IVG Immobilien AG: Changes in the Board of Directors (DE)

IVG Immobiliën AG announced the following changes in the Board of Directors: Dr. Bernd Kottmann will be new Chief Financial Officer from 1 January 2007, Dr. Dirk Matthey is to leave the company at the year end and Andreas Barth is appointed as new member of the Board of Directors responsible for the Project Development business area.

Dr. Bernd Kottmann (48), Vice Chairman of the IVG Immobilien AG Board of Directors, will assume responsibility for the Finance area from 1 January 2007. Since 2001, Kottmann has been responsible for Portfolio Management and Caverns. Previous positions Kottmann has held include CFO at Harpen AG.

Dr. Dirk Matthey (57), CFO at IVG Immobilien AG, is to leave the company to the end of the year by mutual agreement and will retain a friendly relationship to the company. The Supervisory Board thanks Matthey for more than 10 years of successful work as a member of the IVG Immobilien AG Board of Directors and wishes him all the best for the future.

A new appointment to the Board of Directors is Andreas Barth (43), who will assume the mandate as of 1 January 2007. Barth is to assume responsibility for Project Development. Previously he exercised various
functions at HOCHTIEF Project Development, was Managing Director Project Development at Viterra Development GmbH and joined IVG Immobilien AG in August this year.

The Supervisory Board resolved the staff changes in its regular meeting on 9 November 2006. In this meeting, the Board of Directors also confirmed the positive business trend in the company and the expected 2006 group
result of €145 million.

Source: IVG Immobilien AG

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