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ADLER Real Estate AG: ADLER Real Estate AG acquires a stake in DB Immobilien GmbH

ADLER Real Estate AG / Miscellaneous

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 acquires a stake in DB Immobilien GmbH
- Good basis for an expansion of asset management activities

- Transaction will facilitate marketing, appraisals and procurement

Hamburg, 10 December 2008. ADLER Real Estate AG (ISIN DE0005008007),
Frankfurt, will acquire a stake in DB Immobilien GmbH, Heidelberg, one of
the leading real estate brokerage companies in Germany, in two stages.
First, ADLER will acquire a minority stake in the company. This will be
followed by a share capital increase involving the existing shareholders as
well as ADLER. DB Immobilien GmbH has over 60 branches and offices
nationwide, some of which are integrated with Deutsche Bank. DB Immobilien,
formerly a member of Deutsche Bank Group, cooperates very closely with
Deutsche Bank Privat- und Geschäftskunden AG. The investment will benefit
ADLER's business in a number of ways. It will provide ADLER with a broad
new platform to obtain asset management contracts for new portfolios, thus
facilitating the planned expansion of ADLER's asset management business. DB
Immobilien also offers high expertise in connection with the sale of real
estate and projects nationwide, as well as the ability to evaluate
prospects of success, transaction speeds and price trends in a professional
manner. DB Immobilien will formulate a joint marketing concept with the
object of rapid implementation, especially for the residential properties
held by ADLER subsidiary Münchener Baugesellschaft.

In return, DB Immobilien GmbH will receive a financially sound partner with
a wide array of projects and sites and together the partners will optimize
development and marketing. This transaction also offers attractive new
investment opportunities for ADLER.

The Management Board

If you have any questions, please contact:

german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
10.12.2008  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