Andersia Tower – the highest building in Poznan debt financing closed!

Von der Heyden Group, a pan-European investor and developer is pleased to announce to have entered  into a credit agreement with two renowned Polish banks: Pekao S.A. and Kredyt Bank S.A. to finance its flagship mixed-use development in Poznan –” Andersia Tower”.

The total amount of the credit agreement reaches Euro 40 million and will be repaid in 16 years.

As Sven von der Heyden, Chairman of Von der Heyden Group said: “These days developing a hotel in Poland is not an easy task but we are glad that our banking Partners, with whom we have been co-operating partly for many years,  again gave us the trust that an ambitious development such as “Andersia Towers” requires. The Hotel component will be managed by IBB Hotels who already successfully manages another 4 star hotel in Poland, which has also given credibility to the investment. The office component will certainly meet the highest expectations of our future Tenants as all buildings developed by our Group do.”

Adam Trybusz, Managing Director of Von der Heyden Group in Poland said: “Persistence and patience is always rewarded. I have strongly believed in this big project the same I believe in Poland and Poznan, the place where my children have been brought up, Poland – the country of great opportunities.”

“Andersia Tower” is a joint venture between Von der Heyden Group and the City of Poznan. It is the second phase of the Anders Square development and after Poznan Financial Centre was successfully completed in 2001 and sold to AIB Fund in December 2004.

Above-ground construction works of “Andersia Tower” started in September 2005 after a heavily competed tender finally won by a reputable European construction company, Hochtief Polska Sp. z o.o.

“Andersia Tower” will be a mixed-use development comprising 35,000 sqm of office, hotel, and retail space. The lower floors will be used for a ****deluxe hotel with 171 rooms, suites with an executive floor, retail outlets, restaurants, conference centre and a large banquet & ball room for up to 800 people. The hotel will be operated by the Hotel Operator of Spanish origin  – IBB Hotels Polska Sp. z o.o.

The upper floors of the “Andersia Tower” will be designated for class “A” office space and the top floor will feature an exclusive restaurant with a terrace on the roof, offering superior panoramic view of Poznan from 100 meters above ground. The building will have a swimming pool, a fitness club, saunas and steam baths.

The entire development will be built using state-of-the-art technologies and will conform to the most strict standards of “intelligent” facilities as well as set-up standards performed by Von der Heyden Group in its European projects.

Completion is scheduled for spring 2007.

Investment costs are estimated at approximately Euro 53 million.

Von der Heyden Group has a proven track record of successful commercial developments in Poland during 15 years and enjoys the trust of national and international banks and other financial institutions. Since 1989 the companies comprising the Von der Heyden Group have completed an investment program in real estate valued at well over Euro 145 million. In 2005/2006 there are investments under development and/or acquisition in the amount of approximately 75 million EURO in Poznan, Warsaw, Leipzig and Berlin.

Accession Fund SICAV invests in Von der Heyden Group’s top rank project – Liberty Corner in Warsaw!

Von der Heyden Group announced today that it has entered into a share-purchase agreement with Luxembourg-based Accession Fund SICAV – GLL-Managed Fund and sold it’s shareholding in one of its 14 Polish purpose companies: Mysia 5 Sp. z o.o. The VDHG’s subsidiary owns a prominent A+ class office building in Warsaw’s historic CBD. Accession Fund SICAV has been a 50% shareholder in Mysia 5 Sp. z o.o. since October 2004.

Although terms were not disclosed, Sven von der Heyden, von der Heyden Group’s Chairman said that: ‘selling our interest in Liberty Corner has certainly not been an easy decision, people close to us know what the building means to us. However, we are actively investing in several opportunities both in Poland and in Germany, therefore it was a logical consequence to have sold our interest to our partner Accession Fund’.

Adam Trybusz, Von der Heyden Group Managing Director in Poland said: ‘Developers don’t build buildings for themselves as parents don’t bring up children for themselves. We believe the right time to dispose Liberty Corner has come and we always try to be on time’.

