Takeover Offer

RNS Number:6041Z
Summit Germany Limited
04 July 2007


Summit Germany Limited
4 July 2007

      SUMMIT GERMANY PUBLISHES TAKEOVER OFFER FOR DEUTSCHE REAL ESTATE AG

Following its announcement dated 18 May 2007, Summit Germany Limited ("Summit
Germany") today announces that a wholly owned subsidiary has made public its
voluntary takeover offer for the shares in Deutsche Real Estate AG ("Deutsche
RE"), a German publicly traded company with Euro300 million commercial property
portfolio interests in Germany, following the approval of the relevant German
authorities of the takeover offer.

The price per share offered in the takeover offer is Euro3.25 per share, the
weighted average market price of Deutsche RE in the last three months, and
represents a Euro0.06 premium to the current market price, as quoted on the
Frankfurt Stock Exchange as per 2 July, 2007. The price (prior to adjustments)
that was secured by Summit Germany's subsidiary in the share purchase agreement
for the acquisition of the 76% controlling stake of Deutsche RE was Euro 2.67 per
share.

The initial tender period for the takeover offer shall be effective for 10
weeks, closing on 5 September, 2007. Should the offer be accepted in full,
Summit Germany will pay approximately Euro58 million for all of Deutsche RE's
shares, including the estimated Euro 42 million (before adjustments to be made
prior to closing) to be paid for the 76% controlling stake. The Company expects
to complete the acquisition of the 76% controlling stake in August 2007, and in
any event prior to the close of the takeover offer.

Deutsche RE has a core portfolio of 32 properties throughout West Germany
(except for one in the East). In addition, it owns 5 properties through joint
venture vehicles. Deutsche RE focuses its investments on office buildings,
logistic centers and retail properties. The total net letable area of these
properties is approximately 379,000 square metres on 519,000 square metres of
land. The net acquisition yield of the core portfolio is estimated to be 6.1%
and expected to rise to approximately 7.45% on full occupancy.

Date: 4 July 2007
For further enquiries contact:

Summit Germany
John Lamb, Chairman
020 7436 2339

city PROFILE
Jonathan Gillen / William Attwell
020 7448 3244

Collins Stewart Europe
Simon Atkinson
020 7523 8306

Notes to editors

Summit Germany Limited, incorporated in Guernsey and admitted to trading on AIM
in May 2006, is a real estate investment company specialising in commercial
properties in Germany.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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