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DIC Asset: Completion of Bienenkorbhaus Building now on the Finishing Stretch

 ​DGAP-News DIC Assets​

DIC Asset AG / MiscellaneousRelease of a Corporate News, transmitted by DGAP - a company of EquityStoryAG.The issuer / publisher is solely responsible for the content of this announcement.----------------------------------------------------------------------DIC Asset AG just completed the restoration and restructuring work on thehistoric Bienenkorbhaus building on Frankfurt’s boulevard Zeil on schedule.Meanwhile, 80 percent of altogether 10,500 sqm in commercial floor space(thereof 3,500 sqm retail and 7,000 sqm office space) have already been letand turned over to the new tenants. Main tenants with a 15-year lease eachare Ludwig Görtz GmbH and Frankfurter Sparkasse. The most recent tenant isProcter & Gamble, having rented office space on two floors. Among the otherresidents of the complex is Deutsche Angestelltenkrankenkasse (DAK). Thegrand opening is scheduled for April 2009.The total investment volume comes to EUR 75 million. DIC Asset AG acquiredBienenkorbhaus together with Morgan Stanley Real Estate Funds (MSREF) aspart of the real estate portfolio of Frankfurter Sparkasse in late 2004.Originally negotiated up to the end of 2008, the underwriting banksextended the outside financing for the remaining portfolio in an amount ofEUR 62 million through 2010. This helped to further push down the company’s– anyway low – refinancing rate. Aside from budget considerations, thislays a solid foundation for the unhurried completion and marketing theproperty.Ulrich Höller, CEO of DIC Asset AG, had this to say: 'In spite of thedifficult market environment, we managed to implement our restructuring andletting plans successfully and on schedule, and simultaneously to acquirefirst-rate tenants. The new Bienenkorbhaus will be a boon to downtownFrankfurt.'About DIC Asset AG Established in 2002, DIC Asset AG, with registered office in Frankfurt amMain (WKN 509840 /ISIN DE0005098404), is a real estate company that focusesexclusively on investing in German commercial real estate and maximisingearnings from its investments. DIC Asset AG's real estate portfoliocurrently includes about 340 properties with a combined floor space ofabout 1.2 million sqm. The real estate portfolio is divided into threesegments: The Core portfolio includes the proprietary portfolio held on along-term basis and offering stable, attractive rental yields; theValue-Added portfolio contains real estate with promising performancepotential over the medium term; while the Opportunistic Co-Investmentsportfolio is comprised of real estate investments that have a morepronounced risk/return profile, which are placed with third partiesfollowing a repositioning pursuant to customised business plans. Realestate assets under management currently amount to approx. EUR 3.5 billion.DIC Asset AG has been listed on the SDAX index since June 2006. DIC in Frankfurt:With activities nationwide, DIC specialises in the acquisition,development, and operation of commercial real estate. In Frankfurt, thecompany collaborated in several instances in the positive reshaping of thecityscape. The best known of these are the Grünhof building onEschersheimer Landstrasse across from police headquarters, and the new seatof the municipal library next to Kleinmarkthalle. At present, DIC ishelping to reorganise the former Degussa area under the name 'MainTor' inline with an urban development scheme that will open the estate towardadjacent downtown areas of Frankfurt and toward the river Main. Investor Relations:Ina LackGrünhof · Eschersheimer Landstraße 22360320 Frankfurt am MainFon. +49-69-9454858-58Fax 15.01.2009  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       DIC Asset AG              Eschersheimer Landstr. 223              60320 Frankfurt              DeutschlandPhone:        +49 69 9454858-0Fax:          +49 69 9454858-99E-mail:       info@dic-asset.deInternet:     www.dic-asset.deISIN:         DE0005098404WKN:          509840Indices:      S-DAXListed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr              in Berlin, Hannover, Stuttgart, München, Hamburg, Düsseldorf End of News                                     DGAP News-Service ---------------------------------------------------------------------------