euro adhoc: Warimpex Finanz- und Beteiligungs AG / Financial Figures/Balance Sheet / Warimpex boosts revenues by 23% in the first three quarters of 2008

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9-month report

27.11.2008

Warimpex boosts revenues by 23% in the first three quarters of 2008

. Total revenues up by 23% to EUR 70.9 million
. EBITDA grow by 20% to EUR 28.4 million, EBIT by 15% to EUR 19.1 million
. angelo Plzen opens and angelo Bucharest re-opens

|Key figures in millions of euros |1-9/2008 |1-9/2007 |Change |
| | | | |
|Total revenues |70.9 |57.7 |+23% |
|Gains from the sale of project companies |9.6 |2.4 |+305% |
|EBITDA |28.4 |23.7 |+20% |
|EBIT |19.1 |16.6 |+15% |
|Profit for the period |2.0 |11.5 |-82% |
|Earnings per share in EUR* |0.06 |0.32 |-81% |
| | | | |
|Number of hotels |17 |14 |+3 |
|Number of rooms (adjusted for proportional |2,631 |2,117 |+514 |
|share of ownership) | | | |
|Number of office and commercial properties |7 |7 |- |
|Number of development projects |14 |9 |+5 |
| | | | |
| |6/30/2008|12/31/2007| |
|Gross asset value (GAV) |636.4 |614.8 |+4% |
|Triple net asset value (NNNAV) |341.4 |387.4 |-12% |
|NNNAV per share in EUR |9.5 |10.8 |-12% |

*) Based on average number of shares in the period

Total revenues in the first nine months of this year grew from EUR
57.7 million to EUR 70.9 million compared to the same period of
2007, an increase of 23%. EBITDA and EBIT also improved; the EUR
2.5 million increase in EBIT can above all be attributed to
increased proceeds from the sale of properties and property
development projects.

While gains from the sale of project companies totalled EUR 2.4
million in the first three quarters of 2007, such proceeds
increased to EUR 9.6 million in the same period of 2008. This is due
to the sale of a 10% stake in the Airport City development project
in St. Petersburg. Because of the poorer financial result, however,
the profit for the period fell from EUR 11.5 million to EUR
2.0 million in year-on-year comparison.

Real estate assets As of the end of September 2008, the Warimpex
Group real estate portfolio comprised twenty-four properties in
total, seventeen of which were hotels and seven office buildings.
The company also holds a large number of undeveloped plots and
development projects in eight countries in Central and
Eastern Europe. The primary regional focus is on Hungary, the Czech
Republic, Poland, Romania and Russia.

Compared to the end of 2007, estimated property values were
down due to considerably increased yields in CEE and higher
construction costs. This also depressed the NNNAV. As of 30 June
2008, the NNNAV per share was EUR 9.5, roughly 12% lower than
at the end of 2007, but still well above the current share
price.

Outlook Warimpex is currently developing thirteen projects; the
expansion of the angelo airport hotel in Bucharest was concluded in
September and the angelo in Plzen opened at the beginning of
October. Two andel's hotels are set to open in Berlin and Lodz
and one angelo hotel in Ekaterinburg by the second quarter of
2009. The development of budget hotels under the joint venture
with Louvre Hotels is proceeding according to schedule.

Warimpex Group will be focusing on completing its development
projects and thereby bolstering its market position on its home
markets in the coming months. Management will also be employing
active asset management to maintain the current good yields from
the group's existing high-quality properties.

end of announcement euro adhoc
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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Warimpex Finanz- und Beteiligungs AG

Phone: +43 1 310 55 00

Christoph Salzer

mailto:presse@warimpex.com

Daniel Folian, mailto:investor.relations@warimpex.com

www.warimpex.com

Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market