euro adhoc: Vivacon AG / other / VIVACON AG: Bookbuilding for VGP PLC planned to begin on Friday 9th June 2006

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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08.06.2006

Cologne, 8th May 2006. VIVACON AG (ISIN DE0006048911) announces that
Isle of Man-based Vivacon German Properties PLC (VGP PLC), of which
VIVACON AG is the sponsor, plans to begin the proposed placement of
shares on Friday, 9th June 2006. The placement, with a total volume
of up to EUR 300 million, will be in the form of a private placement
to institutional investors. Trading on the AIM segment of the London
Stock Exchange is expected to begin before the end of June 2006. The
IPO consortium consists of Credit Suisse and Lehman Brothers as Joint
Bookrunners. In order to ensure a rapid investment of proceeds of the
offer and thus to maximise returns, VGP PLC has decided to target an
IPO volume of up to EUR 300 million.

VGP PLC plans to invest the equity, combined with additional bank
debt, in profitable residential real estate portfolios in Germany. In
order to do this, VGP PLC will rely on the knowledge and expertise of
VIVACON AG. VIVACON AG will offer VGP PLC residential real estate
portfolios in the form of leaseholds, according to its business
model. VIVACON AG has already identified a pipeline of potential
portfolios and expects to offer VGP PLC two portfolios with a total
volume of approximately EUR 184 million directly following Admission.

Vivacon Real Estate Management GmbH, a fully-owned subsidiary of
VIVACON AG, has been appointed as asset manager to VGP PLC. Moreover,
VIVACON AG intends to invest in 10% of the share capital of VGP PLC
in the IPO. Through its investment, VIVACON AG will receive potential
future dividends as a shareholder alongside the recurring asset
management fees earned through its subsidiary, Vivacon Real Estate
Management GmbH, both of which will contribute to greater earnings
visibility in the future.

Furthermore, VIVACON AG announces that the partnership with the North
American pension fund which was announced in 2005 has been terminated
amicably by mutual consent.

Not for distribution in the United States, Canada, Australia, Japan,
France or Italy

This document does not constitute an offer for sale of shares,
neither in the United States, nor any other jurisdiction. The shares
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended or under the securities laws of the
individual states of the United States and must not be offered or
sold in or be delivered to the United States. It is not intended to
register the offering or any part thereof in the United States or to
conduct a public offering in the United States.

end of announcement euro adhoc 08.06.2006 07:06:37
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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
For further Information:
Sven Annutsch
Head of Corporate Finance
Tel: + 49 221 130 5621 630
Sven.Annutsch@vivacon.de

Lars Schriewer
Director Communication
Tel: + 49 221 130 5621 631
Lars.Schriewer@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: 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