‘Liberty Corner is one of the highest quality assets in Warsaw. Its consistent out-performance of the market has proven this out’ said Barry McGowan, Accession Fund CEO. ‘We were very pleased to be able to acquire the remaining 50% from our partner, Von der Heyden Group. We are very pleased with their work at Liberty and plan to continue to work with them on other projects in the future’, added Accession Fund Director, Gerd Kremer.

Von der Heyden Group completed construction of Liberty Corner in Summer 2003. The property is currently 65 % leased and houses prestigious tenants such as the Embassy of Ireland, Deutsche Bank, Knight Frank, Von der Heyden Group, Kolaja & Partners, BZWBK TFI Investment Fund, Jaime Mascaró and IVEX, a Spanish government owned trade promotions agency. The owners are planning to reach fully-leased status within the next 6-12 months. Von der Heyden Group is retained to arrange for the lease up of the property and will also co-operate with external brokers as before.

Liberty Corner 95% rented!

As we informed on November 25th, 2005, Von der Heyden Group sold its shareholding in one of its 14 Polish purpose companies: Mysia 5 Sp. z o.o. – the owner of Liberty Corner in Warsaw to Luxemburg based Accession Fund, managed by GLL Real Estate Partners. Von der Heyden Group has been retained by Accession Fund to arrange for the lease up of the property within 12 months, which has now been achieved within 2 1/2 months only.

We have the great pleasure to announce the following newly signed lease agreements:

1. Bombardier Transportation Polska Sp. z o.o. – the world leader in the production of rolling stock and related equipment as well as business and regional aircraft. The group, which has its head office in Canada, employs 60,000 staff in 21 countries. In Poland, Bombardier operates four production facilities in Katowice, Łódź, Warsaw and Wrocław where rolling stock, traction equipment and railway movement control systems are manufactured. In Poland, the company’s product range includes locomotives, DMUs, EMUs, modern double-decker carriages, trams, movement control systems and traction equipment (210 sqm on the second floor);

2. BZ WBK AIB Towarzystwo Funduszy Inwestycyjnych S.A. – one of the most experienced and recognized players in fund market. It has been present at the market for 8 years now and currently it manages 9 investment funds of total assets value of over 7,7 billion PLN, which is over 12,6% market share (as for the end of December 2005) – (213 sqm on the first floor);

3. Spencer Stuart Poland Sp. z o.o. – the Polish subsidiary of a renowned consulting company present at the market since 1956. Today the firm employs over 300 consultants in 49 offices around the globe. Last fiscal year Spencer Stuart reached over 420 million USD, which represented ca. 15% of revenues’ increase. This result places Spencer Stuart as the number two worldwide in it’s league. In 2005 the firm booked 4300 assignments (290 sqm on the fourth floor);

4. Zara Polska Sp. z o.o. – ZARA belongs to Inditex, one of the largest fashion retail groups worldwide and one of the largest Spanish Companies. Inditex has seven other chains: Kiddy’s Class, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home. The Inditex Group is comprised of over one hundred companies associated with the business of textile design, manufacturing and distribution. The first ZARA shop opened its doors in 1975 in Spain. Now, ZARA has 626 stores in 46 countries. In Poland there are 11 ZARA shops and there will be 16 until the end of 2006. Zara offers the latest trends in international fashion in an environment of thought-out design. Its stores, located in the main commercial areas of cities across Europe, America and Asia, offer fashion inspired in the tastes, wishes and lifestyles of today’s men and women. (430 sqm on the fourth floor)

5. 722 sqm on the fifth floor – rented to an international undisclosed entity operating in facility management field.

Apart from the above mentioned new leases, Liberty Corner hosts also other prestigious Tenants like: the Embassy of Ireland, Instituto Valenciano de la Exportacion, IVEX S.A., Deutsche Bank, Nicolas Neumann Interiors, Jaime Mascaró, Knight Frank, Kolaja & Partners, Emerging Europe Investors and Von der Heyden Group.

“We are particularly proud of our team to have achieved this extraordinary result in less than 3 months. Liberty Corner has certainly shown to be THE benchmark building on the Warsaw office market, both in terms of net rental levels achieved as well as construction quality and care for detail” said Sven von der Heyden, Chairman of Von der Heyden Group.

