euro adhoc: ECO Business-Immobilien AG / quarterly or semiannual financial statement / ECO Business-Immobilien AG: successful trend in Q1 2007

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22.05.2007

ECO Business-Immobilien AG: successful trend in Q1 2007

Vienna, 22 May 2007. ECO Business-Immobilien AG, listed in the Prime
Market of the Vienna Stock Exchange, continued its successful
corporate development in the first quarter of 2007. Record figures
were posted for all sales and earnings ratios. EBIT was increased
257% to EUR 11.79 million. As of the reporting date, property assets
totalled EUR 698 million. The current acquisition pipeline of over
EUR 800 million will allow the Company to continue its growth.

New records for sales and earnings ratios With the expansion of the
real estate portfolio, new records were achieved for all sales and
earnings ratios in the reporting quarter. Against the first quarter
of 2006, rental income increased by 85% to EUR 11.52 million. EBIT
thus rose to EUR 11.79 million, a year-on-year increase of 257%. In
addition to higher rental income as a result of increased rentable
space, disposable gains from real estate sales in the trading
portfolio of EUR 2.29 million (Q1/2006: EUR 0.0 million) and
revaluation gains contributed to the strong earnings surge. The
revaluation gains for IFRS valuation totalled EUR 2.41 million
(Q1/2006: EUR 0.0 million) or 0.35% of total real estate assets.
Quarterly earnings per share improved from EUR 0.11 in the
previous-year period to the current figure of EUR 0.23.

Within a year, real estate assets increased from approximately EUR
390 million at the end of the first quarter of 2006 to approximately
EUR 698 million. In the first quarter of 2007, trading activities
resulted in real estate worth EUR 15.3 million being sold at a
profit.

Expansion of real estate portfolio planned The market for business
real estate continues to offer ECO major opportunities, which the
Company intends to leverage, not just in its core markets of Austria
and Germany, but also in the CEE countries. ECO currently has an
acquisition pipeline exceeding EUR 800 million, something which will
be systematically implemented over the next 12-18 months. A large
position is to be developed, especially in the CEE area. Here ECO
will proceed on a very selective basis, only investing in properties
which either increase overall Company income on a sustained basis or
which can be sold on at a profit from the trading portfolio.

With an equity ratio of 42%, ECO has a good basis for growth
activities. To finance all acquisitions, today's Annual General
Meeting is also to vote to approve a capital increase of up to 20
million new shares.

Business segments As part of its expansion strategy, ECO has clearly
detailed the segmentation of its business areas in line with the
business characteristics of the individual segments and markets and
thus the risk-return profile into the "Hold Portfolio", "Trading
Portfolio" and "CEE Portfolio". The Hold Portfolio is the core
business focusing on collateral and assets, covering the home markets
of Austria and Germany. The trading activities which make a decisive
contribution to optimising the portfolio and profits are posted to
the Trading Portfolio business segment. The Eastern European growth
markets are in the CEE Portfolio where the acquisition pipeline
already has a total volume exceeding EUR 550 million; here
investments are made via the ECO Eastern Europe Real Estate AG
subsidiary.

The development of the Company in the opening months of 2007 combined
with the attractive acquisition pipeline leads the Board of
Management to anticipate the ongoing positive development of ECO in
financial 2007.

Company data (EUR thousand)

1-3/2007 1-3/2006 1-12/2006
Revenues 11,522 6,236 38,803
Changes in fair value of investment property 2,410 0 6,068
Gain on disposal of non-current assets 2,292 0 9,819
Operating profit (EBIT) 11,785 3,307 38,280
Profit before tax (EBT) 7,417 2,235 24,739
Profit for the year 5,694 1,658 18,191
Profit for the year (after minorities) 5,625 1,541 17,900

Earnings per share (EUR) 0.23 0.11 0.99
Average number of shares 25,000,000 13,465,625 17,997,115

Rounding differences could arise as a result of the presentation in EUR
thousand.

Property data

2007-03-31 2006-03-31 2006-12-31
Number of objects 1) 118 60 126
Total rentable space (sqm) 2) 457,643 314,585 463,431
Garage spaces 2,334 1,553 2,339
Property portfolio (EUR `000) 3) 697,532 388,656 697,223

1) incl. Trading Portfolio 2) For garage spaces a conversion factor
of 20 sqm / per space has been used 3) incl. Construction in Progress

You can download this ad hoc disclosure including the abbreviated
consolidated balance sheet and the consolidated income statement on
the website www.eco-immo.at

end of announcement euro adhoc 22.05.2007 08:10:00
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ots Originaltext: ECO Business-Immobilien AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
ECO Business-Immobilien AG, Friedrich Scheck, CEO, Tel.: +43(1)535 21 99, Fax:
+43(1)535 21 99-99, mailto:scheck@eco-immo.at, http://www.eco-immo.at

Hochegger|Financials, Roland Mayrl, T +43 1 504 69 87-31, r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Standard Market Auction
Börsen: Wiener Börse AG / Regulated free trade