euro adhoc: Vivacon AG / quarterly or semiannual financial statement / Vivacon AG strongly builds up revenues and residential portfolio in Q1 2006

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------

15.05.2006

Cologne, 15 May 2006. VIVACON AG (ISIN DE0006048911) has strongly
grown its Private Investor and Institutional Investor business units
in Q1 2006. The Private Investor business unit has experienced it’s
best first quarter since the establishment of the company. Notarized
volume increased by approximately 415%. In the Institutional Investor
business unit (portfolio trading) the company build up it’s largest
residential portfolio ever. More than 4,000 residential units were
acquired in 2006. VIVACON AG had not acquired any residential
portfolios in Q1 2005. The total number of residential units for sale
has now increased to approximately 7,000 residential units. Despite
considerable demand and concrete offers management had decided for
strategic reasons not to sell off any portfolios yet as these units
shall be offered to Vivacon German Properties PLC after its IPO on a
preferential basis and under ground lease terms. A final disposal is
planned for the next few weeks.

In Q1 of 2006 revenues increased to EUR 14.2m, an increase of 238%
against Q1 2005. Main revenue contributor was the Private Investor
business, where revenues grew from EUR 3.3m in Q1 2005 to EUR 9.0m in
Q1 2006, which is an increase of +172%. Earnings were below previous
year results as expected due to portfolio related transaction costs.
EBIT amounted to EUR -1.4m (Q1 2005: EUR 5.7m) and net income was EUR
-2.1m (Q1 2005: EUR 3.1m).

In the Private Investor business notarized volume amounted to EUR
11.9m in Q1 2006 following EUR 2.3m (+ 415 %) in Q1 2005, which was
the best result in company history.

Due its project business characteristics, VIVACON AG’s quarterly
results are generally subject to significant volatility and therefore
no conclusion for the full year results can be derived from any
single quarter. In the last few years over 70% of revenues were
usually generated in Q4.

The company reiterates its full year guidance to trade at least
15,000 units in the portfolio trading business; especially against
the background that 7,000 units have already been prepared for a
disposal.

The management remains very optimistic for the full year to be able
to further increase earnings significantly over the coming months
according to plan, because of the marketing success in the Private
Investor business and the sales potential in the Institutional
Investor business given the continuing high demand.

end of announcement euro adhoc 15.05.2006 07:43:38
--------------------------------------------------------------------------------

ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sven Annutsch
+49 (0) 221 1305621 630
sven.annutsch@vivacon.de

Lars Schriewer
+49 (0) 221 1305621 631
lars.schriewer@vivacon.de

Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: CDAX, SDAX, Prime All Share, Classic All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / official dealing