Adam Trybusz, Managing Director of Von der Heyden Group in Poland said: “The famous dictum for a successful project: “location, location and location” could be transformed here into 3 principles: location + quality + project scale = Liberty Corner”.

Liberty Corner:

Liberty Corner is a Von der Heyden Group development, an office building with a total gross area of 12.400 m², of which some 4.500 m² were developed for and are occupied/owned by the Polish Press Agency (PAP). It was erected with 8 storeys above ground and two underground parking storeys. The ground floor is for retail use, whereas the rest of the building contains office space.

Liberty Corner is situated in the very centre of Warsaw, at the corner of Mysia and Bracka Street close to the historical Plac Trzech Krzyży that completes the street block together with Nowy Swiat, one of the most prestigious streets of Warsaw.

The building has a sandstone façade and is characterized by its high quality technical installations and finishes. Liberty Corner was finished in June 2003 and it is the first office building in Poland designed without structural columns, ensuring extra natural light, and providing more flexibility for the space planning. The building is designed in two independent parts. One section serves as the headquarters for its owner Polish Press Agency. The second building is designed as a stand-alone space that is ideally suited for the office seat of an international organization.

Liberty Corner offers a state-of-the-art telecommunications system, 4-pipe air conditioning system with a separate floor-by-floor regulation as well as a possibility of opening windows, and an advanced Building Management System (BMS)- to control and monitor all the engineering services. High standards of finishes including high windows made of Canadian cedar wood, walls finished in highs quality of bottocino marble create comfort and elegance.

Von der Heyden Group:

Von der Heyden Group, a pan-European developer, was established in 1989. Present in Poland for over 15 years, Von der Heyden Group has a proven track record of successful commercial developments and enjoys trust of national and international banks and other financial institutions.

Since 1989, the Group’s various subsidiaries have developed projects valued at well over € 145 million. In 2006 there are investments under development and/or acquisition in the amount of approximately € 75 million in Poznan, Warsaw, Leipzig and Berlin.

The Von der Heyden Group’s projects have won numerous awards like for example:

Liberty Corner: “Building of the Year 2003”, first Prize in the most prestigious contest “Budowa Roku 2003” organized by the Polish Association of Civil Engineers and Construction Technicians, the Ministry of Infrastructure and the General Office of Building Control, “Golden Drill 2004”, “The Best Office Address in Warsaw 2004”, “The Best Partner in Business 2004” in the category “The Best Office Buidling”.

Grand Hotel Lublinianka: “Kryształowa Cegła 2001” (“Crystal Brick 2001”), “Best Overall Development 2002”, “Laur Konserwatorski 2003”, “Zabytek Zadbany 2003”.

Poznań Financial Centre: 2nd Prize in a contest “Building of the Year 2000”, 1st Prize “Intelligent Building 2001”, 1st Prize in the architectural contest Jan Babtysta Quadro, “The Best Office Address 2004”.

For more information on Von der Heyden Group please visit our web sites:
www.vdhgroup.com
www.libertycorner.pl
www.pfc.pl
www.andersia.pl
www.lublinianka.com

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Liberty Corner rented

Refinancing for Grand Hotel Lublinianka

On 24th of February 2006 Lublin Grand Hotel Sp. z o.o. – one of the Von der Heyden Group companies established to realize the “Grand Hotel Lublinianka” project – has refinanced it’s loan in Millennium Bank S.A. with a new loan granted by Bank Zachodni WBK S.A.

The loan Agreement between Lublin Grand Hotel Sp. z o.o. and Bank Millennium S.A. was concluded in the year 2000. During the five year period a lot of changes connected with the project and it’s environment took place, what encouraged the Management Board of the Company to work out a new conception of the project financing.

From among all banks invited to co-operation, the best offer was made by Bank Zachodni WBK S.A. The agreement is concluded for the period of eleven years.

Von der Heyden Group thanks Millennium Bank for the five years of cooperation and enormous equity contributions by its shareholders, which allowed to restore splendor of this historical building and re-open this magnificent hotel in the City of Lublin.

