euro adhoc: CA Immobilien Anlagen Aktiengesellschaft / Earnings Forecast / CA Immobilien Anlagen AG publishes preliminary results for 2008

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02.03.2009

Result for 2008 impacted by property valuation

Interim results for 2008

. Rental income rises by 42%, EBITDA up 52 %
. Contribution to result from property sales increases to EUR 30 m
. Revaluation losses and impairments of properties amount to -7% of
property assets
. EBIT down to EUR -153 m
. NAV/share as of 31.12.2008: EUR 18,9

Vienna, 2 March 2009. The preliminary results for 2008 show positive
operational developments counterbalanced by significant revaluation
losses and impairments of property assets. The clear increase in
EBITDA to EUR 137.8 m (+ 52%) was a product of an increase of 42 % in
rental income to EUR 175.3 m and, in particular, a jump in the
contribution of property sales to the result to EUR 30.5 m. This was
counterbalanced by impairments and a negative revaluation result
amounting to a total of EUR -285.6m. The correction to the value of
property assets of approximately -7 % reflects the present
unfavourable climate on the European property market. Gross yields
(annualised actual rental income in relation to current book values)
for the income producing properties now stand at around 5.9 % in
Germany, 6.1 % in Austria and 7.3 % in (South-) Eastern Europe. As a
result of the valuation losses, the preliminary operating result
(EBIT) stands at EUR -152.6 m. The financial result for 2008 of EUR
-142.8 m reflects higher financing costs of EUR -105.1 m and, amongst
other things, a negative valuation result for interest rate hedges
and impairments of participations and financial investments posted in
the fourth quarter of 2008. Preliminary net income before taxes was
EUR -295.4 m, with preliminary consolidated net income after
minorities at EUR -237.1 m. As of 31 December 2008, financial
liabilities stood at EUR 1,923.7 m, most of which with a long term
duration - only EUR 88.9 m had a remaining term of less than one
year. These liabilities are counterbalanced by property assets of
around EUR 3.8 bn and cash of EUR 321.4 m. The revaluations have no
effects on existing financing agreements. The equity ratio amounts to
42%. As a consequence of the valuation result, the net asset value
(NAV) per share declined by 14 % to EUR 18.9. No dividend will be
distributed in the light of the negative annual result. In 2009, the
operational focus of CA Immo will be on measures aimed at upholding
and improving operational cash flow; in particular, this will mean
consistent cost reduction and proactive steps to prevent vacancy.
Another priority will be the realisation of those development
projects that have a long-term strategic significance, such as the
flagship Europaviertel project in Frankfurt. Dr. Bruno Ettenauer,
speaker of the board of CA Immo: "The revaluation losses for 2008 are
the result of a valuation of our property portfolio that reflects
market realities. Although the annual result is disappointing, the CA
Immo Group still has a stable asset and financing structure that
provides a solid foundation on which we can succeed even in the
challenging environment that currently faces us." Final detailed
results for the business year 2008 will be published on 24 March
2009.

|Preliminary results for 2008 |
| |2008 |2007 |
| |EUR m |EUR m |
|Rental income |175.3 |123.3 |
|EBITDA |137.8 |90.7 |
|Impairments/Revaluations |(285.6) |63.0 |
|EBIT |(152.6) |151.5 |
|Financial result |(142.8) |(45.3) |
|Net income before taxes |(295.4) |106.2 |
|Consolidated net income |(237.1) |52.1 |
|after minorities | | |
| | | |
|NAV per share (in EUR) |18.9 |22.0 |
| | | |

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

Further inquiry note:

CA Immobilien Anlagen AG

Investor Relations

Florian Nowotny

Claudia Hainz

Tel.: +43/1/532 59 07-593

eMail: ir@caimmoag.com

www.caimmoag.com

Branche: Real Estate
ISIN: AT0000641352
WKN: 064135
Index: Immobilien-ATX
Börsen: Wiener Börse AG / official market