euro adhoc: Vivacon AG / Financial Figures/Balance Sheet / VIVACON AG boosts net income to EUR 56.2m (+23%) in 2007 and increases dividends by 25% to EUR 0.50 per share

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
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31.03.2008

VIVACON AG (ISIN DE0006048911) today announces it sold 13,157
apartments (2006: 12,946 units) with a total transaction volume of
EUR 568m in 2007. As in the previous year, the majority of these
transactions were disposals of individual asset-holding companies
structured as share deals. Since only the realized margin is
recognized as revenue in such share deals, group revenues reached EUR
193.8m in 2007, compared to EUR 124.4m in the year before (+56%).
EBIT increased to EUR 82.1m (+5%) from EUR 78.5m in the previous
year. Group net income improved to EUR 56.2m (+23%) from EUR 45.9m in
2006. Earnings per share increased to EUR 2.88 (+21%) following EUR
2.38 in the previous year. The company proposes the payment of a
dividend for FY 2007 amounting to EUR 0.50 per share (+25%) at the
upcoming annual general meeting.

In the course of 2007, the initial annual ground lease cash flows
increased by 51% to EUR 14.2m. These ground lease cash flows in
general have a maturity of 198 years, a super-senior ranking in the
land register and offer 100% CPI inflation protection. As per
December 31st 2007, the company owned c. 6,100 residential units on
the balance sheet. In the meantime, the number of apartments owned
has reached c. 6,900 units, which were acquired at an average gross
yield of 8.3% and for an average price of c. EUR 592 per sqm. All
units are recognized at original acquisition costs and without any
real-estate write-ups. The total portfolio generates an annual rental
income of c. EUR 22m and is currently prepared for upcoming portfolio
disposals. In addition, the company has an interest in a further c.
4,800 units via the WIAG joint venture. In the development business
VIVACON AG sold 380 units with a total volume of EUR 98.4m in 2007.
Moreover, 11 new development projects comprising a total of 1,026
condominiums and a sales volume of EUR 427m were announced.

Following the majority acquisition of Curanis Group, which manages
approximately 53,000 units with total assets under management of c.
EUR 4bn, the company is now in an excellent and unique position to
provide residential real estate investors in Germany with a complete
range of services from real estate sourcing, asset management to
property management from a single source.

In 2008, the management of VIVACON plans to sign several acquisition
and management contracts with institutional investors as well as the
direct acquisition of ground leases amounting to several million EUR
of annual cash flows. VIVACON confirms its net income guidance of EUR
60m in 2008.

The 2007 results are still subject to the final auditors´ report and
supervisory board approval expected for April 9th.

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

Further inquiry note:

Sven Annutsch

Head Investor Relations & Corporate Finance

Tel: + 49 221 130 5621 630

Sven.Annutsch@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: SDAX, CDAX, Classic All Share, Prime All Share, DAX
International 100
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing


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