Repurchase program for S IMMO INVEST participating certificates

Following approval by the Supervisory Board, the Management Board of Sparkassen Immobilien AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) adopted a program for the repurchase of S IMMO INVEST participating certificates (ISIN: AT0000795737 and AT0000630694; Bloomberg: SIIG:AV, Reuters: SIMIg.VI) on 18 January 2011. The Company may repurchase up to 5% of the certificates, or a total of 161,244 units, on the stock exchange. The Company reserves the right to cancel all or some of the certificates repurchased.

The maximum repurchase price is set at EUR 72.67 per participating certificate. The repurchase program will begin on 19 January 2011 and will end the latest on 08 April 2011.

Holger Schmidtmayr, of Sparkassen Immobilien AG’s Management Board, comments: “This repurchase program is a major step towards simplifying the Company’s capital structure.”

Neither this announcement nor the repurchase program itself constitute a public offer by the Company to acquire participating certificates.