DGAP-Adhoc: ESTAVIS AG publishes results for the first half-year 2007/2008 and lowers forecasts for the financial year

| Source: EQS Group AG EQS Group AG 

ESTAVIS AG / Half Year Results/Profit Warning

15.02.2008 

Release 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.
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-Revenue increase of 31%, EBIT before non-recurring events above previous
year’s level
-Portfolio transactions currently negatively affected by crisis on the
financial markets
-Reduced forecasts for financial year 2007/2008
-Significant growth in sale of apartments to private investors expected

KEY FIGURES for first half-year 2007/2008 (1 July 2007 – 31 December 2007)
– comparable period: first half-year 2006/2007:
-Revenues at EUR 104.7 million (previous year: EUR 79.7 million); -Total
operating performance EUR 94.6 million (previous year: EUR 79.8 million);
-EBIT (operating profit + net income from associates) EUR 4.4 million
(previous year: EUR 9.5 million); -EBIT before non-recurring events EUR
10.0 million; -Earnings before tax EUR 3.0 million (previous year: EUR 8.5
million); -Net profit EUR 2.7 million (previous year: EUR 5.3 million);
-Earnings per share EUR 0.35 (previous year: EUR 1.04); -Sales volume in
economic units 1,765 (previous year: 2,038); Sales volume in square metres
114,052 (previous year: 108,182)

Berlin, 15 February 2008 – ESTAVIS AG (ISIN: DE000A0KFKB3) today announced
its results for the first half-year 2007/2008. In accordance with
International Financial Reporting Standards (IFRS), revenues increased by
31% to EUR 104.7 million compared to the previous year’s period. In
addition to this, transactions with a volume of EUR 57 million were
registered by 31 December 2007. These revenues and the corresponding income
will, for the most part, materialise in the second half of the current
financial year.

Earnings before tax and interest of EUR 4.4 million was negatively impacted
by non-recurring events to the amount of EUR 5.6 million. In addition to
the effects of the purchase price allocation – mandatory in accordance with
IFRS - for the acquisition of Hamburgische Immobilien Invest SUCV AG and
B&V Bauträger- und Vertriebsgesellschaft für Immobilien mbH in Berlin, for
a total amount of EUR 4.8 m, there were also total start-up costs of EUR
0.8 million for the establishment of ESTAVIS Property and Asset Management.
Adjusted for non-recurring events, EBIT amounted to EUR 10.0 million.

Other operational costs include sales commissions of EUR 3.8 million for
the sale of property by CWI Real Estate AG.

Consolidated profit was also positively impacted in the amount of EUR 0.6
million as a result of one-time effects in deferred tax receivables and
liabilities as a result of the changes to the 2008 German Corporation Tax
Reform Act. Earning per share amount to EUR 0.35 (previous year: EUR 1.04)

Crisis in the financial market negatively impacts portfolio trading –
forecasts for 2007/2008 reduced
Uncertainty in international financial markets is making the financing of
portfolio transactions more difficult for institutional investors. For this
reason, the Board of Management is expecting very restrained business
development in portfolio trading. However, continued significant growth is
expected in sales of apartments to private investors.

Since it is currently not possible to gauge the extent or the duration of
the critical situation on the financial markets, the forecast for the
current financial year has been reduced. The Board of Management now
expects light sales growth in comparison with the previous year (EUR 198.4
million). Present estimates predict an EBIT margin before non-recurring
events of around 10%.

The complete quarterly report in German can be found on the ESTAVIS AG
website at http://www.estavis.de/finanzberichte.0.html and in English at
http://www.estavis.de/199.0.html.


Contact:
ESTAVIS AG - Peter Vogt - Investor & Public Relations - Tel: + 49 30 887
181 799 - E-Mail: ir@estavis.de


DGAP 15.02.2008 
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Language:     English
Issuer:       ESTAVIS AG
              Uhlandstr. 165
              10719 Berlin
              Deutschland
Phone:        +49 (0)30 - 887 181 - 0
Fax:          +49 (0)30 - 887 181 - 11
E-mail:       info@estavis.de
Internet:     http://www.estavis.de
ISIN:         DE000A0KFKB3
WKN:          A0KFKB
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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