euro adhoc: ECO Business-Immobilien AG / quarterly or semiannual financial statement / ECO Business-Immobilien AG with strong earnings growth for 1-9/2007: EBIT rises by 98%

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16.11.2007

ECO Business-Immobilien AG with strong earnings growth for 1-9/2007:
EBIT rises by 98%

Vienna, 16 November 2007. ECO Business-Immobilien AG, which is listed
in the Prime Market segment of the Vienna Stock Exchange,
successfully continued its selective growth course during the third
quarter of 2007. During the first nine months of this year, organic
growth combined with the active management of the property portfolio
and selective acquisitions led to higher rental revenues and an
increase in the value of properties, while the expansion of trading
activities generated higher gains on sale. Improvements were
registered in all earnings indicators: EBIT rose by 98% to EUR 40.8
million for the first three quarters of 2007, and the property
portfolio grew to EUR 755.5 million following the acquisition of
selected properties.

Revenues and earnings improved significantly during the first three
quarters of 2007. Rental income rose by 36% year-on-year to EUR 35.8
million. This sound development was based above all on organic
effects and new rentals in the existing portfolio as well as
acquisitions in Austria and Germany. The sale of properties as part
of trading activities generated a gain of EUR 6.0 million (1-9/2006:
EUR 1.5 mill.). The profit margin equalled roughly 15% based on the
latest recorded values. The adjustment of the property portfolio to
reflect fair value in accordance with IFRS contributed EUR 13.5
million to earnings. These revaluations resulted above all from
specially designed measures as part of the Group´s asset management
activities as well as an increase in the market values of objects in
attractive locations, and totalled roughly 2% of investment property.

This favourable development led to an improvement of 98% in operating
profit (EBT) to EUR 40.8 million. Profit before tax (EBT) increased
126% to EUR 27.3 million. Profit for the year (after minority
interest) rose to EUR 20.1 million, for an increase of 120% over the
comparable prior year period. Funds from operations (FFO) equalled
EUR 13.4 million, compared with EUR 9.0 million for the first three
quarters of 2006. Earnings per share for the reporting period rose
from EUR 0.52 to EUR 0.73.

Net asset value (NAV) increased 5.5% within a single year to EUR
12.04 per share. Since 2004 NAV per share has risen by an average of
5.8% per year.

ECO not only expanded its property portfolio throughout the first
three quarters of 2007, but also improved the attractiveness of the
individual objects through active management. In the current market
environment ECO has taken an extremely cautious approach to
acquisitions, in order to make optimal use of liquidity shortages
experienced by other market participants as a result of the financial
market crisis.

As of 30 September 2007 the property portfolio comprised 113 objects
with a total value of EUR 755.5 million, which reflects an increase
of EUR 57.2 million since the end of 2006. Within one year, the value
of the property portfolio has grown by EUR 103.6 million. The total
rentable space in the portfolio rose to approx. 481,200 m².

Sales from the trading portfolio also generated sound gains: 20
properties, one development project and five apartments with a
combined value of approx. EUR 38.2 million were sold at a profit
during the first nine months of 2007.

ECO plans further investments in the core markets of Austria and
Germany as well as the CEE region during the last three months of
2007. The value of the portfolio including current development
projects should increase to more than EUR 1 billion within the near
future in relation to the acquisition projects currently under
negotiation.

The Management Board of ECO expects a significant improvement in
revenues and earnings over the previous year as a result of the sound
development of business during the first nine months of 2007 as well
as attractive investment opportunities and the further potential for
an increase in the value of the existing portfolio.

Company Data in TEUR (in accordance with IFRS)

01-09/2007 01-09/2006 01-12/2006

Rental revenues 35,818 26,370 38,803
Thereof rental income 29,369 22,498 32,129
Gain on the disposal
of non-current assets 5,973 1,492 9,819
Changes in the fair value
of investment property 13,487 2,944 6,067
Operating profit (EBIT) 40,833 20,602 38,280
Profit before tax (EBT 27,303 12,107 24,739
Profit for the year
(after minority interest) 20,149 9,178 17,900
Earnings per share (EUR) 0.73 0.52 0.99
Average number
of shares outstanding 34,100,000 22,500,000 25,000,000
Cash flow from
operating activities 2,271 -1,651 1,533
FFO (funds from operations) *) 13,379 9,048 16,957
NAV per share (EUR) 12.04 11.41 11.79

*) Profit before tax + depreciation and amortisation +/- fair value
adjustments - income tax payments

Property Data

01-09/2007 01-09/2006 01-12/2006

Number of objects 113 146 126
Thereof investment portfolio 60 68 54
Thereof trading portfolio 52 77 71
Thereof CEE portfolio 1 1 1
Total rentable space in m² * 481,200 444,700 463,400
Thereof trading portfolio 46,500 44,200 57,400
Garage spaces (number) 2,432 1,977 2,339
Thereof trading portfolio 291 199 289
Property portfolio (in TEUR) 755,412 650,841 697,223
Thereof properties
under construction 30,488 0 3,892
Thereof trading portfolio 61,803 73,885 94,445

* Garage spaces were included at 20m² each.

ECO has advanced the announcement of key data on the first three
quarters of 2007 from 23 November to today, 16 November 2007, because
of discussions with investors. The full report on the third quarter
of 2007 will be published as planned on 23 November 2007 and will
also be available under www.eco-immo.at as of this same date.

end of announcement euro adhoc 16.11.2007 08:17:50
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ots Originaltext: ECO Business-Immobilien AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
ECO Business-Immobilien AG
Friedrich Scheck, Chairman of the Management Board
Tel +43 1 535 21 99
E scheck@eco-immo.at

Hochegger|Financials
Roland Mayrl
Tel +43 1 504 69 87-31
E r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Prime.market
Börsen: Wiener Börse AG / Regulated free trade