Bau-Verein zu Hamburg AG with a substiancial increase in consolidated EBT

Bau-Verein zu Hamburg AG / Preliminary Results/Final 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.

Ad hoc bulletin pursuant to Section 15 of the German Securities Trading Act
Preliminary figures for fiscal 2006

Bau-Verein zu Hamburg with a substantial increase in consolidated EBT to EUR 16.4 million

Bau-Verein zu Hamburg Aktien-Gesellschaft, Hamburg (Bau-Verein), which is a member of the TAG Tegernsee Immobilien- und Beteiligungs-Aktiengesellschaft Group, closed fiscal 2006 with record IFRS earnings. Earnings before tax (EBT) surged more than fourfold from EUR 3.9 million in the previous year to EUR 16.4 million in 2006, with consolidated post-tax earnings rising from EUR 1.0 million to EUR 14.6 million.

As expected, sales in 2006 contracted from EUR 136.8 million to EUR 78.6 million as a result of the focus on portfolio management. Sales from facility and asset management rose from EUR 24.1 million to EUR 29.4 million, while total proceeds of EUR 49.3 million were generated from the sale of properties.

Active asset management and the reclassification of properties from available-for-sale assets to investment property resulted in an increase of EUR 12.0 million in value. In addition, the sustained positive trends in he German real estate market contributed to the Company´s strong performance in 2006.

Net asset value (NAV), which the company is disclosing for the first time as of December 31, 2006, stands at EUR 7.18 per share.
The figures stated here for the financial year ending December 31, 2006 are preliminary subject to approval and adoption by the Supervisory Board.

Bau-Verein zu Hamburg
Aktien-Gesellschaft

Hamburg, April 2, 2007

DGAP 02.04.2007
 
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
www:          www.bau-verein.de
ISIN:         DE0005179006
WKN:          517900
Indices:      
Listed: Amtlicher Markt in Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin-Bremen, Düsseldorf, München, Stuttgart  
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