Liberty Corner and Grand Hotel Lublinianka nominated to CEE Property Awards: ‘1989 – 2006 The Best of the Best’ !

It is our great pleasure to inform that Von der Heyden Group’s projects: Liberty Corner and Grand Hotel Lublinianka have taken part in CEPIF and International Herald Tribune CEE Property Awards: ‘1989 — 2006 The Best of the Best’ for the CEE Region’s best developments and have just been nominated for a short list to win the above mentioned awards in two categories: “Best CEE Office Development” and “Best CEE Hotel Development”.

The winners will be announced at the CEPIF Gala Party in the evening on May 11, 2006 and in the International Herald Tribune.

Von der Heyden Group invests in the heart of Gdansk Old Town!

It is our great pleasure to announce that after Grand Hotel Lublinianka in Lublin and Andersia Tower in Poznan, Von der Heyden Group has started its new 4 star hotel development in Poland: Dlugi Targ Hotel Project in Gdansk.

The von der Heyden Group took part and has won a complex tender organized by Millenium Bank and acquired a prestigious property at the corner of historical Dlugi Targ Boulevard and Mieszczanska Street, almost opposite to the well known Neptun’s Statue and the Dwor Artusa building.

The newly owned property is one of the most attractive buildings in the exceptional tourist part of Gdansk. It consists of three semidetached historical city houses with three different historically renovated and well preserved frontal elevations. Von der Heyden Group plans to convert the buildings into a 4 Star Deluxe boutique Hotel, after a thorough refurbishment which is planned to start in autumn of 2006 and will last until winter 2007. The total area is approximately 2.500 m2.

The hotel rooms are planned to be located on four floors, many of them facing the vibrant life and streams of tourists on the Dlugi Targ Boulevard. In order to obtain the required space for a banquet and event hall and additional hotel rooms, the southern wing of the building will be extended. The objective is to obtain a homogenous impression with the front part of the building, in close co-operation with the city conservator of monuments. The building will be renovated to keep its charm and historical character.

Sven von der Heyden, Von der Heyden Group Chairman said: “This is one of our most beautiful acquisitions for years and we are convinced more than ever, especially in a fierce competitive environment, that only location counts. Within Gdansk, the location can hardly be beaten and we are certain that this enterprise, even though below the average of our usual transaction size, will turn into a financial success story.”

Adam Trybusz, Von der Heyden Group Managing Director for Poland added: “We will develop a hotel where tourists will feel as if they were in the best hotel in Amsterdam old-town. The atmosphere, architecture and the service, all will make them travel to Gdansk instead of Amsterdam and our aim is that Gdansk has no vacant hotel rooms.”

When ready, the luxury hotel will offer international services standards for business travelers & tourists. For guests’ disposal there will be 44 spacious, well designed rooms and suites, an exquisite restaurant with 45 seats, a banquet & event hall (350 m2) and various fitness facilities.

The Hotel will be managed by the Spanish hotel chain IBB Hotels. Since 2003, this will be the third hotel run by IBB Hotels in Poland, after the successful management of the Grand Hotel Lublinianka and the launch of Andersia Tower Hotel in Poznań in spring 2007.

Estimated market value upon completion: app. Euro 7,5 mln

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Von der Heyden Group invests in the heart of Gdansk Old Town

Von der Heyden Group invests in a historic building in the centre of Erfurt’s Old Town!

We are happy to announce that after Grand Hotel Lublinianka in Lublin, Andersia Tower in Poznan and Dlugi Targ Project in Gdansk, Von der Heyden Group has purchased its first 4 star hotel building in Erfurt, Germany. The hotel is located at the Krämerbrücke in the historical centre of Erfurt and gives a stunning view onto the famous medieval Krämer Bridge. It offers 91 rooms right in the heart of a lively tourism centre although with a magnificent and quiet location facing a small park and the river Gera.

