DGAP-News: DIC Asset AG / Key word(s): Quarter Results Q3: DIC Asset AG shows significant improvement of all key performance measures 12.11.2015 / 07:15 --------------------------------------------------------------------- Press Release Frankfurt, 12 November 2015 Q3: DIC Asset AG shows significant improvement of all key performance measures - FFO rises to EUR 36.8 million (9m 2014: EUR 35.4 million) - Consolidated profit for the period nearly tripled, to EUR 16.1 million (9m 2014: EUR 5.9 million) - Total property disposals of approximately EUR 220 million significantly exceeded projections (most recent guidance for 2015: EUR 180 million - Real estate management fees up by 25 per cent - Loan-to-value rate of 64.1 per cent declined significantly (31 Dec 2014: 65.9 per cent) - Forecast for FFO of EUR 48 million to EUR 50 million again confirmed - despite higher sales volume DIC Asset AG (German Securities ID A1X3XX / ISIN DE000A1X3XX4) today presented its interim report for the first nine months of the 2015 financial year. During the first nine months of 2015, DIC Asset AG generated funds from operations ("FFO" - defined as earnings before interest and taxes, excluding profits from disposals and development projects) of EUR 36.8 million. Despite lower rental income, FFO was up four per cent year-on-year as planned (9m 2014: EUR 35.4 million), largely driven by a higher contribution from the funds business, up by approximately 28 per cent, and an improved interest result. FFO per share rose to EUR 0.54 (9m 2014: EUR 0.52). Ulrich Höller, CEO of DIC Asset AG, commented on the results: "With its third-quarter figures, DIC Asset AG entered the home stretch towards achieving targets for the 2015 financial year. Our strategy has been implemented consistently and according to plan." At EUR 16.1 million, consolidated profit for the period was markedly higher than the previous year's level (9m 2014: EUR 5.9 million). This very strong increase was driven by higher profits on property disposals of EUR 14.1 million (9m 2014: EUR 1.0 million). Earnings per share amounted to EUR 0.23 (9m 2014: EUR 0.10). Gross rental income for the period amounted to EUR 104.1 million (9m 2014: EUR 110.7 million) - a 6 per cent decrease, as planned, which was attributable to disposals from the Commercial Portfolio. Net rental income of EUR 92.2 million was thus 7 per cent lower than for the same period of the previous year (9m 2014: EUR 99.2 million). DIC Asset AG realised year-to-date property disposals of approximately EUR 220 million, thus exceeding even the most recently increased full-year guidance of at least EUR 180 million. The disposals achieved an average mark-up of around 5 per cent over the most recently appraised market value. With the continuous increase in volume of disposals, DIC Asset AG continues to markedly reduce its leverage. Real estate management fees rose by around 25 per cent during the first nine months of the year, to EUR 4.5 million (9m 2014: EUR 3.6 million), largely driven by fund real estate management fees. These increased by EUR 0.6 million to reach EUR 3.3 million (9m 2014: EUR 2.7 million). The funds business continued to prosper during the first nine months of 2015. To date, further acquisitions of around EUR 91 million have been realised this year. With further purchases planned between now and the end of the year, the Company continues to anticipate an aggregate full-year volume of at least EUR 130 million. FFO contributions from fund real estate management and income from fund investments were up 28 per cent year-on-year, to EUR 5.1 million for the first nine months (9m 2014: EUR 4.0 million). DIC Asset AG's letting performance during the first nine months of 2015 comprised contracts generating aggregate annualised rental income of some EUR 13.6 million (9m 2014: EUR 16.3 million), comprising EUR 9.7 million in renewed rental agreements and EUR 3.9 million in new rentals. The vacancy rate stood at 11.8 per cent at the reporting date (30 September 2014: 11.5 per cent), reflecting planned contract expiries during the third quarter. Total financial liabilities declined to EUR 1.585 billion as at 30 September 2015, a reduction of approximately EUR 83 million compared to the end of the previous year (31 Dec 2014: EUR 1.668 billion). The average interest rate on financial debt in the form of bank loans declined to 3.5 per cent as at 30 September 2015 - down 40 basis points year-on-year (30 September 2014: 3.9 per cent). The average maturity of DIC Asset AG's financial debt rose markedly, due to refinancings during the first nine months of the year, from 4.0 years as at 31 December 2014 to 4.4 years. As a result of the ongoing optimisation of the Company's financing structure, the net equity ratio showed an increase of 180 basis points when compared to year-end 2014, to 35.2 per cent as at 30 September 2015 (31 Dec 2014: 33.4 per cent). The loan-to-value rate declined significantly compared to year-end 2014 to 64.1 per cent (31 Dec 2014: 65.9 per cent). The net interest result improved by 13 per cent to EUR -46.3 million, largely driven by continuous optimisation of the Company's financing structure and loan repayments after disposals (9m 2014: EUR -52.7 million). Substantial refinancings significantly reduced interest expenses to EUR 54.0 million (9m 2014: EUR 60.2 million). Interest income remained stable year-on-year, at EUR 7.7 million (9m 1014: EUR 7.5 million). Nine-month results affirm full-year guidance The performance for the first nine months of 2015 confirms DIC Asset AG's FFO forecast of EUR 48 million to EUR 50 million for the 2015 financial year even with higher sales volume achieved (2014: EUR 45.9 million). The Company projects rental income of between EUR 134 million and EUR 136 million for the full year. We expect as planned a vacancy rate of around 11 per cent for the overall portfolio. To achieve further growth in the funds business, DIC Asset AG plans to spend at least EUR 130 million on acquisitions. Year-to-date property disposals of EUR 220 million even exceeded the guidance of EUR 180 million - which had already been raised at the mid-year point. 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. The Company's investment strategy is geared to the continued development of a high-quality, highly profitable and regionally diversified portfolio. Real estate assets under management comprise 215 properties with a market value of EUR 3.1 billion and a pro-rata value of approximately EUR 2.2 billion. The real estate portfolio is structured in two segments: the Commercial Portfolio (EUR 2.0 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. In-house real estate management teams provide a direct service to tenants, working out of six different locations in each of the portfolio focus regions. This market presence and expertise creates the basis for preserving and enhancing earnings and real estate values. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company's shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies. Media contacts: Thomas Pfaff Kommunikation Höchlstrasse 2 81675 Munich, Germany Phone: +49 89 992496-50 Fax: +49 89 992496-52 Mobile: +49 172 8312923 [email protected] Investor Relations Peer Schlinkmann Neue Mainzer Strasse 20 - MainTor 60311 Frankfurt/Main, Germany Phone: +49 69 9454858-1221 Fax +49 69 9454858-9399 [email protected] Key financial indicators

