EANS-News: InCity Immobilien AG / InCity Immobilien AG maintains strong growth track

- InCity Group publishes preliminary figures for the financial year
2008
- Net profit up by 70%
- Positive outlook for 2009

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companies/Preliminary figures

Cologne (euro adhoc) - 23 March 2009 - InCity Immobilien AG, a group
of companies specialised in planning and realising high-quality
properties in central urban locations, has published today its
preliminary figures for the financial year 2008. The results in
accordance with IFRS underline the company's sustainable business
model, even in a market environment which has significantly
deteriorated.

In the financial year 2008, InCity Group achieved sales of EUR 60.2
million, an increase of 12.7% compared to the previous year (EUR 53.4
million in 2007). The operating result (EBIT) went up by 24.7% to EUR
9.1 million from EUR 7.3 million in 2007. Annual net profit came to
EUR 5.1 million, exceeding the previous year's amount by 70.0% (EUR
3.0 million in 2007). The total operating performance of the group -
the sum of sales and changes in inventory for work and services in
progress - amounted to EUR 77.8 million in 2008, increasing by 15.4%.

Given increased financing costs in the third and fourth quarter and
enhanced risk management, Managing Board member André Peto is
satisfied with the results: "Our positive development in 2008
confirms that we are on the right track with our company policy. On
the one hand, focussing exclusively on properties in top locations
has proven to be an approach insulated against times of crisis, while
on the other, the targeted expansion of our product portfolio for
retail properties has enabled us to improve our flexibility. We are
now able to increasingly exploit our core competencies, allowing us
to take advantage of opportunities in the market." André Peto is also
confident about 2009: "Given our extensive project pipeline and the
substantially declining short-term interest rates since the beginning
of the year we expect a further improvement of our performance."

The final figures for the financial year 2008 will be published at
the beginning of April on the company's website www.incity.ag.

About InCity Immobilien AG:

InCity Immobilien AG specialises in the planning and realisation of
high-quality property in inner city locations. The company develops
and markets both residential and retail properties using its inhouse
expertise to minimise project running time and to deliver high value
added in the process. InCity pools the experience accumulated through
about 250 high-quality heritage building redevelopment and new
building projects for discerning self-users and investors. The
company creates exclusive, high-value space tailored to customers'
needs in top locations of German metropolitan areas. InCity
underlines its corporate responsibility towards society and the
environment through participation in the UN Global Compact, the
international initiative of the United Nations for the promotion of
social and environmental principles. Further information:
www.incity.ag

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

Further inquiry note:

InCity Immobilien AG

André Peto

Phone: +49 (0) 221 95 27 57 55

a.peto@incity.ag

Investor Relations

Dariusch Manssuri

Phone: +49 (0) 221 91 40 970

dariusch.manssuri@ir-on.com

Branche: Real Estate
ISIN: DE000A0HNF96
WKN: A0HNF9
Börsen: Börse Frankfurt / free trade/entry standard
Börse Berlin / free trade