EANS-News: GSW Immobilien AG / Dr. Bernd Kottmann to become new head of GSW

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Board of Directors (Appointments and Changes)

Berlin (euro adhoc) - Dr Bernd Kottmann to become new head of GSW

- Long-time MDax chairman to manage GSW
- GSW plans to use market momentum for long-term growth
- Thomas Zinnöcker leaving GSW at his own request as announced

Berlin, 18 March 2013. Berliner residential property specialist GSW
Immobilien AG is setting the course for long-term, dynamic company
growth. To this end, it has appointed experienced real estate and
MDax expert Dr Bernd Kottmann (55) as its new CEO effective 16 April
2013. In his career, Kottmann has handled a real estate transaction
volume of more than EUR10 billion in numerous asset and share deals.
He has more than 25 years of experience as a Board of Management
and Supervisory Board member for stock-listed real estate companies.

The current CEO, Thomas Zinnöcker, is leaving the company at his
own request effective 15 April 2013 to explore new career ambitions.
GSW had announced his intentions in an ad hoc press release dated
11 March 2013.

Both personnel measures were approved during an extraordinary meeting
of GSW's Supervisory Board held today.

"In the last eight years, Mr Zinnöcker has transformed GSW from a
municipal enterprise to a private equity holding company to a
profitable MDax company with lean management. He has put
together an experienced and professional management team that is
well suited for the opportunities and challenges of the future even
after his departure. The Supervisory Board sincerely thanks him for
this", noted Supervisory Board Chairman Dr Eckart John von Freyend.

GSW will continue to follow its strategic course to growth under the
new CEO. During his term as Board of Management member at IVG
Immobilien AG, Kottmann served as a COO for the real estate
business and as the CFO of an MDax company. There he was primarily
in charge of establishing IVG's European real estate portfolio.
He acquired and integrated two northern European stock-listed real
estate companies into the IVG Group. He also took the lead in the
successful acquisition of the cavern business from the Federal
Republic of Germany.

Prior to that, he first served as member of the Board of Management
at Harpener AG, Dortmund, in charge of socially responsible
tenant privatisation for apartments and property development for
new apartment construction. After Harpener AG he was managing
director of Deutsche Babcock Bau GmbH, Oberhausen; at the same time
he was the Board of Management member for Germania Epe AG,
Gronau/Oberhausen. There, too, Kottmann was in charge of residential
management matters for transactions, property development and new
construction.

"With Dr Kottmann we are welcoming an experienced personality
with capital market, portfolio, financing and residential market
expertise. He is familiar with all phases of the real estate and
capital markets, which is not common in Germany. He meets all of
GSW's requirements for securing further corporate growth and
independence", explained John von Freyend.

As CEO, Kottmann will develop GSW's future strategy alongside
COO Jörg Schwagenscheidt and CFO Andreas Segal.

Contact

GSW Immobilien AG
Charlottenstrasse 4, 10969 Berlin, Germany

Press Investor Relations
Thomas Rücker Sebastian Jacob
E-mail: thomas.ruecker@gsw.de E-mail: sebastian.jacob@gsw.de
Tel.: +49. (0) 30. 25 34-13 32 Tel.: +49. (0) 30. 25 34-1882
Fax: +49. (0) 30. 25 34-19 34 Fax: +49. (0) 30. 25 34 233-19 60

About GSW

With a portfolio of approximately 58,500 residential units, GSW
Immobilien AG is one of the leading private residential property
companies in Berlin. GSW's corporate strategy is focused on the
long-term management of rental apartments, applying a systematic
approach aimed at increasing both customer satisfaction and
operating efficiency. As of 31 December 2011, the GSW property
portfolio of approximately 53,000 residential units was valued at
around EUR2.9 billion.

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

end of announcement euro adhoc
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company: GSW Immobilien AG
Charlottenstr. 4
D-10969 Berlin
phone: +49 30 68 99 99 0
FAX: +49 30 68 99 99 999
mail: kundenservice@gsw.de
WWW: http://www.gsw.de
sector: Real Estate
ISIN: DE000GSW1111
indexes: MDAX
stockmarkets: regulated dealing: Berlin, regulated dealing/prime standard:
Frankfurt
language: English