EANS-Adhoc: conwert Immobilien Invest SE / Preliminary overall result for the third quarter at EUR (4.3) million, but operating result significantly above prior-year level

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16.11.2011

Vienna, 16 November 2011. According to preliminary figures, the
Austrian ATX- traded conwert Immobilien Invest SE recorded a
slightly negative result of EUR (4.3) million in the third quarter
of 2011 (previous year 31.4). However, in comparison with the
previous year, the operating result (EBIT) improved
significantly to EUR 19.4 million. As ECO Business Immobilien AG
("ECO") was acquired below book value, a one-off profit of EUR 77.6
million was realised in the comparable quarter of 2010. Otherwise
the quarterly result would have been negative.

The result was characterised by valuation adjustments for ECO
amounting to EUR 12.7 million and by partial write-downs of RESAG
Immobilienmakler GmbH of EUR 3.7 million, which were incurred
in the course of the progressing internalisation of sales
activities in Austria. Through the internalisation of sales,
conwert provides full transparency in this segment as well and
enables the realisation of cost savings in the range of EUR 1.5 - 2.5
million per year.

In addition, valuation adjustments resulting from interest rate
swap write- downs amounting to EUR 4.2 million affected the
quarterly result.

With a view to the reporting period of the first nine months of
2011, the preliminary profit after income taxes amounts of EUR 6.1
million (previous year 45.4 - also characterised by the profit
resulting from the takeover of ECO). According to current
projections, the profit after minority interests amounts to
EUR 3.6 million (previous year 30.5). conwert will publish the final
results for the first three quarters on 23 November 2011.

conwert Immobilien Invest SE adheres to the target results for the
entire year 2011 without change.

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*********** This report contains forward-looking estimates and
statements that were made on the basis of the information available
at this time. Forward-looking statements reflect the point of view
at the time they are made. We would like to point out that the
actual circumstances and, consequently, the actual results realised
at a later date may differ from the forecasts presented in this
report for a variety of reasons.

Further inquiry note:
conwert Immobilien Invest SE,
T +43 / 1 / 521 45-700,
E cw@conwert.at

end of announcement euro adhoc
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issuer: conwert Immobilien Invest SE
Albertgasse 35
A-1080 Wien
phone: 52145-0
FAX: 52145-111
mail: cw@conwert.at
WWW: http://www.conwert.at
sector: Real Estate
ISIN: AT0000697750
indexes: WBI, ATX
stockmarkets: official market: Wien
language: English