Microsoft Word - 150710_Anhebung Prognose_EN AD HOC ANNOUNCEMENT

POLIS Immobilien raises forecast

- Greatly improved valuation result in Q2
- Group earnings more than doubled to EUR 10.4 million as of the half-year stage

Berlin, 10 July 2015. According to preliminary figures, POLIS Immobilien AG (ISIN DE0006913304), Berlin, boosted its preliminary Group earnings before tax by 136 percent to approx. EUR 10.4 million within the first six months of 2015. The increased result is primarily attributable to a higher result from the valuation of investment properties and a positive result from the valuation of the existing interest rate hedges. The revaluation of the investment properties at the end of the quarter resulted in a positive fair value change of EUR 6.3 million. In addition, the higher market interest rates led to a positive valuation result from interest rate derivatives in the amount of EUR 0.5 million. Consequently, the half-year earnings before taxes (EBT) exceed the company's latest forecast for the full year by more than EUR 3 million. Given that this primarily reflects a change in the non-cash valuation results, there is only a limited effect on funds from operations (FFO) amounting to EUR 3.6 million as of 30 June

2015.
The positive result from the valuation of investment properties is due to the progress made in letting the remaining vacant properties and the successful renewal of existing lease agreements, the reduction in maintenance expenses and the positive performance of investment properties especially in Berlin, Dresden and Stuttgart.
Due to the good valuation result, the forecast for the full year has been raised. It should be noted that the raising is mainly due to unexpected non-cash changes in the market value of the investment properties and financial derivatives. Because of the uncertainties surrounding the valuation of investment properties and the dynamic market situation, merely a range of EUR 15.0 million to EUR 17.0 million can be projected for the Group's earnings before taxes (EBT). At approx. EUR 4.3 million, the

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FFO will slightly exceed the previous forecast. Due to these changes the net asset value (NAV) will increase to EUR 185 million.
The 6-month report for the period ended 30 June 2015 will be published on 6 August
2015.

End of ad-hoc announcement POLIS Immobilien AG, which was founded in Berlin in 1998, is a listed real estate company that buys, refurbishes/revitalises, and manages office properties for its own portfolio. The company focuses on one market segment: office properties in inner-city locations at the most important German office centres. The company acquires both fully leased properties with modern facilities, which generate a secure cash flow, as well as properties that are vacant or require modernisation, and which offer specific value appreciation potential. The company pursues a moderate buy-and-sell strategy. As of 31

December 2014, POLIS Immobilien's real estate portfolio comprised a total of 23 properties with a market value of around EUR 313 million. POLIS Immobilien shares are listed on the regulated market (Prime Standard, ISIN: DE0006913304) of the Frankfurt Securities Exchange. Further information can be found at www.polis.de.

Investor Relations: Press Contact:

Dr. Alan Cadmus POLIS Immobilien AG Tel: +49 30 225 00 250

E-Mail: ir@polis.de

URL:www.polis.de

Christina Siebels

HOSCHKE & CONSORTEN Public Relations GmbH Tel: +49 40 36 90 50-58

E-Mail: c.siebels@hoschke.de

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