EANS-News: Fair Value REIT-AG / Fair Value REIT-AG increases total revenues in the first nine months of 2012 and confirms forecast for full year 2012

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quarterly report/9-month report

Subtitle: * Occupancy rate increases to 95.1%, total revenues up by
5% * IFRS consolidated net income of EUR 3.8 million (previous year:
EUR 4.5 million) * Adjusted consolidated net income in accordance
with EPRA / FFO at EUR 4.3 million (+3%) * REIT equity ratio
increases to 52.8%

München (euro adhoc) - November 8, 2012 - Fair Value REIT-AG posted
consolidated total revenues of EUR 10.1 million in the first nine
months of 2012, up some 5% on the total revenues of EUR 9.6 million
recorded in the corresponding period of the previous year. This
increase was the result of leasing successes in both the previous and
current year. The occupancy rate of the properties held by the Group
and its participations increased, proportionate to Fair Value, from
93.8% to 95.1% and is therefore now back on par with the long-term
average of around 95%. The average remaining term of lease agreements
was 5.5 years as of the reporting date on September 30, 2012.

Net rental income amounted to EUR 6.5 million, thereby exceeding the
previous year's total of EUR 6.3 million by 4%. The operating result
for the first nine months came in at EUR 4.0 million, around EUR 0.2
million down on the EUR 4.2 million mark posted in the corresponding
previous year period. This decline mainly resulted from expenses in
connection with the sale of a property.

The financial result from the equity accounted associated companies
before the market valuation of interest rate hedges was almost on par
with the previous year level. After taking into account
liquidity-neutral market value changes to interest rate hedges,
income from participations totalled EUR 4.0 million, down EUR 0.5
million on the corresponding figure in the previous year.

At EUR 3.6 million, net interest expenses increased by around EUR 0.2
million year-on-year. Adjusted for the liquidity-neutral expenses
from the market valuation of interest rate hedges contained within
this figure, this results in net interest expenses of EUR 3.2
million, down 10% on the comparative figure of EUR 3.5 million in the
previous year.

Overall, Fair Value REIT-AG generated consolidated net income
according to IFRS of EUR 3.8 million, or EUR 0.41 per share, in the
first nine months of 2012. The decrease compared to the previous year
figure of EUR 4.5 million or EUR 0.48 per share is due in equal part
to the higher earnings contribution from the market valuation of
interest rate hedges in the previous year period and the expenses
incurred during the year in connection with the sale of a property.

The consolidated net income of the Fair Value Group adjusted for
market valuation changes as well as selling and valuation expenses
(EPRA earnings or FFO) came in at EUR 4.3 million in the first nine
months of 2012, which equates to EUR 0.46 per share and is around 3%
higher than the corresponding figure for the first nine months of
2011.

Group equity as of September 30, 2012, totalled EUR 80.3 million and
was therefore 3.6% up on the mark from December 31, 2011 (EUR 77.5
million). This meant that the balance sheet net asset value per share
in circulation totalled EUR 8.61 per share in the first nine months
of the year (December 31, 2011: EUR 8.31). The equity ratio pursuant
to Paragraph 15 of the German REIT Act increased to 52.8% of
immovable assets (December 31, 2011: 51.0%).

Frank Schaich, CEO of Fair Value REIT-AG, provides an outlook on the
fourth quarter as well as the full year 2012: "With regard to the
fourth quarter, we are anticipating higher rental-related expenses
above the average of the first three quarters of the current
financial year in connection with additional lease agreements. For
the full year 2012, we are anticipating earnings at a slightly higher
level than expected. On the back of this, we are confirming our
forecast and continue to anticipate an adjusted consolidated net
income (EPRA earnings or FFO) of EUR 5.2 million, or EUR 0.56 per
share, for 2012 as a whole."

The Interim Report 1st-3rd Quarter 2012 is now available in the
Financial Reports section of {www.fvreit.de}[HYPERLINK: file:///Dc-
fairvalueServerPresse-MarketingPressemitteilungen2010Corporate%2
0Newswww.fvreit.de].

Selected financial indicators of Fair Value REIT-AG

1/1 - 9/30/2012 1/1 - 9/30/2011
Rental Revenues EUR 8.329 million EUR 7.845 million
EBIT EUR 4.038 million EUR 4.212 million
Result from
equity-accounted investments EUR 4.010 million EUR 4.528 million
IFRS-Consolidated net income EUR 3.783 million EUR 4.518 million
IFRS-EPS EUR 0.41 EUR 0.48
EPRA-Earnings/FFO EUR 4.291 million EUR 4.183 million
EPRA EPS EUR 0.46 EUR 0.45

September 30, 2012 December 31, 2011
Net asset value per share EUR 8.61 EUR 8.31
EPRA-NAV per share EUR 9.61 EUR 9.27
Equity ratio within
the meaning of section 15
of the REIT act 52.8% 51.0%

Corporate Profile

Fair Value REIT-AG, based in Munich, focuses on the acquisition, leasing,
property management and sale of commercial properties in Germany. At the core of
its investment activities are office and retail properties in German regional
centres. Because of its REIT status, Fair Value is exempt from corporation and
trade tax. In addition to investing in real estate directly, Fair Value also
acquires participations in real estate partnerships.

Through direct investments and subsidiaries, Fair Value Group manages
a portfolio of 46 commercial properties with a total leasable floor
space of around 159,500 square metres and a market value of around
EUR 127 million as of September 30, 2012. Fair Value's share of these
investments amounted to around EUR 92 million on the same date.

In addition, Fair Value REIT-AG holds minority interests in six
closed-end real estate partnerships with holdings in 23 commercial
properties with a total leasable floor space of around 269,000 square
metres. As of December 31, 2011, the total market value of these
properties was around EUR 358 million. (Fair Value's share of this
amounted to around EUR 128 million on September 30, 2012).

As of September 30, 2012, Fair Value's share of the total portfolio
amounted to around EUR 220 million. This portfolio had an occupancy
rate of 95.1% of the achievable rents at full occupancy of EUR 19.3
million per annum. As of September 30, 2012, the weighted remaining
term of the leases was 5.5 years. Around 44% of the potential rent
relates to retail floor space, 42% to office space and 14% to other
types of use.

Further inquiry note:
{Fair}[HYPERLINK: mailto:Fair] Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich@fvreit.de

end of announcement euro adhoc
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company: Fair Value REIT-AG
Leopoldstraße 244
D-80807 München
phone: +49 (0) 89 9292815 01
FAX: +49 (0) 89 9292815 15
mail: info@fvreit.de
WWW: http://www.fvreit.de
sector: Real Estate
ISIN: DE000A0MW975
indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index,
RX REIT Index
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
dealing/prime standard: Frankfurt
language: English