IMMOFINANZ has begun to increase its stake in subsidiary IMMOEAST. The enterprise is thus taking advantage of the sharp fall in the share price as a result of the recent stock market crisis to noticeably increase its stake in IMMOEAST.

IMMOFINANZ's stake in IMMOEAST is set to increase from 50.46 percent to up to 54.90 percent. The stake will be increased by purchasing shares on the stock exchange. The first purchases have already taken place over the past few days, and will, should the share price remain attractive, continue over the coming week and beyond.

The current situation is particularly attractive given that IMMOEAST shares are traded at a significant discount. The net asset value (NAV) reached 10.20 euro per share at the end of the 2006/07 business year on 30 April 2007. On Friday, IMMOEAST shares closed at 8.24 euro, or around 20 percent below this figure – and this is without factoring in a possible increase in asset value over the first quarter of the current business year.

“We currently see a unique opportunity to increase our stake in IMMOEAST at extremely attractive prices”, says IMMOFINANZ CEO Karl Petrikovics. “IMMOEAST is not in the least affected by the developments in the mortgage market and the money market. Profit development is excellent, the real estate markets are developing well and the prospects for growth in size and profits remain completely intact.”

IMMOEAST shares are also currently particularly attractive compared to other investment opportunities: “Increasing our stake in IMMOEAST promises better returns than direct real estate investments, as we are able to participate in a broadly diversified real estate portfolio at a discount of roughly 20 percent”, says Petrikovics.

This positive assessment of IMMOEAST shares is also shared by numerous investment banks that analyse IMMOEAST. Last Thursday, UniCredit (CA-IB) recommended buying the shares in a recent update of its evaluation, pointing to strong profit increases. A price target of around 12 euro is named for the next twelve months. This lies 3.76 euro or around 46 percent above the current share price.