euro adhoc: conwert Immobilien Invest SE / Financial Figures/Balance Sheet / conwert with strong operating development in the financial year 2007

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31.03.2008

ADHOC DISCLOSURE | 31.03.2008

conwert with strong operating development in the financial year 2007

+ Record levels for all financial indicators 2007: Revenues EUR
363.11 million (+37 %), EBIT EUR 172.53 million (+65 %) + Cash
inflows (FFO after financial results) up 65 % to EUR 62.41 million +
Organic growth of rental income by 10 % in like-for-like portfolio +
Property assets expanded by 40 % to EUR 2.35 billion, Net asset value
(NAV)/share +12 % to EUR 16.25 + Excellent financing structure with
48 % equity and low interest on borrowed capital (average: 5.2 %) +
Organic growth in property investments and property services

Vienna, 31 March 2008. conwert Immobilien Invest SE, which is listed
on the Vienna Stock Exchange, completed the financial year 2007 with
record levels for all company indicators.

The conwert property indicators showed a significant improvement:
property assets rose 40 % to EUR 2.35 billion, total usable space to
1,896,900 sqm (2006: 1,322,400 sqm). At the end of the financial
year, the property portfolio comprised 1,590 properties with 23,283
rental units and 6,832 parking spaces, following 981 properties with
15,376 rental units and 4,298 parking spaces in the previous year.

+ Strong development of rental income and proceeds on sale Rental
income rose by 38 % to EUR 109.49 million. The strong performance in
the area of rental income is reflected above all in a like-for-like
analysis of the divisions primarily keyed to letting (analyses based
on an unchanged property portfolio at year-end 2006): In this
unchanged portfolio, rental income grew 10 %.

Proceeds from the sale of properties were up 36 % to EUR 252.47
million. The profit from the sale of properties amounted to EUR 38.78
million compared to the IFRS values, on a cash basis in comparison to
acquisition cost even to EUR 53.86 million. Profit margin was 18 % on
the revalued IFRS amounts and 27 % cash margin on acquisition costs.

Total revenues increased by 37 % to EUR 363.11 million.

+ Record earnings figures The operating result (EBIT) rose by 65 % to
EUR 172.53 million. At EUR 97.84 million, the revaluation of property
assets totalled 4.2 % in the financial year 2007. Since foundation of
the company, the cumulative net revaluation of the current portfolio
totalled to EUR 109.27 million.

Despite a significantly higher financing volume the financial
results, at EUR -27.37 million (2006: EUR -27.39 million), remained
largely unchanged so that the earnings before taxes (EBT) increased
by 88 % to EUR 145.15 million. Profit for the year after minority
interests rose by 122 % to EUR 114.93 million.

conwert significantly increased earnings, in particular also on a
cash basis, in comparison with the previous year. Funds from
operations (FFO after financial results), which do not take into
account revaluation gains on an EBT basis, were up 65 % to EUR 62.41
million*. Cash profit, which as net cash earnings deducts actual
income taxes paid from FFO, rose to EUR 60.10 million, up 60 % on the
figure of the previous year.

+ 48 % Equity ratio and 12 % NAV increase The equity of conwert was
increased to EUR 1,407 million. The equity ratio was 48 % at the
balance sheet date. The average interest rate on non-current
liabilities amounted to 5.2 % in the financial year 2007.

The net asset value (NAV) per share also developed very positively,
rising 12 % to EUR 16.25 per share in 12 months. The adjusted NAV per
share, which also takes into account hidden reserves in the property
portfolio and deferred taxes, equalled EUR 20.78 per share (2006: EUR
19.19 per share).

+ Growth strategy continued With the strategic repositioning in 2007,
conwert set the course for further, organic growth. In the investment
segment of business, conwert will continue to expand its property
portfolio in Austria, Germany and the CEE region through selective
acquisition and increase the value through modernisation and
development measures. The ongoing trading activities will also
generate attractive cash flows in the future and strengthen the
internal financing power for further projects in the long term.
Activities in the property service segment will concentrate on the
integration of the newly acquired companies and realisation of
synergies and cost savings as well as the expansion of business with
external customers. Plans call for an increase in the property
portfolio to approx. EUR 2.5 - 2.6 billion during 2008 as well as
growth of roughly 10 - 15 % from property services.

conwert has sufficient funds to finance these planned projects. Both
the investment segment and the service segment will make a positive
contribution to the revenue and earnings development so that conwert
expect earnings figures to significantly exceed those of the previous
year. Based on this development, conwert expects a further increase
in the substance value of the company as in previous years.

* The calculation of funds from operations (FFO) was changed in
annual reporting in order to provide a better presentation of the
actual cash earnings of conwert: previously, the calculation of FFO
was based on EBIT (i.e. before financial results), whereas it is
based on EBT now (i.e. after financial results). Therefore, the value
shown is not comparable to the figures of the quarterly reports 2007.
Comparable FFO before financial results amounted to EUR 89.78 million
in 2007 (2006: EUR 65.14 million).

Key Company Figures
2007 2006 Change
Rental income EUR mill. 109.49 79.54 38 %
Proceeds from the sale
of properties EUR mill. 252.47 185.46 36 %
Other revenues EUR mill. 1.16 - -
Revenues EUR mill. 363.11 265.00 37 %
EBITDA EUR mill. 75.53 59.18 28 %
Earnings before interest
and tax (EBIT) EUR mill. 172.53 104.42 65 %
FFO (Funds from Operations)** EUR mill. 62.41 37.75 65 %
Cash Profit*** EUR mill. 60.10 37.61 60 %
Equity EUR mill. 1,407.25 857.99 64 %
Equity ratio % 47.7 44.6 7 %
Gearing % 85.8 94.7 9 %

Key Property Figures
Number of objects No. 1,590 981 62 %
Rental units No. 23,283 15,376 51 %
Parking spaces No. 6,832 4,298 59 %
Total usable space sqm 1,896,898 1,322,412 43 %
Property assets EUR mill. 2,345.25 1,673.37 40 %

Key Stock Exchange Figures
Basic earnings/share EUR 1.46 0.97 51 %
Diluted earnings/share EUR 1.44 0.97 48 %
Adjusted earnings/share**** EUR 1.82 1.44 26 %
Book value/share EUR 16.25 14.49 12 %
Adjusted NAV/share***** EUR 20.78 19.19 8 %
Funds from Operations/share EUR 0.79 0.71 11 %
Price/earnings ratio Year-end 8.23 16.91 51 %
Price / adjusted earnings ratio Year-end 6.62 11.39 42 %

** FFO: EBT - net gain on the adjustment of fair value + cashgains on the sale
of properties in relation to IFRS gains on sale
*** Cash Profit: FFO after the deduction of actual income taxes paid
**** Earnings per share only taking into account actual income taxes paid
***** Book value per share including hidden reserves in the property portfolio
and deferred taxes

end of announcement euro adhoc
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ots Originaltext: conwert Immobilien Invest SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

conwert Immobilien Invest SE, Johann Kowar, Chairman of the Executive Board,

T +43 / 1 / 521 45-200, E kowar@conwert.at

Hochegger|Financials, Roland Mayrl, T +43 / 1 / 504 69 87-31,

E r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000697750
WKN: 069775
Index: WBI
Börsen: Wiener Börse AG / official dealing