Groundbreaking ceremony for the H2 Office in the Duisburg Inner Harbor

With ORCO Germany breaking the ground for the H2 Office, the last of the undeveloped areas in the Duisburg Inner Harbor will be developed. Friday, June 20^th, 2008, will see spades being taken in hand to symbolically commence the construction phase; the Duisburg Mayor Adolf Sauerland will be in attendance

“In realizing the H2 Office, we have set ourselves high goals”, stated Markus Palm, the branch head of ORCO Projektentwicklung GmbH, a subsidiary of ORCO Germany. “We have committed ourselves to sustainably planning our buildings and that is our mission. We work consistently to realize these standards”, Palm continued.

Thus, the H2 Office will be a “green building” in which above-average requirements will be met concerning its ecological quality. The environment will be protected, energy and resources will be used sparingly, operating costs will be reduced, all of which will be sure to satisfy the building’s users.

Without a doubt, one of the highlights will be the use of geothermal energy for heating and cooling the building, which will be aided by the concrete core activation of the ceilings. Moreover, a solar cell system and the most modern technology serving to control the building’s mechanical systems (BUS system) will be deployed. Waste will be separated and accounts rendered based on the costs-by-cause principle, the entire building will be protected against the sun, and all spaces will be wired for IT facilities – all of these aspects are part of the future-oriented standards that ORCO has made a part of its sustainability concept.

The second construction phase of the H2 Office will create a modern complex of buildings in which future tenants and their employees are to feel comfortable. The building, whose futuristic design is reminiscent of a catamaran sailboat, will comprise a total of 10,500 m² of office areas with a conference center as well as 1,500 m² of space for food and beverage services and commercial areas. As will be the case for its neighboring twin building, it will provide areas that can be divided up flexibly to provide space of between 200 m² to 2,000 m² for the tenants. The green interior courtyard built on top of the ground floor will be available to tenants for events and other activities and will offer a view of the harbor.

The completion of the second construction phase will not only mean that the ensemble of buildings making up the H2 Office is ready for its users, it will also conclude an important phase in the urban development and structural change of Duisburg, in which working, living, cultural events and recreation are all brought to the inner-city waterfront. The H2 Office will fit in well with the urban structure of the Duisburg Inner Harbor and give it a new highlight. Completion is planned for late 2009.

The interest from lenders is strong. Financing terms have been agreed with a German lender.

ORCO Germany S.A. is a real estate company and is registered in Luxembourg and that is listed in the Prime Standard on the Regulated Market of the Frankfurt Stock Exchange. The ORCO Germany group, which operates under the uniform registered trademark ORCO Germany, has been pursuing its activities in Germany since 2004 and concentrates on residential and commercial properties as well as on asset management and project development. ORCO Germany currently employs about 210 members of staff in Germany.

In 2006, ORCO Germany strategically reinforced its project development operations by acquiring Viterra Development. Viterra Development was renamed ORCO Projektentwicklung GmbH at the beginning of 2008 and is one of the leading project developers and investors specializing in commercial and residential properties in the core German markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich. ORCO Germany expanded its portfolio of properties in Berlin in June of 2007 by taking over Gewerbesiedlungs-Gesellschaft mbH (GSG); the company now manages more than 1 million square meters of developed and undeveloped areas in the German capital. GSG was established in 1965 and is the largest owner of commercial space in Berlin with about 850,000 square meters of office and multifunctional space. ORCO-GSG owns 45 so-called commercial courtyards and centers, as well as 235 residential units. Most of the properties are located in the city center with excellent connections to the Berlin public transportation network.

Orco Germany S.A. is a subsidiary of Orco Property Group, one of the leading Central European real estate firms holding a portfolio worth EUR 2.4 billion (as evaluated on December 31^th, 2007). Established in 1991, the company has its registered seat in Luxembourg and is listed on the Euronext, Prague, Budapest and Warsaw stock exchanges. It operates primarily in the Czech Republic, Hungary, Poland, Russia, Croatia, the Slovak Republic and Germany.

By switching from the Open Market, where ORCO Germany S.A. had been listed since 2006, to the Regulated Market (Prime Standard) in November of 2007, ORCO Germany has demonstrated that it is implementing a capital market strategy consistent with its rapid operating growth of recent years. By meeting the most exacting standards of transparency in place at the German Stock Exchange, ORCO Germany S.A. has improved its accessibility to capital market players even further.

Contact
Sabrina Eilers
Head of Marketing & Communications
ORCO Germany
Tel. +49. 30. 440 123 190
E-mail seilers@orcogroup.com
http://www.orcogermany.de/