euro adhoc: Warimpex Finanz- und Beteiligungs AG / Financial Figures/Balance Sheet / Despite plunging real estate stock prices, Warimpex posts a dynamic operating result for H1 2008

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6-month report

28.08.2008

Despite plunging real estate stock prices, Warimpex posts a dynamic
operating result for H1 2008

. Revenues up 25% to EUR 44.3 million
. 63% in increase in EBITDA to EUR 22 million and EBIT up 76% to EUR 15.8
million, thanks to higher gains on property sales
. NNNAV per share of EUR 9.5

|Key figures(in EUR |H1 2008 |H1 2007 |Change |
|million) | | | |
| | | | |
|Revenues |44.3 |35.4 |+25% |
|Gains from the sale of |9.6 |2.3 |+312% |
|project companies | | | |
|EBITDA |22 |13.5 |+63% |
|EBIT |15.8 |8.9 |+76% |
|Profit for the period |3.1 |5.5 |-45% |
|Earnings per share in |0.09 |0.16 |-44% |
|EUR* | | | |
| | | | |
| |30.6.2008|31.12.200| |
| | |7 | |
|Gross Asset Value (GAV) |636.4 |614.8 |+4% |
|Triple Net Asset Value |341.4 |387.4 |-12% |
|(NNNAV) | | | |
|NNNAV per share in EUR |9.5 |10.8 |-12% |

*) calculated based on the average number of shares in the period (H1 2007: 35
million; H1 2008: 36 million)

Compared to the first six months of 2007, revenues increased by 25%, rising
from EUR 35.4 million to EUR 44.3 million. EBITDA rose 63% from EUR 13.5
million to EUR 22.0 million, while EBIT amounted to EUR 15.8 million, compared
to EUR 8.9 million for the same period of the previous year. This increase is
mainly due to the higher revenues realised on the sale of real estate and real
estate development projects. While revenues from the sale of project companies
amounted to EUR 2.3 million in H1 2007, a result of EUR 9.6 million was
registered for the same period of 2008. This increase resulted from the sale of
a 10% stake in Airportcity St. Petersburg. The profit for the period decreased
from EUR 5.5 million to EUR 3.1 million, due to deterioration in the financial
result.

Real estate assets As of 30 June 2008, Warimpex's real estate
portfolio consisted of 17 hotels and 7 office buildings. The number
of rooms increased by 553 to 2,562 (adjusted for proportional share
of ownership). Above and beyond this, there are currently 14
projects at an advanced stage or under construction.

Compared to 31 December 2007, the estimated real estate value
declined, due to significant increases in yields in CEE and higher
construction costs, which led to a reduction in the NNNAV. As of 30
June 2008, NNNAV amounted to EUR 9.5 and was thus some 12% lower
than at year-end, but still well above the current stock market
price of the share.

Outlook By Q2 2009, two andel's and three angelo hotels are scheduled
to be opened in various markets. Further expansion of the
hotel brands in secondary metropolitan areas is under
evaluation. Within the framework of the joint venture with
Louvre Hotels, more properties are to be acquired so that the
first joint Budget hotels can be opened in early 2010. In the coming
months, the Warimpex Group will continue to focus on the projects
under construction and development, with an eye to further
reinforcing its market position on its domestic markets.

end of announcement euro adhoc
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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Warimpex Finanz- und Beteiligungs AG

Phone: +43 1 310 55 00

Christoph Salzer

mailto:presse@warimpex.com

Daniel Folian, mailto:investor.relations@warimpex.com

www.warimpex.com

Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market