euro adhoc: Vivacon AG / Financing, Stock Offerings (IPO) / VIVACON AG: Successful placing of ground lease receivables with a total volume of EUR 117.5m

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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22.12.2006

Cologne, 22nd December 2006. VIVACON AG (ISIN 000604 8911) today
successfully placed a further securitization of ground lease
receivables from its portfolio on the capital market. The issue
volume amounts to EUR 117.5m. The securitized ground lease
receivables relate to 10,934 residential and commercial units. Ground
lease receivables belonging to the Joint Venture with Forum Partners
are included in the securitization. The Forum Partners Joint Venture
will receive approximately EUR 20m of the issue proceeds.

Fitch rated the complete transaction with Aaa. Moody’s rated the
senior tranche, which amounts to 65%, at Aaa and the remaining junior
tranche at Aa3. The transaction was placed with institutional
Investors in Germany within hours.

UniCredit Markets & Investmentbanking has also structured VIVACON's
second securitization and placed the commercial mortgage backed
securities (CMBS) as sole book runner in the capital market. The
expected maturity amounts to 7 years with a legal final maturity of
13 years. The proceeds will mainly be used to further expand the
portfolio trading business.

end of announcement euro adhoc 22.12.2006 10:11:58
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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Lars Schriewer
Director Communication
Tel: + 49 221 / 1305621 631
Lars.Schriewer@vivacon.de

Sven Annutsch
Head Corporate Finance
Tel: + 49 221 / 1305621 630
Sven.Annutsch@vivacon.de

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 1305621 950
http://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