The Von der Heyden Group acquired the prestigious property from Sorat Hotels, the German hotel chain. The hotel will be managed by IBB Hotels who has also taken an equity stake in the investment. Having signed the purchase agreement, Mr Sven von der Heyden, Von der Heyden Group Chairman, said: “this is the first step into the German Hotel market for both our Group and IBB Hotels and the building perfectly fits IBB’s strategy to go for quality properties. We are very excited to have purchased this beautiful landmark building in the Capital of the German federal state of Thueringen. As always, we have a long term vision up to increasing the amount of beds on a small plot adjacent to the Hotel”.

The stylishly designed 4 star hotel in Erfurt offers 91 rooms and suites including 6 rooms in the Tower at the Krämer Bridge with exposed medieval brickwork, original beams, warm colours and clever details. The Interior furniture has been designed especially for the hotel by a top French designer, Didier Gomez. The hotel makes available an underground garage for 30 parking places, 2 restaurants with a terrace and a beer garden, lobby bar, 3 conference rooms up to 130 people, sauna, cosmetics and massage.

IBB Hotels will now develop the Hotel in Erfurt in order to ensure the already pleasing high occupancies and level of customer satisfaction. The IBB Hotel Erfurt is a first step of IBB’s expansion strategy into Germany. IBB Hotels is now active in Spain, Germany and Poland, where the Hotel Operations Company will soon manage 3 Hotels developed by the Von der Heyden Group: the Grand Hotel Lublinianka, the IBB Andersia Tower Hotel in Poznan and the refurbishment project Dlugi Targ in the heart of the old town of Gdansk. IBB Hotels is actively searching the market for new opportunities.

Von der Heyden Group:

The Von der Heyden Group, a pan-European developer began investing into the Polish property market at the start of the nineties. During over 16 years of activities it has become familiar with the specific characteristics of the market and enjoys the trust of national and international banks and other financial institutions. The Group specializes in high quality property investments including the renovation of historic buildings which have received numerous awards.

The companies comprising the Von der Heyden Group together have completed an investment programme in real estate valued at well over 145 million Euro. In 2006 there are investments under development and/or acquisition in the amount of approximately 75 million Euro which brings total investments to some 220 million Euro so far.

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Von der Heyden Group invests in a historic building in the centre of Erfurt’s Old Town

“Andersia Tower” celebrates Topping out Ceremony!

Von der Heyden Group is delighted to communicate that construction works of the highest building in Poznan – Andersia Tower, have reached the topping-out stage!

On October 2, 2006 the Topping out Ceremony was celebrated preceded by a press conference with numerous journalists. The journalists had an opportunity to address questions to the architects: Mr Stanisław Sipiński (Studio Projektowe Ewy i Stanisława Sipińskich), Mr Igor Galas (PRC Architekci), the General Contractor, Mr Krzysztof Jankowski (Managing Director, Hochtief Polska Oddział Budokor), IBB Andersia Hotel Operator, Mr Hiren Prabhakar (Hotel Director, IBB Hotels Managing Director responsible for IBB activities in Poland, Germany and Spain) and the Investor, Mr Sven von der Heyden (Chairman, Von der Heyden Group), Mr Adam Trybusz (Managing Director for Poland, Von der Heyden Group).

Beside official speeches and expression of gratitude to all partners, companies and individual people who worked for Andersia Tower project, guests were invited to attend a surprise -presentation of a mock-up hotel room that raised a lot of interest, due to an unconventional combination of interior design and modern solutions applied. Afterwards, there was time for individual talks and meetings accompanied by music and traditional food.

On the occasion, Mr Sven von der Heyden, Von der Heyden Group’s Chairman, stressed: “For me the topping out ceremony is always a special event as it is the moment to celebrate the hard work of our entire team, but foremost the construction workers who are the real fathers of such an edifice. Let it be cold or hot or even blowing gales, these men are always there to make sure the timely completion of their task. We are very proud to be the investors of the tallest building in Poznan!”

