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Abonner AIG International Real Estate GmbH&Co. KGaA

AIG International Real Estate GmbH&Co. KGaA

euro adhoc: AIG International Real Estate GmbH&Co. KGaA
Mergers - Acquisitions - Takeovers
AIG International Real Estate Announces Purchase of Industrial Property (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Frankfurt am Main, December 31, 2003 - AIG International Real Estate
GmbH & Co. KGaA ("AIRE") announced today a EUR 23.5 million equity
investment in Auto Parts Park, a manufacturing and warehouse facility
comprising approximately 92,700 square meters in Lozorno, near
Bratislava, Slovakia.
AIRE group companies purchased 100% of the ownership interests in
Auto-priemyselny Park s.r.o. ("APP"), a Slovakian limited liability
company.  APP owns the three buildings on the site and has a 98-year
lease on the land.  The buildings are currently 100% leased by auto
parts suppliers for the nearby Volkswagen manufacturing plant, which
manufactures the new VW Tuareg and other models.
The buildings and the land lease held by APP were valued at
approximately EUR 57.3 million, and are partially financed by a EUR
34 million 15-year mortgage, which is secured by APP’s assets and is
non-recourse to AIRE.
The transaction includes a forward contract with the developers of
the existing buildings to develop an additional two buildings on the
remaining land.
The previous owner and developer of APP was AIG/LINCOLN Eastern
Europe (Slovakia and Czech Republics) Limited Partnership, one of the
largest property developers in Central and Eastern Europe.  The
transaction was approved by AIRE’s Supervisory Board (Aufsichtsrat),
both to authorize an investment of more than 20% of AIRE’s assets in
a single investment and because the seller was an affiliate company
of American International Group, Inc.
Further Information:
www.aig-ire.de
Notice:
The shares of AIG International Real Estate GmbH & Co. KGaA are not
registered under the US Securities Act of 1933.
end of announcement        euro adhoc 31.12.2003

Further inquiry note:

AIG International Real Estate Gmbh & Co. KGaA
Conradin Schneider
Tel: +49 (0)69 97113225
E-Mail: info@aig-ire.de

Branche: Financial & Business Services
ISIN: DE0006344211
WKN: 634421
Index: CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / free trade