EANS-Adhoc: AIRE GmbH & Co. KGaA: Agreements With AIG Group Companies to Reduce Advisory Services Costs and to Secure a Credit Facility

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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14.06.2011

Frankfurt am Main, June 14, 2011 - Today AIRE GmbH & Co. KGaA (the
"Company") entered into an agreement in principle with AIG Asset
Management (U.S.) LLC (the "Advisor") to reduce by 50% the management
fee charged to the Company by the Advisor. Based on its 2010
financial results, the Company expects to achieve an initial savings
of approximately EUR 650,000 on the annual cost of advisory services
in 2011.

The Company also reached an agreement in principle with AIG Global
Real Estate Investment Corp. ("AIG Global Real Estate") to provide a
three-year, USD 25.0 million credit facility to the Company and its
operating subsidiaries upon market terms. The facility will
strengthen the Company´s ability to continue to fund existing
commitments to current investments and funds in which it is an
investor.

The amended agreements with AIG Group Companies are following a
change in the shareholder structure of the company´s managing
shareholder AIG International Real Estate Geschäftsführungs- und
Verwaltungs- GmbH ("AIRE GmbH"). A former 40 % shareholder of AIG
International Real Estate Management GmbH sold its shares to AIG
Global Real Estate so that the ownership interests in AIRE GmbH are
now entirely held by AIG Global Real Estate. AIG Global Real Estate
continues to advise the Company on its investments, almost all of
which are co-investments between the Company and AIG Global Real
Estate and/or other clients of AIG Global Real Estate.

The Company remains focused on realizing optimal value for the
Company´s investment portfolio in light of the challenges faced by
the global financial markets over the last three years. Given the
recent illiquid state of global real estate markets and limited
availability of capital resources from qualified lenders, it remains
difficult to forecast the size and timing of cash flows.

However, the Company continues to pursue its goal of returning cash
to shareholders from the timely realization of its existing
investments, after reserving for existing commitments, ongoing
operating expenses and the potential need for additional capital
contributions to existing holdings.

Further inquiry note:
AIRE GmbH & Co. KGaA
Ulrich W. Reinholdt
Phone: +49 (0)69 9711 3200

end of announcement euro adhoc
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issuer: AIRE GmbH & Co. KGaA
Speicherstrasse 55
D-60327 Frankfurt am Main
phone: +49 (0)69 9711 3225
FAX: +49 (0)69 9711 3204
mail: info@aig-ire.de
WWW: http://www.aig-ire.de
sector: Financial & Business Services
ISIN: DE0006344211
indexes: CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English