EANS-Adhoc: S IMMO AG / Start of exchange offer for S IMMO INVEST participating certificates

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ad-hoc disclosure 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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Capital measures
19.05.2014

With reference to the ad hoc releases of 29 April 2014 and 30 April
2014, S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI; ISIN:
AT0000652250) announces that, after establishment of all
prerequisites for the implementation, its offer to exchange the
S IMMO INVEST participating certificates (ISIN: AT0000795737 and
ISIN: AT0000630694) listed on the Vienna Stock Exchange for a bond
will open on 21 May 2014.

The exchange offer applies to up to 1,140,000 of the 2,280,797 S IMMO
INVEST participating certificates at present outstanding, i.e.
approximately half of the outstanding total. As soon as the offer is
open, holders of participating certificates may exchange their
certificates into a 7-year fixed term bond with a fixed coupon of
4.5% at the exchange rate of EUR 79.11 per certificate. The offer
closes on 06 June 2014. The increase in the exchange rate from
EUR 78.88 to EUR 79.11 per participating certificate is attributable
to the postponement of the implementation of the exchange offer.

The offer documentation pursuant to the Takeover Act (ÜbG) together
with the expert's report pursuant to section 9 para 1 and section 13
ÜbG and further information about the exchange offer will be
available on S IMMO AG's website at www.simmoag.at/umtauschangebot as
from 21 May 2014.

This disclosure is a mandatory disclosure pursuant to section 48d
para 1 Stock Exchange Act (BörseG) and is for promotional
purposes in Austria. It is a marketing announcement in the
meaning of the Securities Supervision Act (WAG) and the Capital
Markets Act (KMG), but does not constitute financial analysis or
advice relating to financial securities. It is neither a
recommendation nor an offer to sell nor an invitation to purchase
securities of S IMMO AG ("the Company"). The offer to exchange
securities of the Company is made exclusively by means and on the
basis of the basic prospectus and its annexes approved by the
Financial Market Authority (FMA) and published on 29 April 2014,
together with the binding terms and conditions ("the Prospectus") and
the offer document approved by the Takeover Commission, which are
available free of charge from the Company's offices at
Friedrichstrasse 10, 1010 Vienna, during normal business hours
and may be viewed electronically on the issuer's website
(www.simmoag.at).

This announcement is addressed exclusively to persons legally
entitled to receive it. In particular, it is not addressed to
U.S. citizens or persons resident in the United States of America
(USA), the United Kingdom, Belgium, France or Italy. This
announcement is neither an offer to purchase nor a public invitation
to sell securities in Italy, Belgium, France or any jurisdiction in
which such an offer or invitation would be contrary to the
law. This announcement is not for publication or distribution in the
USA and may not be distributed to persons or publications
generally distributed in the USA nor be published or distributed in
any other country in which its publication or distribution
would be contrary to the law.

Further inquiry note:
Investor Relations:
Andreas J. Feuerstein
Phone: +43(0)50100-27556
Fax: +43(0)05100-927556
E-mail: andreas.feuerstein@simmoag.at
www.simmoag.at

Corporate Communications:
Bosko Skoko
Phone: +43(0)50100-27522
Fax: +43(0)05100-927522
E-mail: bosko.skoko@simmoag.at
www.simmoag.at

end of announcement euro adhoc
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issuer: S IMMO AG
Friedrichstraße 10
A-1010 Wien
phone: +43(0)50100-27550
FAX: +43(0)050100-927559
mail: office@simmoag.at
WWW: www.simmoag.at
sector: Real Estate
ISIN: AT0000652250
indexes: ATX Prime, IATX
stockmarkets: official market: Wien
language: English