InCity Immobilien AG and Primus Immobilien AG realise joint project in top Berlin location

- Building of 35 new residential units directly on the
Winterfeldtplatz in Berlin-Schöneberg
- Overall sales volume of
around 13.5 million EUR
- Sales expected to begin in October 2008,
completion planned for mid 2010

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real estate

Cologne (euro adhoc) - 9 September 2008 - InCity Immobilien AG, a
group of companies specialised in the planning and realisation of
high-quality properties in central urban locations, has acquired real
estate in an attractive location in Berlin-Schöneberg together with
its Berlin Partner, Primus Immobilien AG. The companies are planning
to erect three new buildings with a total of 35 residential units as
well as parking spaces on the undeveloped real estate at
Winterfeldtstrasse 61-63, directly on the Winterfeldtplatz. Planning
permission for the envisaged three buildings, each with seven
storeys, has already been granted. Following completion, which is
planned for mid 2010, the object will comprise total useful floor
space of nearly 3,900 sqm with an overall sales volume of around 13.5
million EUR.

"We have obtained this project in one of Berlin's top locations
together with our Berlin Partner. Situated directly on the popular
Winterfeldtplatz and with excellent shopping facilities as well as
numerous cafes and restaurants in the immediate vicinity, we shall
create exclusive and high-value residential space here for discerning
self-users and investors", explains InCity Managing Board member
Klaus Prokop.

Franz-Josef Marxen, member of the Managing Board of Primus Immobilien
AG: We are looking forward to realising this highly attractive
project at a top Berlin inner-city location together with InCity
Immobilien AG. We wish to start sales next month. We have already
successfully carried out numerous projects together with InCity in
the past."

About InCity Immobilien AG: InCity Immobilien AG specialises in the
planning and realisation of high-quality property in central urban
locations and enriches the residential spectrum by the "lifestyle"
aspect for a clientele with a high purchasing power. InCity pools the
experience accumulated through over 200 high-quality old building
redevelopment and new building projects for discerning self-users and
investors. The company creates exclusive, high-value residential
space tailored to customers' wishes in top locations of German
metropolitan areas. With the focus on the regions Cologne/Bonn,
Berlin and Weimar/Erfurt as well as Rhine-Main, InCity caters to the
rapidly rising demand from highly solvent target groups for urban
quality of life in the city centres of German growth regions. For
more information: www.incity.ag

end of announcement euro adhoc
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ots Originaltext: InCity Immobilien AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

InCity Immobilien AG

André Peto

Phone: +49 (0) 221 95 27 57 55

a.peto@incity.ag

Investor Relations

Dariusch Manssuri

Phone: +49 (0) 221 91 40 970

dariusch.manssuri@ir-on.com

Branche: Real Estate
ISIN: DE000A0HNF96
WKN: A0HNF9
Börsen: Börse Frankfurt / free trade/entry standard
Börse Berlin / free trade