DGAP-News: Fair Value REIT-AG: Additional rental agreement signed for 'Airport Office II', Düsseldorf

Fair Value REIT-AG / Miscellaneous

26.03.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------

- ProLogis Germany Management GmbH has rented 1,460 m² of office space in
direct proximity to the airport
- Occupancy at 42% four months prior to completion

Munich, March 26, 2008 – Fair Value REIT-AG has rented 1,460 m² of office
space in 'Airport City' in Düsseldorf. Tenant is ProLogis Germany
Management GmbH, which is the German subsidiary of the world's largest
owner, manager and developer of logistics premises. According to the
tenant’s own information, a total of around US$ 36.3 billion is currently
under management. It will use these premises as its 'Headquarter Northern
European Region'. With this letting - four months prior to completion of
the 'Airport Office II' office complex - 42% of the total space has already
been let. In addition, Fair Value is also in advanced-stage negotiations
with several other parties interested in renting the remaining space.

In October 2007, just three months after construction started, Fair Value
acquired the attractive property in the direct proximity of the Düsseldorf
International Airport terminal building, and thus took over responsibility
for letting the property. The building is scheduled to be completed in July
2008 and will have a total rental area of 4,671 m² with 89 underground
parking spaces and 14 outdoor parking spaces.

Frank Schaich, Fair Value REIT-AG's CEO believes that Fair Value REIT-AG's
early involvement in this project at Düsseldorf International Airport was
the right decision and is looking to the future with optimism: 'We are
experiencing strong interest in office space at this location, in
particular as a result of the property's direct proximity to the airport.
This makes us very confident that the property will be fully let by the
time it is completed in mid-July of this year.'


Company profile

Munich-based Fair Value REIT-AG focuses on the acquisition, rental,
property management and sale of commercial properties in Germany. Its
investment activities focus primarily on offices, logistics and retail
properties in German regional centers. As a REIT-AG, Fair Value is not
subject to corporation or trade tax and benefits from the exit tax
privilege when purchasing properties. Fair Value's USP is that – in
addition to investing directly in real estate – it also acquires interests
in closed-end real estate funds.

In its 'Participations' segment Fair Value currently owns interests in 13
closed end real estate funds with a highly diversified portfolio of 49
properties. The rental area of this portfolio totals 422,503 m² and had a
market value of around EUR 558 million as of December 31, 2007 (Fair
Value's interest in this portfolio currently totals around EUR 225
million).

In its 'Direct Investments' segment, Fair Value acquired a portfolio of 32
commercial properties in the federal state of Schleswig-Holstein with a
rental area of 43,113 m², mostly used as bank branches. These properties
had a total market value of around EUR 50 million as of December 31, 2007.

As of December 31, 2007, the total portfolio which has a proportionate
market value of EUR 275 million for Fair Value (without the office building
in Düsseldorf) had an economic occupancy level of more than 96% of the
possible annual rent of around EUR 22 million. Around 47% of rental income
stems from offices, 40% from retail facilities, 8% is from logistics
facilities and 5% from other facilities.


Investor & Media Relations
cometis AG
Ulrich Wiehle
Tel.: +49(0)611 – 205855-11
Fax: +49(0)611 – 205855-66 
e-mail: wiehle@cometis.de


DGAP 26.03.2008 
---------------------------------------------------------------------------
Language:     English
Issuer:       Fair Value REIT-AG
              Leopoldstraße 244
              80807 München
              Deutschland
Phone:        +49 (0)89 9292 815-01
Fax:          +49 (0)89 9292 815-15
E-mail:       info@fair-value-reit.de
Internet:     www.fair-value-reit.de
ISIN:         DE000A0MW975
WKN:          A0MW97
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Stuttgart, München
End of News                                     DGAP News-Service
---------------------------------------------------------------------------