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Ad-hoc: Alfred Hoschek resigns from the PATRIZIA Immobilien AG Management Board

The PATRIZIA Immobilien AG Supervisory Board today approved Alfred Hoschek’s request to terminate ahead of time his Management Board contract as of November 30, 2008.

At his own request, Alfred Hoschek is stepping down after 15 years of being with the Company, six of which have been on the Management Board, in order to dedicate more time to his private plans for the future and to his activities for non-profit foundations. A settlement has not been concluded. Alfred Hoschek will remain with the Company in a consultant capacity and as a shareholder.

Alfred Hoschek held the function of CIO (Chief Investment Officer) on the PATRIZIA Immobilien AG Management Board. This position on the Managing Board will not be refilled. The responsibilities allocated to Alfred Hoschek will be integrated into the areas of responsibility of the Chief Financial Officer and the Chief Operating Officer. In the future, Arwed Fischer (CFO) will be responsible for the areas of finance, financing and investor relations. The responsibilities of Klaus Schmitt (COO) will consist of investment, legal affairs and the operational segments. With Wolfgang Egger (CEO), responsible for strategy, communication, marketing and HR, the PATRIZIA Immobilien AG Management Board will consist of three members following the reorganization.

In his 15 years with PATRIZIA, Alfred Hoschek played a decisive role in shaping the Company and its development. The Management Board and the Supervisory Board wish to thank Alfred Hoschek for his long standing and positive collaboration and wish him the very best in all his future endeavors.

About the Company:
PATRIZIA Immobilien AG is an integrated real estate group with more than 20 years’ experience in the German real estate market. Its business activities include the purchase, value optimization and placement of residential and commercial real estate. The corporate activity of PATRIZIA Immobilien AG focuses on residential real estate. PATRIZIA Immobilien AG is listed in the Deutsche Börse Prime Standard and is a member of the SDAX.

Management Board
Augsburg (Germany) – November 10, 2008.

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg 
Germany

Listing:  Frankfurt Official Market (Prime Standard)
ISIN:  DE000PAT1AG3
SIN:  PAT1AG

Contact:
Investor Relations    
Claudia Kellert

Phone:+49 (0) 821 5 09 10-360
Fax:+49 (0) 821 5 09 10-399

investor.relations@patrizia.ag 

 

Press
Andreas Menke

Phone:+49 (0) 821 5 09 10-655
Fax:+49 (0) 821 5 09 10-695

presse@patrizia.ag  

 

Language:English
Issuer:PATRIZIA Immobilien AG
 Fuggerstraße 26
 86150 Augsburg
 Germany
Phone:+49 (0)821 - 509 10-000
Fax:+49 (0)821 - 509 10-999
E-mail:investor.relations@patrizia.ag
Internet:www.patrizia.ag
ISIN:DE000PAT1AG3
WKN:PAT1AG
Indices:SDAX
Listed:Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart

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