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Adler Real Estate AG: Consolidated Profit significantly improved

Adler Real Estate AG / Quarter Results

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ADLER Real Estate AG: Consolidated Profit significantly improved
- ADLER presents nine month report

- Consolidated profit rose to EUR 7.597 million (EUR 1.678 million)

- Basis for growing operational business established

Hamburg, November 30, 2007: In the course of the business year 2007, ADLER
Real Estate AG (ISIN DE0005008007), Frankfurt has considerably expanded the
basics for its operational business and at the same time for its Company
result. As presented in the actual nine month report 2007, the consolidated
profit rose to EUR 7.597 million during the first nine months which is
three times as high as in the same period of the previous year (EUR 2.064
million). This result is considerably affected by the acquisition of MÜBAU
Real Estate GmbH beginning of the year.

ADLER reports a successful expansion of business operations and a clear
structuring in its business lines containing asset management, portfolio
properties and project development. As of September 30, 2007, the sales
revenues of the ADLER Group increased to EUR 4.269 million (EUR 2.628
million). The operating income adds up to EUR 15.297 million as of
September 30, 2007, more than four times as much as in the previous year
(EUR 3.445 million). Hence, a basis was established in the asset management
division to continuous growing revenues allowing ADLER to assume the
management of two real estate portfolios in Germany along with affiliated
companies of the US-insurer American International Group, Inc (AIG). ADLER
holds a 15 percent stake in the total investment amounting to EUR 136
million and participates consequently in increasing revenues and portfolio
value enhancements. ADLER is currently managing assets of EUR 200 million.

In the range of project development business, a number of projects are
currently developing successful as demonstrated in the spring-time acquired
land for a logistics center in Duisburg. Also the concept of the recent
investment of ADLER's subsidiary Muenchener Baugesellschaft in a developing
area for single houses in the county district of Freising near to Munich is
well accepted on the market. The Managing Board of ADLER expects an annual
profit of about EUR 7 million for the business year 2007. It remains to be
seen if additional revenues might be achieved by sales or transactions in
project dealings during the fourth quarter 2007.

Managing Board

About ADLER Real Estate AG: ADLER Real Estate AG is active in asset
management, building-up of portfolio properties and commercial real estate
development. The Company's core competence consists in value and profit
orientated asset management and focuses on the realization and marketing of
high quality real estate projects. Hence, ADLER Real Estate AG aims to
strategic partnership if major projects occur. ADLER Real Estate AG's
history dates back to the renowned Adlerwerke in Frankfurt which were
founded in the 19th century. Today, the majority shareholder of ADLER Real
Estate AG is the U.S. Investor Mezzanine IX.

If you may have any request please refer as follows:

Agency contact:

german communications dbk ag

Jörg Bretschneider

Alsterufer 34, 20354 Hamburg

Fon: +49 (0)40 - 46 88 33 0

Fax: +49 (0)40 - 47 81 80 
30.11.2007  Financial News transmitted by DGAP
Language:     English
Issuer:       Adler Real Estate AG
              Neuer Wall 77
              20354 Hamburg
Phone:        +49 (0)40 - 29 8130-0
Fax:          +49 (0)40 - 29 8130-35
ISIN:         DE0005008007
WKN:          500800
Listed:       Regulierter Markt in Berlin, Frankfurt (General Standard),
              Düsseldorf, München; Freiverkehr in Hamburg
End of News                                     DGAP News-Service