Mr Adam Trybusz, Von der Heyden Group’s Managing Director for Poland: I remember the fears of foreign investors in the 1990s, anxious about the construction of their facilities by teams of Polish technicians and workers. Today it is apparent that those workers represent one of Europe’s best technical and contracting staff. Without a doubt, the standard of construction management offered by international general contractors on the Polish market has contributed to this fact. However, in the end, people are always involved. Ambitious, well-qualified Polish workers. During this ceremony, we would like to express our gratitude to those people in particular, for their efforts and reliability. Andersia Tower is growing, and it is becoming more and more splendid every day. For me it is a unique reason to be proud, as this project is my greatest achievement. A fulfillment of organic work, so typical of the Poznan work style.

“Andersia Tower” is the first investment started in Poznan after Poland’s accession to the European Union. It is a joint venture between Von der Heyden Group and the City of Poznan. It makes the second phase of the Anders Square development and after Poznan Financial Centre successfully completed in 2001 and sold to AIB Fund in December 2004.

“Andersia Tower” will be a mixed-use development comprising 35,000 sqm of office, hotel, and retail space. The lower floors will be used for a ****deluxe hotel with 171 rooms, suites with an executive floor, retail outlets, restaurants, conference centre, large banquet & ball room for up to 800 people and fitness and SPA centre with a swimming pool. The IBB Andersia Hotel will be operated by the Hotel Operator of Spanish origin – IBB Hotels Polska Sp. z o.o. who already successfully manages the IBB Grand Hotel Lublinianka in Lublin.

The upper floors of the “Andersia Tower” will be designated for class “A” office space and the top floor will feature an exclusive restaurant with a terrace on the roof, offering superior panoramic view of Poznan from 100 meters above ground.

The entire development will be built using state-of-the-art technologies and will conform to the most strict standards of “intelligent” facilities as well as set-up standards performed by Von der Heyden Group in all its European projects.

Completion is scheduled for spring 2007.

Investment costs are estimated at approximately Euro 53 million.

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Andersia Tower celebrates Topping out Ceremony

Von der Heyden Group welcomes Mr Javier Errejón Sainz de la Maza!

It is our great pleasure to inform that Mr. Javier Errejón Sainz de la Maza joined the team of the Von der Heyden Group (VDHG) and was appointed as the Managing Director Finance and Investments for the entire group starting from January 1, 2007.

Mr Javier Errejón Sainz de la Maza will be responsible for VDHG’s projects development in Europe and at the same time has become the Managing Director of Von der Heyden Development Sp. z o.o. (VDHD), the service consultancy arm of the VDHG.

With reference to a dynamic development of the Von der Heyden Group’s projects in Poznan, Mr Adam Trybusz will concentrate on the Group’s activities in Poznan and stay in management boards of VDHG Poznan companies and also Nowy Świat 5 Sp. z o.o. and Długi Targ Sp. z o.o.

Mr Sven von der Heyden will remain active as the Chairman of the Group and will continue to supervise business in Poland, Spain and Germany.

We are delighted to welcome Javier in our team, the experience he has gained both with his previous companies as well as during his studies shall ensure the further development and success of our group”. I am personally relieved to have him on board, given the numerous activities of Von der Heyden Group in Spain, Poland and Germany we needed another person strong in financial matters“, said Mr Sven von der Heyden.

Mr Javier Errejón Sainz de la Maza said:I am very pleased to join the Von der Heyden Group. Several reasons made me take the decision to join it: the impressive track record of the Group, the outstanding and exceptional team working in it and the professional respect I have for Mr. Sven von der Heyden. I strongly believe in the future development of the Group and will do my best to contribute to reach the highest possible goals“.

Mr Javier Errejón Sainz de la Maza is a graduate of ICADE University where he studied business administration and law and holds the Master degree in Business Administration at  IESE. He has been working in companies such as Price Waterhouse, Riansa and some nine years for Aldeasa (Spain and Latin America’s number one Duty Free retailer) and Ferrovial (Spain’s largest construction company) in leading positions within the financial and development departments. He also teaches Financial Management at ICADE’s MBA from time to time.

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Von der Heyden Group welcomes Mr Javier Errejon Sainz de la Maza

Andersia Tower – Home for renowned international investors coming to Poznań!

Von der Heyden Development, the service consultancy arm of Von der Heyden Group, is pleased to announce that the highest building in Poznan, Andersia Tower, is 96% leased!

