InCity management board commits to further share lock-up

- Lock-up extended by 36 months

- Buy-back programme approved by AGM launched

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

companies

Cologne (euro adhoc) - 22 December 2008 - InCity Immobilien AG, a
group of companies specialised in the planning and realisation of
high-quality properties in inner city locations, has decided to
support the InCity share price and is committed to making a clear
statement of trust, especially to its long-term investors. "Our share
has performed considerably better than the relevant indexes in the
past few months. But on the whole, InCity's market capitalisation
fails to reflect the intrinsic value of the company and its expected
future development," explains Management Board member André Peto.

Against this backdrop, the InCity management, which holds about
two-thirds of the shares, has committed to extending the lock-up
agreement for the coming 36 months, which applies to the majority of
the shares it holds. In addition to that, the company has started
selectively buying back shares in line with the share buy-back
programme approved by the AGM on 8 May 2008. According to that, the
company is entitled to buy back up to 250,000 shares until 7 November
2009.

André Peto: "The measures we have taken support the long-term
increase in the value of our company. This is based on the extremely
dynamic and positive business development the company has seen since
inception, which also applies to 2008. Despite a downturn in the
market our business model stood its ground. We are also going to be
showing this resilience against crisis in 2009."

About InCity Immobilien AG: InCity Immobilien AG specialises in the
planning and realisation of high-quality property in inner city
locations. The company develops and markets both residential and
retail properties using its inhouse expertise to minimise project
running time and to deliver high value added in the process. InCity
pools the experience accumulated through about 250 high-quality
heritage building redevelopment and new building projects for
discerning self-users and investors. The company creates exclusive,
high-value space tailored to customers' needs in top locations of
German metropolitan areas. InCity underlines its corporate
responsibility towards society and the environment through
participation in the UN Global Compact, the international initiative
of the United Nations for the promotion of social and environmental
principles. Further information: www.incity.ag

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

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