GAGFAH : Change in Composition of Board of Directors

Press Release: March 6, 2015
GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg

ISIN: LU0269583422
Frankfurt Stock Exchange (Ticker Symbol: GFJ)
Regulated Market (Prime Standard)

The change of control announced by Deutsche Annington Immobilien SE in connection with the voluntary public takeover offer to the shareholders of GAGFAH S.A. leads to the following changes in the composition of the Board of Directors of GAGFAH S.A., as expected:

Gerhard Zeiler (chairman), Hendrik Jellema, and Daniel Just resigned from their offices as members of the Board of Directors of GAGFAH S.A. As had already been indicated in the Offer Document published by Deutsche Annington Immobilien SE in connection with the voluntary public takeover offer to the shareholders of GAGFAH S.A., it is intended to propose Mr. Zeiler, Mr. Jellema, and Mr. Just as new members to the Supervisory Board of Deutsche Annington Immobilien SE. A resolution to that effect is expected to be proposed to the annual general shareholders' meeting of Deutsche Annington Immobilien SE, which is scheduled to take place on April 30, 2015.

Furthermore, the Board of Directors of GAGFAH S.A. has resolved to co-opt Rolf Buch as representative of the majority shareholder and Pierre Berna as independent board member to the Board of Directors. The two new directors shall be proposed for election to the next annual general shareholders' meeting of GAGFAH S.A. In addition, the Board of Directors appointed Dieter H. Ristau, independent board member, as its new chairman.

GAGFAH S.A.'s Board of Directors therefore comprises the following members:
Dieter H. Ristau (chairman, independent director)
Pierre Berna (independent director)
Yves Wagner, Ph.D. (independent director)
Rolf Buch
Thomas Zinnöcker

Contact
GAGFAH S.A.
Investor Relations
2-4, rue Beck
L-1222 Luxembourg
Tel.: +352 266 366 1
rhoffmann@gagfah.com
www.gagfah.com
R.C.S. Luxembourg B 109.526

About GAGFAH S.A.

GAGFAH S.A. is a joint stock corporation organized under the laws of the Grand Duchy of Luxembourg qualifying as a securitization company under the Luxembourg Securitization Law of March 22, 2004. The core business of GAGFAH S.A.'s operating subsidiaries is the acquisition, ownership and management of a residential property portfolio located in Germany.

GAGFAH is a leading owner and operator of residential real estate in Germany. Our portfolio includes more than 144,000 own residential units that are mostly located in the large German cities and their respective commuter belts. We believe that our size, our significant presence in the key residential markets and our scalable operating platform make us one of the leading providers of affordable housing for low- to medium- income households in Germany. Our operating subsidiaries are full-scale service providers for a broad range of property and facility management services.

Our objective is to generate shareholder value through sustainable and growing cash flows, increasing net asset value and sustainable dividends by efficiently managing our portfolio, carrying out value-enhancing property investments, pursuing accretive growth opportunities, and realizing value through selected asset sales.