Long-term lease agreements have been signed a few months before finishing construction works. Andersia Tower is after Poznan Financial Centre the second class ‘A’ office building developed in Poznan and will house reputable international companies. For some of them, Andersia Tower will be the first headquarters not only in Poznan but in the whole of Poland. This shows that in spite of a very dynamic development of other Polish cities like e.g. Wrocław and Kraków, the city of Poznan has still been perceived as one of the most attractive investment places in Poland.

We are honoured to welcome Andersia Tower‘s Tenants:

1. Ernst & Young (742 sqm) The world’s leading tax consultancy company, a world leader in tax advisory and auditing. The company provides professional services in audit, business, accounting, translation, grants and incentives, real estate and training. E&Y Poland employs over 1100 employees in 5 local offices. Ernst & Young audits nearly 20% of the companies listed in the ‘Business Week’s’ 1000 largest international companies.

2. Efect Financial Consulting (Efekt Doradztwo Finansowe) (250 sqm) the company has become one of the most important players in overall financial market in Poland. Efect’s financial advisers offer its customers the best individual financial solutions which include insurance, credits and investments. In Poland there are 500 employees working for Efect.

3. Grafton Recruitment (180 sqm) a world class provider of recruitment solutions. Grafton has experienced an impressive growth pattern in the last five years. The network has built to a total of 70 branch operations spanning 19 different countries including the United Kingdom, Republic of Ireland, Chile, Czech Republic, Slovakia, Hungary, Poland, Lithuania, Russia, Romania, Portugal, France, Belgium, Turkey and the UAE.

4. IKB Leasing Polska (1.172 sqm) member of the IKB Deutsche Industriebank Group, is one of the largest manufacturer-independent equipment and vehicle leasing companies in Poland. The company is a subsidiary of IKB Leasing GmbH in Hamburg, one of Germany’s leading mobile asset leasing companies with international operations. IKB Leasing Polska Sp. z o.o. specializes in equipment and production line leasing. The activities of the company focuses on the following branches of industry: metalworking and processing, plastic processing, printing, logistics, food, beverage and tobacco, wood processing.

5. 6.655 sqm – rented to an international, renowned yet undisclosed entity.

On this occasion, Mr Sven von der Heyden, Von der Heyden Group’s Chairman said: ‘I am truly amazed that we have repeated the enormous success of PFC (Poznan Financial Centre) in 2001 and are now, 5 months before completion even more occupied than we were with PFC at the same time. Together with the long term income from the Hotel component, managed by IBB Hotels, Andersia Tower is another masterpiece of perfect engineering, efficiency and foremost right market timing. I want to thank our “evergreen” advisors of Knight Frank and our whole team who have contributed to make this next dream come true for us.’

Mr Łukasz Ziółek, Ernst & Young Partner said: ‘Our firm pays great attention to attractive and prestigious locations of our offices. Andersia Tower is a modern building that offers comfortable and friendly working environment for our staff and visitors and reflects the high quality of the services we provide to our clients.’

Mr Adam Trybusz, Managing Director of Andersia Tower: ‘The Public Private Partnership concept can be difficult, sometimes even bitter, but when it all comes together – as with the Andersia Tower project realised with the City of Poznan then the sheer satisfaction of the accomplishment outweighs all the earlier difficulties and obstacles. Why shouldn’t we feel proud that a gaping hole in the city’s urban fabric is filled with good architecture and in achieving our targeted profits we create a place where new firms can prosper and further stimulate the local economy with the prospect of employment for another 1500 to 1700 young, well qualified Poznan citizens. “Poznan. Life at its best” – Now I can agree with that. A harmonious development compatible with its urban fabric does not end with simple investment returns. It needs to be judged against the reduction in unemployment, seen alongside the City’s growth and employment strategy, in raising the quality of work opportunities which in turn generate an increase in tax revenues that further regenerates the local economy let alone the additional property taxes. These human aspects have a greater significance and a longer lasting effect. This is how great cities are built.’

