DGAP-Adhoc: POLIS Immobilien achieves unexpected good valuation result in the first quarter 2011

POLIS Immobilien AG  / Key word(s): Quarter Results/Preliminary Results

21.04.2011 16:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

- Result for the first quarter is expected to be much better than in the
previous year

Berlin, 21 April 2011 - POLIS Immobilien AG [ISIN: DE0006913304] reported a
valuation result of approx. EUR 8 million for the first quarter (previous
year: EUR -1.6 million). Accordingly, the result for the quarter is
expected to be much better than in the previous year.

The result from the revaluation of investment properties climbed to approx.
EUR 6 million (previous year: EUR -0.1 million) in the first quarter and
benefited primarily from the three investment properties acquired in
Dresden with effect from 1 January 2011, which were recognized for the
first time. The company was able to win new tenants immediately after the
acquisition of these investment properties and also benefited from the fact
that a lease for approx. 2,300 square metres of retail space was renewed at
better conditions. Moreover, POLIS Immobilien was able to continue the good
letting performance of the previous year and to increase the letting ratio
to 79 %. The values continue to be determined at the time of acquisition of
new investment properties and at least once a year by external appraiser
Feri EuroRating Services. Since the last quarter 2010, the market values of
investment properties for which no fundamental changes have occurred and
which were not valued by Feri at the end of the quarter have been
determined in the context of internal valuation.

POLIS Immobilien also benefited from the continued increase in interest
rates. The rise in market rates led to a valuation gain on interest rate
hedging instruments of EUR 2.3 million (previous year: EUR -1.5 million).
The company uses interest rate hedges to hedge at least 50 to 70 percent of
its loans against changes in interest rates.

POLIS Immobilien intends to increase its income from property management in
2011 in order to lay the foundation for continued growth in 2012. Given
that much of the valuation result of the first quarter is due to the
initial recognition of newly acquired investment properties and to changes
in the valuation of financial instruments, comparable valuation results are
not expected in the coming quarters due to the non-recurrent nature of
these effects.

For more information, refer to the report on the first quarter, which will
be published on 5 May 2011.

POLIS Immobilien AG, which was founded in Berlin in 1998, is 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 properties that are either 
already renovated and are completely let, thereby generating stable cash 
flow, or properties that are vacant or require modernisation, and which
offer specific value appreciation potential. This potential may be realised
by corresponding modernisation measures or full revitalisation. As of 1
January 2011, POLIS Immobilien's real estate portfolio comprises a total of
37 properties with a market value of around EUR 306 million. POLIS
Immobilien shares are listed on the regulated market (Prime Standard) of
the Frankfurt Securities Exchange. Further information can be found at
www.polis.de.


Investor Relations

Dr. Alan Cadmus
POLIS Immobilien AG
Tel: +49 30 225 00-250
E-mail: ir@polis.de
URL: www.polis.de

Press contact

Britta Cirkel 
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 36 90 50- 56
E-mail: b.cirkel@hoschke.de






21.04.2011 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:      POLIS Immobilien AG
              Rankestraße 5/6
              10789 Berlin
              Deutschland
Phone:        +49 30 225 00-261
Fax:          +49 30 225 00-299
E-mail:       info@polis.de
Internet:     www.polis.de
ISIN:         DE0006913304
WKN:          691330
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hamburg, München
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------