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DGAP-Ad-hoc: PATRIZIA Immobilien AG: doubles revenues and earnings

In the first quarter of 2006, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) more than doubled its revenues and earnings against the same period a year ago.

Driven primarily by higher receipts from the sale of real estate, revenues stood at EUR 29.9 million, up from EUR 13.7 million in the first quarter of 2005.

Since personnel and other operating expenses increased at a substantially lower rate, the company was able to report earnings before tax and interest (EBIT) of EUR 7.2 million, against EUR 3.0 million a year earlier.

Net profit of EUR 3.6 million was generated in the first three months of the current fiscal year, against EUR 1.7 million in the first quarter of fiscal 2005.

The Group's Investments and Services segments both had a hand in this successful performance. The Investments segment contributed EUR 27.9 million and the Services segment EUR 2.0 million to total revenues.

PATRIZIA Immobilien AG expects this pattern of growth to continue in the second quarter of 2006. Visit www.patrizia.ag to read the full interim report for the first quarter of 2006.

The Managing Board
Augsburg, May 15, 2006

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

Financial News transmitted by DGAP

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

Ende of News - DGAP News-Service

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