DGAP-News

DIC Asset AG with strong operative business - Seite 3

years at the end of 2013, reflecting the lower volume of financings and
refinancing operations.

The net debt equity ratio as at 30 September 2014 declined slightly, to
32.4 per cent (31 Dec 2013: 32.6 per cent), largely due to the dividend
distribution and the raising of an additional EUR 125 million via the third
bond issue. Accordingly, the net debt ratio based on the portfolio market
value (loan-to-value ratio) rose by 0.7 percentage points, to 67.6 per cent
(31 Dec 2013: 66.9 per cent).

The net interest result totalled EUR -52.7 million as at 30 September 2014
(9m 2013: EUR -38.5 million). Interest expenses rose to EUR 60.2 million
(9m 2013: EUR 46.5 million), due to the previous year's portfolio
acquisition and the EUR 125 million increase in the volume of bonds
outstanding. Early repayment of the first bond issue in mid-October 2014
led to a non-recurring effect of EUR 2.0 million as at 30 September 2014.
Interest income was down EUR 0.4 million year-on-year, to EUR 7.5 million,
reflecting a lower level of placements.

Ulrich Höller, CEO of DIC Asset AG, commented on the results: "We have
taken all the necessary steps to achieve our targets for the year. Thanks
to our improved earnings base and financing structure, we will close 2014
with another attractive result for our shareholders."

For more information on DIC Asset AG, please visit the Company's website
www.dic-asset.de, where the nine-month report is also available.


About DIC Asset AG:

Established in 2002, DIC Asset AG, with registered offices in
Frankfurt/Main, is a real estate company with a dedicated investment focus
on commercial real estate in Germany, pursuing a return-oriented investment
policy. Real estate assets under management currently amount to approx. EUR
3.4 billion, comprising around 250 properties. The Company's investment
strategy is geared to the continued development of a high-quality, highly
profitable and regionally diversified portfolio. The real estate portfolio
is structured in two segments: the Commercial Portfolio (EUR 2.2 billion)
comprises existing properties with long-term rental contracts generating
attractive rental yields. The Co-Investments segment (pro-rata share of EUR
0.2 billion) comprises fund investments, joint-venture investments, and
interests in development projects. DIC Asset AG provides a direct service
to tenants through its own real estate management teams in six branch
offices located at the regional hubs within the portfolio. This provides
DIC Asset AG with an edge in terms of market presence and expertise, and