Financial indicators (EUR mn)        9m/      9m/          Q3/    Q2/
                                     2015    2014         2015   2015

Total income                         254.6  165.3  +54%  146.7   62.1 
>100%
Gross rental income                  104.1  110.7   -6%   33.6   35.3   -5%
Fees from real estate management       4.5    3.6  +25%    1.5    1.6   -6%
Property disposal proceeds           126.0   22.7  >100% 106.1   17.8 
>100%
Profits on property disposals         14.1    1.0  >100%  12.4    1.4 
>100%
Funds from operations (FFO)           36.8   35.4   +4%   12.8   11.9   +8%


Financial indicators per share (EUR)   9m/    9m/          Q3/    Q2/
                                      2015   2014         2015   2015

EPRA earnings                         0.52   0.51   +2%   0.16   0.18  -11%
FFO                                   0.54   0.52   +4%   0.19   0.17  +12%

Statement of financial position - key items (EUR  30 Sep 2015    31 Dec
2014 mn)

Net debt equity ratio (%)                               35.2           33.4
Net debt ratio (loan-to-value ratio - LTV)              64.1           65.9
Investment property                                  1,930.4        2,143.9
Equity                                                 781.7          774.8
Financial debt                                       1,585.4        1,667.9
Total assets                                         2,440.7        2,537.0
Cash and cash equivalents                              143.8           97.4

--------------------------------------------------------------------- 12.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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: DIC Asset AG Neue Mainzer Straße 20 * MainTor 60311 Frankfurt Germany Phone: +49 69 9454858-1221 Fax: +49 69 9454858-9399 E-mail: [email protected] Internet: www.dic-asset.de ISIN: DE000A1X3XX4, DE000A1TNJ22, DE000A12T648 WKN: A1X3XX, A1TNJ2, A12T64 Indices: S-DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 412073 12.11.2015