euro adhoc: Vivacon AG / Financing, Stock Offerings (IPO) / VIVACON AG announces details on planned IPO of Vivacon German Properties PLC

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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16.05.2006

Cologne, 16th May 2006. VIVACON AG (ISIN DE0006048911) discloses
further details of the proposed flotation of the Isle of Man-based
Vivacon German Properties PLC on the AIM segment of the London Stock
Exchange. The consortium will consist of Credit Suisse and Lehman
Brothers. VIVACON AG is acting as sponsor to Vivacon German
Properties PLC, which is an independent, newly founded company. The
international roadshow and bookbuilding are planned shortly.

Vivacon German Properties PLC plans to raise up to EUR 500 million in
equity by way of the flotation. The transaction is an independent
flotation of a new company and not a capital increase of
German-listed VIVACON AG. VIVACON AG itself intends to acquire a 10%
shareholding in the new company and plans to enter into a voluntary
lock-up period of 18 months in respect of its holding.

VIVACON AG intends to earn recurring asset management fees through
its subsidiary, Vivacon Real Estate Management GmbH, as well as
receiving potential future dividends as a shareholder, both of which
will contribute to greater earnings visibility in the future. Via
this subsidiary, VIVACON AG will also have a success-related
participation in potential profits generated from future sales of
properties by Vivacon German Properties PLC.

Using a combination of equity and a bank debt, Vivacon German
Properties PLC plans to invest up to cf. EUR 1.25 billion in
profitable residential real estate assets in Germany within the next
approximately 18 to 24 months. VIVACON AG will offer suitable
residential real-estate portfolios to Vivcon German Properties PLC on
a preferencial basis. In line with VIVACON AG’s business model, these
will be in the form of leaseholds.

Not for distribution in the United States, Canada, Australia and
Japan

This document does not constitute an offer for sale of shares,
neither in the United States, nor any other jurisdiction. The shares
have not been and will not be registered under the U.S. Securities
Act of 1933, as amended or under the securities laws of the
individual states of the United States and must not be offered or
sold in or be delivered to the United States. It is not intended to
register the offering or any part thereof in the United States or to
conduct a public offering in the United States.

end of announcement euro adhoc 16.05.2006 08:03:15
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ots Originaltext: Vivacon AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Sven Annutsch
Head of Corporate Finance
Tel: + 49 221 130 5621 630
Sven.Annutsch@vivacon.de

Lars Schriewer
Director Communication
Tel: + 49 221 130 5621 631
Lars.Schriewer@vivacon.de

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 130 5621 950
www.vivacon.de

Branche: Real Estate
ISIN: DE0006048911
WKN: 604891
Index: CDAX, SDAX, Prime All Share, Classic All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / official dealing


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