GSW Immobilien AG

EANS-Adhoc: GSW Immobilien AG places shares at EUR 19.00

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.


GSW Immobilien AG places shares at EUR 19.00

Berlin, 14 April 2011 - GSW Immobilien AG ("GSW" or "Company"), its selling shareholders and syndicate banks have set the issue price for the offered shares at EUR 19.00 per share. A total of 24,613,024 shares were placed, including 6,052,630 new shares from a capital increase, 15,350,000 shares from the holdings of the selling shareholders and 3,210,394 shares from the holdings of the selling shareholders in connection with an over-allotment. The total issue volume amounted to approximately EUR 468 million. The number of new shares was settled at the end of the offer period to the effect that the Company generated gross proceeds of approximately EUR 115 million.

The shares of GSW Immobilien AG will start trading on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange and on the Regulated Market of the Berlin Stock Exchange on 15 April 2011. The free float will amount to approximately 60 percent after the placement assuming full exercise of the over-allotment option. In the context of the offer, all selling shareholders have agreed to market protection agreements, i.e. a lock-up period of six months after trading in the offered shares has started.

Media Relations Thomas Ruecker GSW Immobilien AG Charlottenstrasse 4 10969 Berlin, Germany

Tel.:   +49-30-25 34 13 32
Fax:    +49-30-25 34 19 34

Investor Relations Sebastian Jacob GSW Immobilien AG Charlottenstrasse 4 10969 Berlin, Germany

Tel.:   +49-30-25 34 18 82
Fax:    +49-30-25 34 19 09

Disclaimer This ad hoc announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities.

The shares have not been or will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

This ad hoc announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2) (a) to (d) of the Order (all such persons are referred to herein as "relevant persons"). This ad hoc announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this ad hoc announcement or any of its contents. Any investment or investment activity to which this ad hoc announcement relates is available only for relevant persons and will be engaged in only with relevant persons.

end of announcement                               euro adhoc


Sebastian Jacob
Tel.: +49 30 25 34- 18 82

Branche: Real Estate
ISIN: DE000GSW1111
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing

Weitere Meldungen: GSW Immobilien AG

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