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Deutsche Wohnen AG 08.12.2011 10:34 Dissemination of a Voting Rights Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Morgan Stanley, Wilmington, Delaware, USA, Morgan Stanley International Holdings Inc., Wilmington, Delaware, USA and Morgan Stanley Bank AG, Frankfurt, Germany informed us on 05 December 2011 that pursuant to section 27a (1) of the German Securities Trading Act (WpHG) on 30 November 2011 its voting rights in Deutsche Wohnen AG, Frankfurt/Main, Germany, ISIN: DE000A0HN5C6, had reached or exceeded the threshold of 10% or a higher threshold and on 01 December 2011 have fallen below the 10 % or a lower threshold of voting rights. Further to this notification Morgan Stanley, Wilmington, Delaware, USA ('Morgan Stanley'), notified us on its own behalf and on behalf of the subsidiaries Morgan Stanley Bank AG, Frankfurt, Germany, and the holding entity of Morgan Stanley Bank AG, Frankfurt, Germany, Morgan Stanley International Holdings Inc., Wilmington, Delaware, USA, pursuant Section 27a of the German Securities Trading Act (WpHG) that:

1. the intention of the excess of the 20% threshold in voting rights of Deutsche Wohnen AG was not strategic and did not serve the purpose of making trading profit,

2. none of the Morgan Stanley entities mentioned above intend to obtain further voting rights in Deutsche Wohnen AG during the next 12 month,

3. none of the Morgan Stanley entities mentioned above intend to influence the staffing of the management or supervisory board or any other controlling committee of Deutsche Wohnen AG and

4. none of the Morgan Stanley entities mentioned above intend to significantly change the capital structure, the equity debt ratio or the dividend policy of Deutsche Wohnen AG.

The purchase of the voting rights was financed using debt capital. 08.12.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Deutsche Wohnen AG Pfaffenwiese 300 65929 Frankfurt Germany Internet: http://www.deutsche-wohnen.com End of Announcement DGAP News-Service ---------------------------------------------------------------------------