PR Newswire/Les Echos/

Media Release

Zurich, 17 September 2009

Züblin rotates independent appraisers, sells properties in Germany

Züblin Immobilien Holding AG today announced that the Board of Directors has
approved the rotation of the Group’s independent property appraisers. This
change is based on industry best practices to periodically rotate the
appraisers. The Company also announced the sale of two properties in Germany for
an amount slightly below their combined IFRS value as of 31 March 2009.

Züblin has used the same independent property appraisers, Jones Lang LaSalle and
CB Richard Ellis, since it started its real estate activities in 1998. In line
with industry best practices, the Board of Directors took the decision to rotate
its appraisers. As of 30 September 2009, Züblin has engaged Wüest & Partner AG,
Zurich, as its lead independent appraiser. Wüest & Partner will directly perform
the valuations in Switzerland and Germany, and will coordinate the valuation
activities in France, the Netherlands and Belgium. In France, BNP Paribas Real
Estate (formerly Atisreal) will perform the valuations, with Troostwijk
responsible for the Netherlands and Belgium.

The Company also announced today the disposal of its 89% vacant, 10,094 m2
office building on Eisenstrasse in Rüsselsheim,, as well as its fully-let 
1,090 m2 retail property on Massener Strasse 61 in Unna. The combined annual 
rental income of the two properties is €157,000. The sales are consistent with
the Company’s strategy to concentrate its investment holdings on energy 
efficient office properties in a few selected cities in Switzerland, France and 
Germany. The combined sales price was €2.9 million and is slightly below the 
total IFRS values as of 31 March 2009.

For more information
Bruno Schefer, CEO, Züblin Immobilien Holding AG, Claridenstrasse 20, 
8002 Zurich, Switzerland.
Tel. +41 44 206 29 39, bruno.schefer@zueblin.ch.
More information can be found on our website www.zueblin.ch.

A brief outline of the Züblin Group
The Züblin Group invests in energy efficient office properties in top locations.
Züblin’s core markets are Switzerland, France and Germany, where it concentrates
on a few selected cities. Its portfolio is made up of 71 investment properties
with a market value of CHF 1.5 billion.
                      
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