conwert Immobilien Invest SE: conwert increases stake in KWG Kommunale Wohnen AG to approx. 76%

Vienna, 6 March 2013 (pta007/06.03.2013/08:25 UTC+1) -
The Austrian ATX-traded conwert Immobilien Invest SE (conwert) increases its stake in the Hamburg-based company KWG Kommunale Wohnen AG (KWG), which is listed on the Entry Standard of the Frankfurt Stock Exchange, to 75.7%. conwert acquired a majority stake of approx. 60% in KWG in December 2012. Since then, the stake has gradually been increased in several tranches. The average purchase price of the additional 15.7% is close to KWG's current share price and corresponds to a discount of approx. 40% of KWG's expected NAV for 2012. Thus, the price for the additional shares remains significantly below the purchase price of the original majority stake, increasing the total implied yield from 8.4 to 8.8%.

By acquiring the majority stake in KWG, conwert has increased its existing German portfolio by approx. 66% to almost 24,500 units. In view of conwert's strategic focus as a portfolio holder, KWG possesses extensive expertise in the German market and know-how in the long-term appreciation of residential properties with its internal asset and property management.

As previously announced, conwert will fully consolidate KWG in the first quarter of 2013.

This report contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented in this report for a variety of reasons.

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Emitter:	conwert Immobilien Invest SE Alserbachstraße 32 1090 Wien Austria
Contact Person:	Dr. Clemens Billek
Phone:	+43 / 1 / 521 45-700
E-Mail:	cwi@conwert.at
Website:	www.conwert.at
ISIN(s):	AT0000697750 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)