Bau-Verein zu Hamburg Aktien-Gesellschaft reporting increase in revenues and operating profit

Bau-Verein zu Hamburg AG / Half Year Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

(Hamburg, 21 August 2008) Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg (Bau-Verein), which is a member of the TAG Tegernsee Immobilien- und Beteiligungs-Aktiengesellschaft Group, closed the second quarter of 2008 with further growth in its operating business. With the extensions made to its real estate portfolio and increase in rental income, it achieved a substantial increase in revenues over the year-ago period in tandem with improved profitability. Revenues climbed by 33 percent to EUR 32.6 million (previous year: EUR 24.5 million). Earnings before taxes rose from EUR 3.6 million in the previous year to EUR 6.1 million.
Given this favourable performance, management still expects to close the year with a profit at the EBT level. However, the difficult conditions in the capital and financial markets will probably result in a figure slightly down on the previous year.

Further details are contained in the press release which is being published at the same time. 

Bau-Verein zu Hamburg AG
Head of Investor and Public Relations
Kirsten Schleicher
Tel. +49 (0) 40 380 32 300
Fax +49 (0) 380 32 388
pr@bau-verein.de

21.08.2008  Financial News transmitted by DGAP
 
Language:     English
Issuer:       Bau-Verein zu Hamburg AG, Steckelhörn 5, 20457 Hamburg, Deutschland
Phone:        +49 (0)40 380 32-0
Fax:          +49 (0)40 380 32-388
E-mail:       info@bau-verein.de
Internet:     www.bau-verein.de
ISIN:         DE0005179006
WKN:          517900
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart  
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