.com
DGAP 14.11.2008 
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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
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