EANS-Adhoc: GSW Immobilien AG places shares at EUR 19.00

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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14.04.2011

GSW Immobilien AG places shares at EUR 19.00

Berlin, 14 April 2011 - GSW Immobilien AG ("GSW" or "Company"), its
selling shareholders and syndicate banks have set the issue price for
the offered shares at EUR 19.00 per share. A total of 24,613,024
shares were placed, including 6,052,630 new shares from a capital
increase, 15,350,000 shares from the holdings of the selling
shareholders and 3,210,394 shares from the holdings of the selling
shareholders in connection with an over-allotment. The total issue
volume amounted to approximately EUR 468 million. The number of new
shares was settled at the end of the offer period to the effect that
the Company generated gross proceeds of approximately EUR 115
million.

The shares of GSW Immobilien AG will start trading on the Regulated
Market (Prime Standard) of the Frankfurt Stock Exchange and on the
Regulated Market of the Berlin Stock Exchange on 15 April 2011. The
free float will amount to approximately 60 percent after the
placement assuming full exercise of the over-allotment option. In the
context of the offer, all selling shareholders have agreed to market
protection agreements, i.e. a lock-up period of six months after
trading in the offered shares has started.

Media Relations
Thomas Ruecker
GSW Immobilien AG
Charlottenstrasse 4
10969 Berlin, Germany

Tel.: +49-30-25 34 13 32
Fax: +49-30-25 34 19 34
E-mail: thomas.ruecker@gsw.de

Investor Relations
Sebastian Jacob
GSW Immobilien AG
Charlottenstrasse 4
10969 Berlin, Germany

Tel.: +49-30-25 34 18 82
Fax: +49-30-25 34 19 09
E-mail: sebastian.jacob@gsw.de

Disclaimer This ad hoc announcement does not contain or constitute an
offer of, or the solicitation of an offer to buy or subscribe for,
securities.

The shares have not been or will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act") and may not
be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act.

This ad hoc announcement is directed at and/or for distribution in
the United Kingdom only to (i) persons who have professional
experience in matters relating to investments falling within article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order") or (ii) high net worth entities
falling within article 49(2) (a) to (d) of the Order (all such
persons are referred to herein as "relevant persons"). This ad hoc
announcement is directed only at relevant persons. Any person who is
not a relevant person should not act or rely on this ad hoc
announcement or any of its contents. Any investment or investment
activity to which this ad hoc announcement relates is available only
for relevant persons and will be engaged in only with relevant
persons.

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

Further inquiry note:

Sebastian Jacob
Tel.: +49 30 25 34- 18 82
E-Mail: sebastian.jacob@gsw.de

Branche: Real Estate
ISIN: DE000GSW1111
WKN: GSW111
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing