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Adler Real Estate AG: Adler Real Estate AG aiming for two-digit return on equity

Adler Real Estate AG / Preliminary Results

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.

ADLER Real Estate AG aiming for two-digit return on equity

  - Expansion and growth of business operations in 2007

  - High net income also through special influencing factors

Hamburg, March 11, 2008. ADLER Real Estate AG, Hamburg, expanded its
operating business in 2007 and successfully achieved again a very positive
result. The annual net surplus of EUR 7.27 millions (previously: EUR 8.56
millions) resulted again from special influencing factors, namely from the
acquisition of MÜBAU Real Estate GmbH and the liquidation of some assets,
which in this context were acquired. These transactions are reflected in
other operating income that increased to EUR 18.43 millions (previously:
EUR 12.16 millions). Earnings per share amounted to EUR 0.40 for the
financial year 2007 (previously: EUR 0.70).

The increase in consolidated revenues to EUR 5.41 millions (previous: EUR
2.63 millions) is the result of ongoing sales of properties, rental income
of property portfolios and asset management fees, a result of the
acquisition of two portfolios in November 2007 that will be the basis of
revenues in the coming years. The earnings should be retained, following
the proposal of the Managing Board, in order to sustain the basis for
further business expansion.

In 2008, the expenses of the Group will be covered by current revenues,
particularly from the asset management. The asset Management will be
vigorously expanded also in 2008. Moreover, it is planned to generate
additional operating revenues from ongoing project development. Altogether,
the Managing Board aims at a return of 10 to 15% on invested capital. The
Supervisory Board will decide at a meeting at the end of March on the
adoption of the annual accounts. The complete annual report will be
published at end of April.

The Managing Board 

For further inquiries, please contact:

german communications dbk ag

Jörg Bretschneider

Alsterufer 34, 20354 Hamburg

Tel.: +49 (0)40 46 88 33 0, Fax: +49 (0)40 47 81 80 
11.03.2008  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