euro adhoc: Vivacon AG / other / Vivacon AG: IPO of Vivacon German Properties PLC postponed

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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23.06.2006

Cologne, 23 June 2006. Vivacon AG (ISIN DE0006048911) announces that
the planned IPO of Vivacon German Properties PLC has been postponed
due to the unsatisfactory market environment for IPOs currently.

Despite substantial interest from international investors for the
investment case of Vivacon German Properties PLC, demand at the end
of the bookbuilding phase was not sufficient for a successful listing
in the short term. The management of both companies has therefore
decided to postpone the IPO until a point in time when the market
environment for IPOs is more favourable.

The two portfolios which have been reserved for Vivacon German
Properties PLC with a combined size of 4,800 residential units will
be sold on to an institutional investor on leasehold terms in the
short term.

Vivacon will continue to run its successful business model of
marketing residential portfolios under leasehold terms which it
pioneered ten years ago. The postponement of the IPO is not expected
to have a negative impact on the full-year guidance of Vivacon AG as
margins in the property trading business with third parties remain at
a consistently high level and trading gains should more than
compensate for any short term reduction in asset management fee
income. The management of Vivacon AG continues to expect to trade at
least 15,000 residential units in the full year 2006.

end of announcement euro adhoc 23.06.2006 10:37:47
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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
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