Andersia Tower is a joint venture between the Von der Heyden Group and the City of Poznan. It is the first investment started in Poznan after Poland’s accession to the EU. It makes the 2nd phase of the Anders Square development and after Poznan Financial Centre successfully completed in 2001 and sold to AIB Fund in December 2004.

Andersia Tower will be a mixed-use development comprising 32,000 sqm gross of office, hotel and leisure space. The upper floors will be used for top class ‘A’ office space of app. 10.500 sqm. The lower part of the project will be used for a **** deluxe hotel operated by IBB Hotels Polska, who already successfully manages the IBB Grand Hotel Lublinianka in Lublin as well as the newly acquired **** Hotel an der Krämerbrücke in Erfurt, Thuringia.

Completion of Andersia Tower is scheduled for summer 2007.

Investment costs are estimated at app. Euro 58 million.

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ANDERSIA TOWER – home for renowned international investors

Von der Heyden Group invests in Munich together with Bayern Projekt GmbH!

Von der Heyden Development, the service consultancy arm of Von der Heyden Group is delighted to communicate that the VDHG has made the first important purchase in the Bavarian homeland of its Chairman, Mr. Sven von der Heyden.

In the top strategic location in Munich, on the border to Bogenhausen, at the beginning of the highway A94, providing access to the Munich Fair, VDHG and Bayern Projekt GmbH have purchased 3 office buildings and a warehouse building. The three pieces of real estate were purchased from two communities of heirs and Süddeutscher Verlag GmbH (= the publisher of Süddeutsche Zeitung daily).

On signing of the purchase contract, Mr. Sven von Heyden, Von der Heyden Group’s Chairman, said: “Like in the case of all interesting real estate transactions, also the purchase of these 3 outstandingly situated buildings was a genuine challenge. The success of the project is based particularly on successful synchronization of interests of fundamentally different sellers. I am glad that with this piece of hard work, our Group and Bayern Projekt have been able to reach such a favorable result. Following our intensive acquisitions in Leipzig and Erfurt during the last 18 months, we now again have both feet firmly on the ground in Munich, a fact which we are very proud of.”

Mr Sven Renz, the Managing Director of Bayern Projekt GmbH and Bogenhausener Tor Immobilien GmbH, said: “Considering how difficult the ownership and plot situation was, and given the challenges of the conceptual phase, this is a day full of joy for us. We would particularly like to extend our thanks to Von der Heyden Group for their trust, as well as a successful and competent completion of the purchase. Moreover, we are also glad to have found in Von der Heyden Group a capable investor and a visionary partner, who, after years of restraint, has again found its way back to its homeland Bavaria.”

Bogenhausener Tor Project:

The investment made through a special-purpose subsidiary Bogenhausener Tor Immobilien GmbH, includes three functional well-maintained office buildings with rented space of over 85%, as well as one three-story warehouse building with rented space of 70%. The investment’s total net usable floor space is approximately 20,500 sq m, including office floor space of approximately 13,000 sq m, warehouse floor space of approximately 6,500 and parking space for nearly 180 vehicles.

The VDHG’s partner in the joint-venture founded for the purpose of project implementation and asset management is Bayern Projekt GmbH, a Munich-based real estate company with more than 20 years of operation experience, since 2002 lead by its Managing Partner, Sven Renz, FRICS. Over the last couple of years, Bayern Projekt GmbH has acted as an initiator and laid the foundation for the Group’s real estate investment.

The purpose of the investment is, next to the return-oriented acquisition of rented buildings in a very good strategic location in Munich, to achieve a higher-than-average value-added with a lower risk profile through professional project development and long-term asset management.

The acquired 3 plots are not only attractive as a result of merging them, but there is also a significant location-related potential and prospects of enhancement in value as a result of present developments and the presence of a number of renowned companies, which have already settled in the direct neighborhood.

The present rental situation in Munich, the diversified structure of the existing rental agreements, as well as flexible concepts of a potential future project development – such as densification of the plot’s area – allow various estimates, which allow a very positive view of return or risk-related aspects.

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Von der Heyden Group invests in Munich together with Bayern Projekt GmbH