DIC Asset AG / Quarter ResultsRelease of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) todaypresented its interim report for the first quarter of the 2008 financialyear. With consolidated net income of EUR 3.3 million (Q1 2007: EUR 4.9million) and a higher operating profit (EBDA) of EUR 10.2 million (Q1 2007:EUR 9.0 million), DIC Asset AG successfully generated an attractive return,matching its projections in a market environment that continues to bechallenging. The decline in net income compared to the first quarter of2007 was largely due to higher financing expenses as well as gains ondisposals in the previous year.At EUR 39.1 million, total revenues for the first quarter of 2008 almostdoubled compared to the same period of the previous year (Q1 2007: EUR 21.8million). Rental income was up strongly, by 78 per cent, to EUR 33.8million (Q1 2007: EUR 19.0 million), reflecting the benefit of thesignificant expansion in the real estate portfolio to more than 1.3 millionsquare metres (comprising 64 per cent office space, 13 per cent retail, 4per cent hotels and restaurants, 16 per cent other commercial use such aslogistics and others, and 3 per cent residential).At the same time, the increase in total expenses, to EUR 17.2 million (Q12007: EUR 9.8 million) was clearly lower than revenue growth. The increasewas due to the expansion in operating activity, and to continued growth inthe real estate portfolio, from EUR 1.1 billion (Q1 2007) to EUR 2.0billion (Q1 2008). The fact that the increase in expenditure fell short ofearnings growth reflects enhanced profitability, and the successfulrealisation of synergy effects.DIC Asset AG’s total assets slightly increased, to EUR 2.3 billion as at 31March 2008.Long-term assets rose from EUR 1.9 billion to EUR 2.1 billion. Long-termfixed interest rate agreements or hedges are in place for 89 per cent offinancial debt of EUR 1.6 billion, with around 60 per cent having amaturity of over five years. Maturities in the years 2008 and 2009 onlyamount to approx. EUR 16 million and EUR 36 million, respectively.EBITDA (earnings before interest, income taxes, depreciation andamortisation) rose by 78 per cent, to EUR 28.8 million (Q1 2007: EUR 16.2million). Cash flow from operations doubled to EUR 31.9 (Q1 2007: EUR 15.7million), whilst cash flow from operating activities (after interest andtaxes) rose by 16 per cent, to EUR 10.4 million (Q1 2007: EUR 9.0 million).FFO (funds from operations, comprising earnings before depreciation, taxes,profits from disposals and development projects) was up year-on-year, toEUR 11.0 million (Q1 2007: EUR 10.4 million). Operating profit beforedepreciation and amortisation (EBDA) rose by 13 per cent, to EUR 10.2million, equivalent to operating profit per share of EUR 0.33 (Q1 2007: EUR0.31). Reflecting the development of consolidated net income, earnings pershare declined to EUR 0.11 (Q1 2007: EUR 0.17).Looking ahead on the current year 2008, DIC Asset AG plans to further growits business from the existing portfolio. This will be supported by activeasset and property management, together with realised profits from sales ofreal estate. DIC Asset AG will further expand its nationwide presence withthe opening of a Munich branch office. Approx. 124,000 square metres ofcommercial floor space – equivalent to annual rental income of EUR 13.5million – was let via the DIC ONSITE real estate management platform in2007. During the first three months of 2008, further new rentals amountingto around 49,000 square metres (generating EUR 5.8 million in annual rentalincome) were contracted via the platform. Investor Relations:Stephan GramkowGrünhof Eschersheimer Landstraße 22360320 Frankfurt am MainFon. +49-69-9454858-39Fax +49-69-9454858-99ir@dic-asset.de 13.05.2008 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, München, Stuttgart, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------