Vivacon AG

euro adhoc: Vivacon AG
VIVACON AG: Bookbuilding for VGP PLC planned to begin on Friday 9th June 2006

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Cologne, 8th May 2006. VIVACON AG (ISIN DE0006048911) announces that Isle of Man-based Vivacon German Properties PLC (VGP PLC), of which VIVACON AG is the sponsor, plans to begin the proposed placement of shares on Friday, 9th June 2006. The placement, with a total volume of up to EUR 300 million, will be in the form of a private placement to institutional investors. Trading on the AIM segment of the London Stock Exchange is expected to begin before the end of June 2006. The IPO consortium consists of Credit Suisse and Lehman Brothers as Joint Bookrunners. In order to ensure a rapid investment of proceeds of the offer and thus to maximise returns, VGP PLC has decided to target an IPO volume of up to EUR 300 million.

VGP PLC plans to invest the equity, combined with additional bank debt, in profitable residential real estate portfolios in Germany. In order to do this, VGP PLC will rely on the knowledge and expertise of VIVACON AG. VIVACON AG will offer VGP PLC residential real estate portfolios in the form of leaseholds, according to its business model. VIVACON AG has already identified a pipeline of potential portfolios and expects to offer VGP PLC two portfolios with a total volume of approximately EUR 184 million directly following Admission.

Vivacon Real Estate Management GmbH, a fully-owned subsidiary of VIVACON AG, has been appointed as asset manager to VGP PLC. Moreover, VIVACON AG intends to invest in 10% of the share capital of VGP PLC in the IPO. Through its investment, VIVACON AG will receive potential future dividends as a shareholder alongside the recurring asset management fees earned through its subsidiary, Vivacon Real Estate Management GmbH, both of which will contribute to greater earnings visibility in the future.

Furthermore, VIVACON AG announces that the partnership with the North American pension fund which was announced in 2005 has been terminated amicably by mutual consent.

Not for distribution in the United States, Canada, Australia, Japan, France or Italy

This document does not constitute an offer for sale of shares, neither in the United States, nor any other jurisdiction. The shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended or under the securities laws of the individual states of the United States and must not be offered or sold in or be delivered to the United States. It is not intended to register the offering or any part thereof in the United States or to conduct a public offering in the United States.

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ots Originaltext: Vivacon AG
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Further inquiry note:
For further Information:
Sven Annutsch
Head of Corporate Finance
Tel: + 49 221 130 5621 630

Lars Schriewer
Director Communication
Tel: + 49 221 130 5621 631

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 130 5621 950

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    CDAX, SDAX, Prime All Share, Classic All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / official dealing

Weitere Meldungen: Vivacon AG

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