euro adhoc: ECO Business-Immobilien AG / quarterly or semiannual financial statement / ECO Business-Immobilien AG with record half-year: rental revenues +74%, EBIT +143% to EUR 25.7 mill.

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
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24.08.2007

ECO Business-Immobilien AG with record half-year: rental revenues
+74%, EBIT +143% to EUR 25.7 mill.

Vienna, 24 August 2007. ECO Business-Immobilien AG, which is listed
in the Prime Market segment of the Vienna Stock Exchange, set new
records for revenues and earnings and also continued the selective
expansion of its business activities during the first half of 2007.
Rental revenues rose by 74% to EUR 23.4 million and earnings before
interest and taxes (EBIT) improved by 143% to EUR 25.7 million. The
acquisition of high-quality properties in the company´s core markets
of Austria and Germany increased the property portfolio to a total of
EUR 739.1 million.

The favourable development of financial indicators was supported by
an increase in the space owned by the company and the subsequent rise
in rental income as well as the steady optimisation of the properties
in the portfolio and profits from trading activities (EUR 5.9
million), which generated a sound 23% of EBIT. The adjustment of the
property portfolio to reflect fair value in accordance with IFRS made
a contribution of EUR 5.5 million (or 0.8% of the investment
portfolio) to the growth in earnings.

Profit before tax (EBT) rose from EUR 6.8 million to EUR 16.9
million, for an increase of 149%. Income tax expense totalled EUR 4.3
million for the reporting period, whereby this item was comprised
primarily of deferred taxes and only EUR 0.4 million represented cash
outflows. Profit for the period (after minority interest) increased
to EUR 12.6 million, which represents an improvement of 163% over the
first six months of the previous year. Earnings per share rose by 65%
to EUR 0.51 for the reporting period, despite a substantial increase
in the number of shares outstanding.

Selective expansion of the property portfolio

ECO expanded its property portfolio through the acquisition of
selected objects during the reporting period. As of 30 June 2007 the
company owned property with a total value of EUR 739.1 million,
compared with EUR 641.4 million at the end of June 2006.

Together with well-known partners, ECO also increased its investments
in development projects. This will place the company in an even
better position to profit from the added potential for an increase in
value and improvement in earnings as well as the many growth
opportunities that are provided by a balanced portfolio strategy.
These development projects have a total investment volume of roughly
EUR 47 million.

ECO also successfully sold a number of objects from the trading
portfolio: 12 properties, one development project and apartments with
a combined value of approx. EUR 36.8 million were sold at a profit
during the first six months of 2007.

Acquisition pipeline and growth financing

The ECO property portfolio is expected to increase to more than EUR 1
billion by the end of this year. Over the coming months investment
opportunities totalling approx. EUR 300 million will be realised on
the company´s core markets in Austria and Germany. The company´s
subsidiary ECO Eastern Europe Real Estate AG also plans to complete
projects with a value of EUR 150 million in the CEE region. The
selective realisation of projects in the investment pipeline will
also lead to a sustainable improvement in the inherent value (NAV) of
the ECO share.

In addition to growth through acquisitions, ECO will also improve its
revenue and earnings indicators by generating attractive cash flows
on its trading activities and through the active management of
objects in the portfolio. Interest rate risk will be minimised by the
company´s strong equity-debt structure, which was exemplified by a
solid equity basis of 47.6% as of 30 June 2007. As an additional
protection against rising interest rates, ECO has also concluded
interest rate hedges that will hold the base interest rates for
roughly two-thirds of the credit volume below an average of 4% per
year over the long-term.

The Management Board expects earnings for the full 12 months of 2007
will exceed the prior figures by a significant amount.

Company Data in TEUR (in accordance with IFRS)

01-06/2007 01-06/2006 01-12/2006
Rental revenues 23,356 13,452 38,803
Thereof rental income 19,276 11,311 32,129
Operating profit (EBIT) 25,685 10,569 38,280
Profit before tax (EBT) 16,853 6,759 24,739
Profit after tax 12,638 4,798 17,900
Cash flow from operating activities 1,379 -1,475 1,533
FFO (Funds from operations)*) 10,966 3,808 16,957

Earnings per share (EUR) 0.51 0.31 0.99
Average number of shares outstanding 25,000,000 15,562,500 17,997,115

*) Profit before tax + depreciation and amortisation +/- fair value adjustments
- income tax payments

Property Data

01-06/2007 01-06/2006 01-12/2006
Number of objects 121 144 126
Thereof investment portfolio 60 66 54
Thereof trading portfolio 60 77 71
Thereof CEE portfolio 1 1 1
Total rentable space in m² *) 482,186 441,779 463,431
Thereof trading portfolio 47,380 46,999 57,444
Garage spaces (number) 2,462 2,427 2,339
Thereof trading portfolio 294 344 289
Property portfolio (in TEUR) 735,499 641,400 697,223
Thereof properties under construction 21,402 0 3,892
Thereof trading portfolio 62,965 73,817 94,445

*)Garage spaces were included at 20m² each

end of announcement euro adhoc 24.08.2007 07:30:00
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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, Tel +43 1 504 69 87-31,
email: r.mayrl@hochegger.com

Branche: Real Estate
ISIN: AT0000617907
WKN: A0D8RY
Index: Prime.market
Börsen: Wiener Börse AG / Regulated free trade