DGAP-Ad hoc: IMMOFINANZ

DGAP-Adhoc: IMMOFINANZ: Substantial foreign exchange-adjusted write-down to Russian portfolio expected in Q3 2015/16

IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous

04.02.2016 18:19

Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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In view of the recent significant deterioration in economic conditions in Russia, the Executive Board of IMMOFINANZ AG has commissioned CBRE, the newly appointed appraiser for the CEE portfolio, to prepare a special appraisal of IMMOFINANZ's Russian properties as of 31 January 2016.

The first indications from the appraiser's valuation lead to expectations of a foreign exchange-adjusted write-down of approx. EUR 400 million to the five Moscow retail properties in the third quarter of 2015/16. The carrying amount of these five properties totalled approx. EUR 1.57 billion as of 31 October 2015.

The outlook for IMMOFINANZ's distribution policy for the 2015/16 financial year and the 2016 abbreviated financial year, which was announced on 2 February 2016, remains unchanged.

The final results of the special appraisal and results for the first three quarters of 2015/16 will be announced as planned on 16 March 2016 after the close of trading.

On IMMOFINANZ IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The core business includes the management and development of properties. The company has a real estate portfolio of approx. EUR 6.2 billion that covers more than 390 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: http://www.immofinanz.com

For additional information contact: Bettina Schragl Head of Corporate Communications and Investor Relations IMMOFINANZ T +43 (0)1 88 090 2290 M +43 (0)699 1685 7290 communications@immofinanz.com I investor@immofinanz.com

04.02.2016 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: IMMOFINANZ AG Wienerbergstraße 11 1100 Wien Austria Phone: +43 (0) 1 88090 - 2291 Fax: +43 (0) 1 88090 - 8291 E-mail: investor@immofinanz.com Internet: http://www.immofinanz.com ISIN: AT0000809058 WKN: 911064 Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt ; Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------