euro adhoc: Vivacon AG / other / VIVACON AG increases EBIT by 35% yoy to EUR 17.1m in Q2 2008

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

6-month report

14.08.2008

VIVACON AG (ISIN DE0006048911) generated revenues of EUR 39.5m in Q2
2008, which was an increase of 20% in comparison to the second
quarter of the previous year. Transaction volume declined to EUR
108.8m (Q2 2007: EUR 262.6m). In total, Vivacon sold 2,410
residential units to private and institutional investors in Q2 2008.

In Q2 2008, EBIT improved by 35% yoy to EUR 17.1m (Q2 2007: 12.7m)
and EBT reached EUR 9.7m following EUR 15.0m in Q2 of the previous
year. The market valuation of the hedging instruments (inflation and
interest swaps) influenced the quarterly EBT positively by an amount
of EUR 0.6m (Q2 2007: EUR +2.9m). Net income amounted to EUR 5.8m
following EUR 11.7m in Q2 2007.

Earnings per share (undiluted) amount to EUR 0.29 in Q2 2008 (Q2
2007: EUR 0.60). Order backlog at the end of June 2008 amounted to
EUR 77.5m following EUR 122.9m at the end of June 2007.

Vivacon acquired a number of ground lease portfolios in several
transactions with an annual ground lease cash flow of approximately
EUR 2.0m. In a portfolio transaction, another ground lease cash flow
in the amount of EUR 0.86m was generated. The amount of initial
annual ground lease cash flows amounts to approximately EUR 16.2m as
at June 30th (30.06.2007: EUR 10.7m), of which 40% were generated in
direct ground lease cash flow acquisitions.

The further acquisition of ground lease portfolios is a central focus
of operating activities. Vivacon plans to acquire annual ground lease
cash flows of up to EUR 10m in the current year and expects to
achieve its full year guidance even without further significant
portfolio trading activities. The management confirms its
communicated full year net income guidance of EUR 60m.

end of announcement euro adhoc
--------------------------------------------------------------------------------

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

Further inquiry note:

Sven Annutsch

Head Investor Relations & Corporate Finance

Tel: + 49 221 130 5621 630

Sven.Annutsch@vivacon.de

Vivacon AG

Bayenthalgürtel 4

50968 Köln

Fax: + 49 221 / 130 5621 950

www.vivacon.de

Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: SDAX, CDAX, Classic All Share, Prime All Share, DAX
International 100
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing