EANS-News: Hypoport AG to withdraw from Dutch joint venture

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Subtitle: Termination of financial marketplace joint venture in the
Netherlands

Joint Ventures/Cooperation/Collaboration

Berlin, 12 February (euro adhoc) - Financial service provider
Hypoport and its partner Stater Participations B.V. have decided to
dissolve their joint-venture company Hypoport Stater B.V. which was
intended to develop a financial marketplace for the Netherlands. The
joint venture will be wound up in an orderly manner by means of
voluntary liquidation. It is not currently possible for the two
partners in the joint venture to implement their aim of establishing
the German market standard for transaction platforms in the Dutch
market. The decision has been brought about by the situation in the
Dutch banking and real-estate market which has been depressed by the
financial crisis for several years.

Ronald Slabke, Chief Executive Officer of Hypoport AG, explained the
decision: "While the German real-estate market has performed very
robustly since the outbreak of the financial crisis and, if anything,
has benefited overall from the turmoil in the financial markets, the
equivalent market in the Netherlands virtually collapsed and it has
not yet recovered. The volume of new home loans fell from over EUR120
billion in 2007 to around EUR50 billion in 2012. Since establishing
the joint venture, we have created the technical conditions for an
optimum marketplace. In 2009, the platform won Banking Review
magazine's Innovation Award. But as well as functioning technology,
relevant market players are also needed on the platform in order to
achieve a marketplace effect similar to that which emerged in Germany
some years ago. The current market situation in the Netherlands has
not allowed us and our partner to achieve this critical mass. We have
therefore decided to withdraw from the loss-making joint venture and
to focus our energies on further developing our extremely successful
platform in the German market."

One-off write-downs, expected to be EUR1.2 million, will impact net
profit for the year but going forward net earnings will benefit by
around EUR1 million a year from the discontinuation of start-up
losses attributable to the joint venture. Hypoport's preliminary
results for 2012 will be published on 11 March 2013.

Further inquiry note:
Michaela Reimann
Head of Communications
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de

end of announcement euro adhoc
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company: Hypoport AG
Klosterstraße 71
D-10179 Berlin
phone: +49(0)30 42086-0
FAX: +49(0)30 42086-1999
mail: ir@hypoport.de
WWW: http://www.hypoport.de
sector: Financial & Business Services
ISIN: DE0005493365
indexes: CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English