DGAP-Adhoc

PATRIZIA Immobilien AG: PATRIZIA Immobilien AG plans to issue bonus shares instead of a dividend payment

PATRIZIA Immobilien AG  / Key word(s): Corporate Action/Capital Increase

20.03.2012 19:39

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---

 Capital increase from retained earnings
 Issue ratio of 10:1
 Increase in equity capital of around 5.2 million new shares

Augsburg, March 20, 2012. The Supervisory Board and Managing Board of
PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) have decided to propose to the
Annual General Meeting on June 20, 2012, that the net profit of PATRIZIA
Immobilien AG for 2011 be entirely carried forward to a new account and
that a capital increase from retained earnings be resolved by issuing bonus
shares. This will increase equity capital by converting retained earnings.
In the course of this measure, each PATRIZIA shareholder will receive one
additional new share (bonus share) for every ten existing shares. The
shareholders are not required to make any contribution.

If the Annual General Meeting of PATRIZIA Immobilien AG agrees to the
measure, the capital increase will be performed by issuing 5,213,000 new
registered no-par value shares. The shares will be issued to the company´s
shareholders in a ratio of 10:1. This measure will have no influence on the
amount of the shareholders´ funds since it merely constitutes a regrouping
of components within shareholders´ funds. Equity capital will increase from
a current total of EUR 52,130,000 to EUR 57,343,000, divided into
57,343,000 registered no-par value shares. The new shares will carry
dividend rights from the beginning of the 2012 fiscal year.

The reason for this decision is to conserve PATRIZIA´s liquidity in favor
of expansion in the form of co-investments and at the same time to increase
the liquidity of the share. The Managing Board and the Supervisory board
think that there has been a significant improvement in the investment
climate in the German real estate market and that PATRIZIA will be able to
take advantage of attractive investment opportunities in the near future
and thereby materially increase the value of the company. At the same time,
they look set to reject the option of a cash capital increase to finance
new investments for the next two years. The retained cash resources of
around EUR 4.2 million could be used to float an additional co-investment
with a total volume of around EUR 150 million with a 10% stake in equity
capital.

The Managing Board
Augsburg, March 20, 2012

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg (Germany)

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

Contact

Investor Relations
Verena Schopp de Alvarenga
Tel: [phone]
[e-mail]

Press
Andreas Menke
Tel: [phone]
[e-mail]

20.03.2012 DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---

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

End of Announcement                             DGAP News-Service

---