EANS-News: Fair Value REIT-AG / Fair Value REIT-AG increases operating result and proposes dividend of EUR 0.10 per share

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annual report/annual result

München (euro adhoc) - Fair Value REIT-AG increases operating result
and proposes dividend of EUR 0.10 per share * Funds from operations
(FFO) up 8% on forecast to EUR 5.6 million (previous year: EUR 5.5
million) * Consolidated net income of EUR 1.2 million (previous year:
EUR 4.6 million) * Proposed dividend of EUR 0.10 per share (previous
year: EUR 0.08 per share) * REIT equity ratio increases to 52.6%
(previous year: 50.7%)

Munich, March 27, 2013 - Fair Value REIT-AG achieved net sales of EUR
13.6 million for the financial year 2012 (previous year: EUR 13.4
million), while net rental income for the Group came in at EUR 8.4
million (previous year: EUR 8.8 million). The operating result (EBIT)
was recorded at around EUR 5.9 million after EUR 6.7 million in the
previous year. Income from participations totalled EUR 1.2 million
(previous year: EUR 3.2 million). This fall is primarily attributable
to the reduced market values of two properties.

Consolidated net income adjusted for changes in market value and
other one-off effects (in accordance with EPRA), which is also funds
from operations (FFO), totalled EUR 5.6 million or EUR 0.60 per
share. This was around 2% up on the previous year figure of EUR 5.5
million. The forecast of EUR 5.2 million, most recently revised
upwards in August 2012, was therefore exceeded by 8%.

In the year under review, however, consolidated net income fell to
EUR 1.2 million after EUR 4.6 million in the previous year. The
reduction by around EUR 3.4 million was attributable to the valuation
loss at individual properties, to increased letting costs and to
changes of the market values of interest rate derivatives recognised
in profit or loss.

On the balance sheet date, consolidated equity came in at EUR 77.4
million (December 31, 2011: EUR 76.9 million). The balance sheet net
asset value increased from EUR 8.25 to EUR 8.30 per share in
circulation. Taking into consideration the minority interests in
subsidiaries, the equity ratio pursuant to § 15 of the REIT Act rose
to 52.6% of immovable assets (December 31, 2011: 50.7%).

Retained earnings reported in the non-consolidated financial
statements of Fair Value REIT-AG under the German Commercial Code
(HGB) reached EUR 1.0 million (previous year: EUR 0.8 million). The
Management Board and Supervisory Board will propose a dividend
payment of EUR 0.10 per share for the financial year 2012 at the
Annual General Meeting on May 16, 2013. This represents a pay-out
ratio of 93.6% of retained earnings.

Frank Schaich, CEO of Fair Value REIT-AG, commented on the Group's
business development: "In 2012, Fair Value REIT-AG was again able to
sustain the stable development of its operating business. High
occupancy rates averaging around 95% have shaped the results of all
business years since our listing on the stock exchange in 2007."

FFO of EUR 5.3 million or EUR 0.57 per share is anticipated for 2013,
with forecasts suggesting an adjusted consolidated net income figure
of EUR 5.6 million or EUR 0.60 per share for Fair Value in 2013.

"In the financial years 2013 and 2014, our total revenues will fall
as planned, as we are aiming to make the most of the high demand for
real estate already seen in 2012 for further property sales. In
addition, our forecast plans for renewal agreements at partially
lower market rents. These falls are however largely offset due to the
continued highly favourable interest rate level, so that we can also
anticipate FFO results on a par with previous years in the coming
couple of years," explains Schaich, referring to the Company's
guidance.

With respect to the non-consolidated financial statements of Fair
Value REIT-AG under the German Commercial Code, the Management Board
is anticipating net income which enables a rising dividend payment of
EUR 0.12 per share in 2013 and 2014.

The Annual Report with the complete consolidated financial statements
of Fair Value REIT-AG for the financial year 2012 is now available in
the Financial Reports section of www.fvreit.de.

Selected financial indicators of Fair Value REIT-AG

2012 2011*
IFRS-Consolidated net income EUR 1.2 million EUR 4.6 million
IFRS-EPS / result per share EUR 0.13 EUR 0.49
Adjusted consolidated net income
(in accordance with EPRA)/FFO EUR 5.6 million EUR 5.5 million
EPRA EPS /FFO per share EUR 0.60 EUR 0.59

12/31/2012 12/31/2011
Net asset value per share EUR 8.30 EUR 8.25
Equity ratio within the meaning
of section 15 of the REIT act 52.6% 50.7%

*Year adjusted after voluntary change to the accounting method in
line with IAS 8 (see Note 2b in the notes section of the Annual
report 2012)

Corporate Profile

Fair Value REIT-AG, based in Munich, focuses on the acquisition,
leasing, property management and sale of commercial properties in
Germany. At the core of its investment activities are office and
retail properties in German regional centres.

As of December 31, 2012, Fair Value's share of the total portfolio
amounted to around EUR 213 million. This portfolio had an occupancy
rate of 94.4% of the achievable rents at full occupancy of EUR 18.9
million per annum. As of December 31, 2012, the weighted remaining
term of the leases was 5.7 years. Around 43% of the potential rent
relates to retail floor space, 42% to office space and 15% to other
types of use.

Further inquiry note:
Fair Value REIT-AG
Frank Schaich
Tel. 089-9292815-10
Fax. 089-9292815-15
e-mail: schaich@fvreit.de

end of announcement euro adhoc
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company: Fair Value REIT-AG
Leopoldstraße 244
D-80807 München
phone: +49 (0) 89 9292815 01
FAX: +49 (0) 89 9292815 15
mail: info@fvreit.de
WWW: http://www.fvreit.de
sector: Real Estate
ISIN: DE000A0MW975
indexes: CDAX, Classic All Share, Prime All Share, RX REIT All Share Index,
RX REIT Index
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, regulated
dealing/prime standard: Frankfurt
language: English