DGAP-News: MainTor district: DIC markets the first construction stage and launches development

DGAP-News: DIC Asset AG / Key word(s: MiscellaneousMainTor district: DIC markets the first construction stage andlaunches development

28.06. 2011 / 15:55

MainTor district: DIC markets the first construction stage and launchesdevelopment

* Primus office block already sold to private investor before constructionstarts* First construction stage: o Demolition from August 2011 onwardso Construction of Primus to start in autumn 2011o New DIC headquarters

DIC has now sold the ´Primus´ office complex in the future MainTor districtto the Frankfurt-based private investor and benefactor Professor CarloGiersch as part of a forward deal before construction work has even begun.The DIC group is to create the new building by mid-2013. By then theCompany will house its Frankfurt headquarters in around 3,300 sqm of thecomplex´s office space. Discussions regarding the remaining rental spaceare already underway with additional interested parties.

A successful marketing phase has laid the foundations for construction workto begin on Frankfurt´s MainTor district, which will be implemented inseveral construction stages: construction stage one, which is to start at 1August, in addition to demolition work includes in particular thepreparatory work on the entire site and the complete redesign of the Primuscomplex, designed by architects KSP Jürgen Engel. The preparatory measures, the demolition work and the work to prepare the site as a whole for thesubsequent construction stages will take around six months. At the sametime, the Primus building shell, which by then will have been completelygutted, will be redeveloped – only its cubature will remain the same, andit will be fully modernised with a new facade, new building services, etc., in accordance with the highest sustainability standards of the GermanSustainable Building Council (DGNB. The total investment volume of thefirst construction stage (demolition, preparatory work and construction ofthe Primus building amounts to some EUR 50 million. The vendor andpurchaser have agreed not to disclose the purchase price paid for thePrimus building. The competent city authorities in Frankfurt have alreadyissued a demolition permit; the application to begin new construction workhas been submitted.

Professor Carlo Giersch: ´For many years now, our investment strategy hasfocused exclusively on top-quality properties in first-rate locations. TheMainTor quarter is an outstanding development project in Frankfurt withgreat potential for creating added value, particularly in view of theGiersch Foundation´s long-term strategy, and it is something which we aretaking the opportunity to secure at an early stage.´

Ulrich Höller, CEO of DIC: ´According to plan, the successful conclusion ofthis first contract has launched the development of the MainTor quarter.With our new headquarters we achieve a goal which has been planned for along time. In addition, this expresses a strong commitment for ourproject. ´

The Primus building is located at Neue Mainzer Strasse 20 and has goodtransport links, being a stone´s throw from the important junction of metrolines at Willy-Brandt-Platz. The commercial rental space, which comes tojust under 5,550 sqm, is spread across the twelve floors of the46-meter-high building. Primus features an arcade as well as a roof terracewith a unique view of the old town and skyline. By mid-2013 DIC will havebuilt the new Primus so that it is ready for use.

The Frankfurt-based real estate investor DIC is a proven expert in thearchitecture of the city, having been a participant in its development aspart of a wide range of projects. In 2004, for example, DIC purchased the57 branches of the Frankfurt Sparkasse and introduced new regulations insome cases. DIC´s work in Frankfurt over the past few years includeswell-known projects such as the city library, the Bienenkorbhaus, Nespressoin Goethe-Strasse, and the Grünhof.

About the MainTor – the Riverside Financial District:With the ´MainTor District´ project, the DIC Group is redesigning the areabetween Untermainkai und Weissfrauenstrasse. As part of this process, thesite, which was previously enclosed, is not only being redeveloped but alsoturned back into a public space, which will be integrated as a fixed partof the surrounding city district with paths and roads. The RiversideFinancial District – the MainTor quarter will enhance the bank of the Mainin Frankfurt´s banking quarter from both an architectural and an urbanplanning perspective. The subsequent construction stages will beimplemented in line with the conclusion of forthcoming rental agreements.The whole MainTor district is set to be completed by 2015. The clearedbuilding scheduled for demolition, which was home to part of Degussa´sheadquarters for several decades, is hosting part of the anniversaryexhibition of Frankfurt´s Museum of Modern Art (Museum für Moderne Kunst -MMK until mid-October.

About DICDIC (Deutsche Immobilien Chancen, active throughout Germany, was foundedin Frankfurt in 1998 and, with its innovative investment philosophy and itsfocus on the German market, is one of the most prominent and successfulfirms in Germany specialising in commercial real estate transactions. Itsbusiness activities include portfolio and asset management, which arehandled by its SDAX-listed company, DIC Asset AG, as well as projectdevelopment and opportunistic investments. It currently holds approximately40 per cent of DIC Asset AG. The real estate assets managed by the DICGroup currently amount to around EUR 3. 2 billion. Its shareholders areinvestment companies, several insurers, institutional investors and familyoffices.

Further information about DIC is available on the Internet atwww.dic-ag.de.

Contact Investor Relations Corporate Communications:Immo von HomeyerEschersheimer Landstraße 22360320 Frankfurt am MainTel. +49 (0 69  9 45 48 58-86Fax +49 (0 69  9 45 48 58-99ir@dic-asset.de

End of Corporate News

28.06.2011 Dissemination of a Corporate News, transmitted by DGAP – acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.

DGAP´s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de

Language:    English                                                Company:     DIC Asset AG                                                        Eschersheimer Landstr. 223                                          60320 Frankfurt                                                     Deutschland                                            Phone:       +49 69 9454858-0                                       Fax:         +49 69 9454858-99                                      E-mail:      info@dic-asset. de                                      Internet:    www.dic-asset. de                                       ISIN:        DE0005098404                                           WKN:         509840                                                 Listed:      Regulierter Markt in Frankfurt (Prime Standard;                    Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,                München, Stuttgart                                     

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