IMMOEAST made the following acquisitions and founded the following companies during the reporting year:

The Hungarian Center Invest Kft. was acquired in full as of 2 June 2005. This company owns the Stop Shop portfolio in Hungary, which consists of six completed and fully let specialty shopping centres.

In Constanta, the second largest city in Romania, 75% of the shares in Harborside Imobiliara s.r.l. were purchased as of 11 May 2005. The Harbourside Constanta project – a retail and office project – has approx. 30,000 sqm of letable space, with 21,000 sqm of this amount representing shopping areas and 9,000 sqm as offices in two office towers.

Another acquisition was made in Romania during the first quarter of the 2005/06 Business Year: as of 25 July 2005 IMMOEAST acquired 100% of the shares in Cora GS s.r.l., and thereby took over the Pipera Center office building with roughly 24,000 sqm of letable space. This property is fully rented to the leading mobile telecommunications company in Romania through a long-term contract.

IMMOEAST acquired 100% of the shares in the Czech Airport Property Development a.s. as of 29 June 2005. The fully let Airport Business Center, which is owned by this company, is located directly at Ruzyne International Airport and more than 15,000 sqm of letable space.

As part of its 50% investment in S+B CEE Beteiligungsverwaltungs GmbH, IMMOEAST acquired three project companies in the Czech Republic: NF 23 spol.s.r.o. was consolidated on 10 August 2005, Netlu spol.s.r.o. on 13 July 2005 and Stavebni a inzenýrská spol.s.r.o. on 4 January 2006. PBT Invest s.r.l. in Romania was acquired through this same holding as of 21 October 2005.

IMMOEAST purchased 100% of the shares in the Hungarian Optima A Kft. during the second quarter of the reporting year, which led to the takeover of the Optima A office building with 7,600 sqm of space. The object is fully let to international tenants.

Through its investment in IMAK CEE B.V., IMMOEAST acquired 100% of the shares in the Hungarian C.E.P.D. Kft. as of 31 August 2005 and 100% of the shares in Euro Businesspark Kft. as of 14 November 2005. C.E.P.D. Kft. is the owner of the newly built Greenpoint 7 office building, which has roughly 22,000 sqm of letable space. Euro Businesspark Kft. owns two logistics objects in Budapest: Shark Park and Camel Park. Shark Park has 17,100 sqm of warehouse space and 4,000 sqm of offices. Camel Park with its 31,000 sqm of warehouse and office space has already been completed. Another major acquisition was completed through the IMAK CEE B.V. investment on the Polish market: The Silesia Logistic Park was purchased from ARE 8 Sp.z.o.o. as of 15 June 2005.

During the third quarter of the 2005/06 Business year, IMMOEAST purchased 100% of the Slovakian Polus a.s., Polus Tower 2 a.s. and Polus Tower 3 a.s. as of 31 December 2005. This transaction resulted in the takeover of the modern Polus City Center, which is located near the centre of Bratislava in the Nove Mesto district. The complex includes a shopping centre with 56,000 sqm of letable space as well as two office high-rises, the Millennium Tower I with 23,000 sqm of space and the Millennium Tower II with 23,200 sqm of space.

As of 1 November 2005 IMMOEAST acquired 100% of the shares in the Hungarian Böck & Jeschek Kft. This company owns a warehouse and office building in Budapest, which has 29,807 sqm of space.

In Poland the remaining 90% of the shares in Nowe Centrum Sp.z.o.o. were acquired, leading to the consolidation of the company in the financial statements of IMMOFINANZ AG as of 31 December 2005. This company owns the Silesia City Center in Katowice, a modern shopping facility with 127,000 sqm of total space and 105,900 sqm of letable space.

All of the shares in Mistral Real Sp.z.o.o. were acquired as of 31 January 2006. The Mistral Office Building with 19,600 sqm of space is located at an interesting site in the Polish capital of Warsaw.

During the last quarter of the 2005/06 Business Year, IMMOEAST made three major acquisitions in Romania. As of 22 March 2006, 100% of the shares in the Bucharest Corporate Center s.r.l. were purchased. This 14-storey office building has been completed and is fully occupied. The other transactions represent the purchase of 100% of the shares in Capri Trade s.r.l. on 10 February 2006 and 75% of VALUEROI GRUP s.r.l. as of 30 March 2006. The Baneasa Airport Tower, which is owned by VALUEROI GRUP s.r.l., is an office building with 6,100 sqm of letable space and roughly 110 parking spaces. Construction is scheduled for completion in early 2007.