EANS-Adhoc: Warimpex Finanz- und Beteiligungs AG / First quarter of 2009 Business impacted by the adverse conditions - beginnings of recovery expected at the end of 2009

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3-month report

25.05.2009

. Occupancy rates and revenues down in the first quarter .
Difficult conditions on the hotel market pull sales down by 19 per
cent . Cautiously optimistic outlook for the real estate market
in CEE

|Key figures in EUR millions |Q1/2009 |Change |Q1/2008* |
| | | | |
|Total revenues |14,715 |-19% |18,240 |
|Gains from the sale of project
companies |- |- |9,219 |
|EBITDA |-3,840 |- |9,843 |
|EBIT |-7,316 |- |6,888 |
|Profit for the period |-10,276 |- |-1,884 |
|Earnings/loss per share |-0.28 |- |-0.05 |
|in EUR | | | |
| | | | |
|Number of hotels** |18 |2 |16 |
|Number of rooms (adjusted for |2,916 |427 |2,489 |
|proportionate share
of ownership) ** | | | |
|Number of office and commercial |6 |-1 |7 |
|properties | | | |
|Number of hotel development
projects |6 |-10 |16 |
| | | | |
|Gross asset value (GAV)
in EUR millions |666.7 |8% |614.8 |
|*** | | | |
|Triple net asset value (NNNAV)
in EUR |301.9 |- 22% |387.4 |
|millions *** | | | |
|NNNAV per share in EUR *** 8.4 |- 22% |10.8 |

* restated, ** andel's hotel in ?ód? opened in May, after 31 March 2009,

*** 31 December 2008

Vienna, 25 May 2009 - The first quarter of 2009 saw lower occupancy
rates and lower revenues at Warimpex's hotels. Group sales fell by
19 per cent from EUR 18.2 million to EUR 14.7 million in the
first three months of the 2009 financial year.

"Tourism is very sensitive to economic trends and cycles. The
Warimpex hotels were not able to escape the effects of the currently
poor economic environment and saw significant decreases in sales,
especially in the Czech Republic and France. However, business at
our hotel in Munich has grown nicely as of late, and conference
business at the newly opened andel's in Berlin has gotten off to a
promising start. And in Prague, we are seeing a slight turnaround
after the significant declines in recent months," reported Franz
Jurkowitsch, chairman of Warimpex's Management Board. "Falling
interest rates and rising property yields in CEE are causing
increased interest among institutional real estate investors.
Because of this change, I expect that the volume of real estate
transactions will begin rising again at the end of 2009. Cheap
money is

effective, even if it is only flowing very slowly into the economy right now
because banks are still pursuing cautious lending strategies," said
Jurkowitsch, expressing his cautious optimism.

Financial result
Consolidated sales fell by 19 per cent from EUR 18.2 million to EUR 14.7
million in the first three months of financial year 2009. Revenues from the
hotel segment declined to EUR 13.3 million compared to EUR 16.8 million in the

first quarter of 2008 in spite of the fact that the average number
of rooms increased. Most of this decline in sales can be
attributed to the adverse conditions in Prague and Paris.
According to HotStat (European Chain Hotels Market Review -
March 2009), occupancy rates at four- and five-star hotels in
Prague were down by 17 per cent compared to the first quarter of
2008, while average occupancy fell by roughly 7 per cent in Paris.
The Warimpex hotels were not immune to the effects of these adverse
market conditions and saw turnover decline significantly. Revenues
from the rental of offices and the provision of development services
remained stable at EUR 1.5 million.

EBITDA fell from EUR 9.8 million to EUR -3.8 million, and EBIT were
down from EUR 6.9 million in the first quarter of 2008 to EUR -7.3
million. This EUR 14.2 million decline can primarily be attributed
to the higher revenues achieved through the sale of properties
and shares in development projects in the prior period. The Group's
financial result improved from EUR -9.5 million to EUR -2.6 million.
Above all, this EUR 6.9 million change can be attributed
to adjustments in the fair values of short-term financial
investments in the amount of EUR 5.9 million in the first quarter
of 2008.

Key events The largest four-star superior andel's design hotel to
date was opened in Berlin at the beginning of March 2009. Compared
to 31 March 2008, the number of available hotel rooms (adjusted for
the proportionate share of ownership) rose by 427, from 2,489
to 2,916, as of 31 March 2009. This is primarily
attributable to the opening of the angelo hotel in Munich, the 69
additional rooms at angelo airport hotel in Bucharest, the opening of
the angelo in Plzen, and the opening of the andel's in Berlin. The
Hansa hotel ship, which was operated as a branch of the Amber
Baltic hotel, was closed.

Real estate assets At 31 March 2009, the real estate portfolio of
the Warimpex Group comprised eighteen hotels with a total of 4,300
rooms (2,916 rooms when adjusted for the proportionate share of
ownership), plus seven office properties with a total lettable
floor area of some 32,000 square metres (23,000 square metres
when adjusted for the proportionate share of ownership). Eleven real
estate projects are currently under construction or in advanced
stages of development (not including the planned budget hotels).

Outlook Our strategic focus in 2009 will be on the completion of the
projects that we currently have under construction. The andel's in
Berlin is one of the largest conference hotels in the city and
enjoyed a very successful start to business in the first quarter.
The andel's in ?ód? opened in the middle of May 2009. The angelo
airport hotel in Ekaterinburg will be completed in the third quarter
of 2009, and Airport City in St. Petersburg (including the Crowne
Plaza Hotel) will follow at the end of 2010.

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

DI Christoph Salzer

mailto:presse@warimpex.com

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

www.warimpex.com

Branche: Real Estate
ISIN: AT0000827209
WKN:
Index: ATX Prime
Börsen: Wien / official market