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Deutsche Wohnen AG / Key word(s): Capital Increase 14.11.2011 08:19 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Frankfurt am Main / Berlin, November 14, 2011 - Today, the management board of Deutsche Wohnen AG, with the approval of the supervisory board, resolved on a capital increase against cash contributions with shareholders' subscription rights. The Company's share capital shall be increased through the exercise of the previously authorized capital from EUR81,840,000 by up to EUR20,460,000 to up to EUR102,300,000 against contribution in cash through the issue of up to 20,460,000 new no par value bearer shares. The new shares carry full dividend rights as of January 1, 2011. The new shares will be offered to shareholders for indirect subscription at a ratio of 4:1 at a subscription price for each new share yet to be determined. Four existing shares of Deutsche Wohnen entitle the holders to subscribe for one new share. Subject to the approval of the prospectus by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) and the publication of the approved prospectus, the subscription period is expected to begin on November 15, 2011 and end on November 28, 2011. Any new share not subscribed for by the end of the subscription period will be offered by way of a private placement. The management board, with the approval of the supervisory board, will determine the subscription price of the new shares of the subscription offer, the offer price of the new shares of a possible private placement as well as the final issue volume by way of separate resolutions. The subscription price per new share is expected to be set after the close of trading on November 24, 2011, taking into account the volume-weighted average price for one bearer share of Deutsche Wohnen AG on the electronic trading system XETRA on the Frankfurt Stock Exchange from the beginning of the subscription period on November 15, 2011, until close of trading on November 24, 2011, less a discount to be determined by the management board of the Company with the approval of the supervisory board of the Company. The size of the discount will take into consideration an estimate of the volatility of the price of the Company's shares at the time of pricing, as well as market risks specific to the Company. The Company reserves the right, in particular in the event of unfavorable market developments, to terminate the subscription offer. The Company is targeting to receive gross proceeds from the capital increase of up to EUR200 million. The net proceeds are to be used for selective acquisitions in our existing core regions or in German metropolitan areas. A EUR130 million portion of the net proceeds will be used in the short-term for the repayment of credit lines utilized in past portfolio acquisitions and the financing of already signed acquisitions. After the repayment the credit lines will be available for further potential acquisitions. Subject to a continued favorable market environment for acquisitions, we expect to invest the total net proceeds within the next 12 to 15 months. Subject to the approval and publication of the prospectus, the subscription rights (ISIN DE000A1K03C7/WKN A1K03C) for the new shares will be traded during the period from November 15, 2011, up to and including November 24, 2011, on the regulated market (regulierter Markt) (XETRA and XETRA Frankfurt Specialist) of the Frankfurt Stock Exchange. The Company's existing shares will be quoted as ex-subscription rights (ex Bezugsrecht) on the Frankfurt Stock Exchange; such quotation is expected to commence on November 15, 2011. The new shares are expected to be included in the existing quotation for the Company's listed shares in the sub-segment of the regulated market with additional post-admission obligation (Prime Standard) on the Frankfurt Stock Exchange on December 1, 2011. Credit Suisse, Morgan Stanley and UBS Investment Bank act as Joint Global Coordinators and Joint Bookrunners for the capital increase. Deutsche Wohnen AG Pfaffenwiese 300 65929 Frankfurt am Main Germany International Securities Identification Numbers (ISINs): DE000A0HN5C6 / DE0006283302 / DE000A0XFUU5 Contact: Helge H. Hehl Tel.: +49 (0)30 897 86-551 ir@deutsche-wohnen.com/helge.hehl@ag.deuwo.com This information neither constitutes a prospectus, nor an offer or an invitation to purchase shares or other securities of Deutsche Wohnen AG nor does it replace the prospectus. Subject to the approval of the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin), a prospectus will be published before the commencement of the subscription period, which will be available free of charge from Deutsche Wohnen AG and the underwriting banks. This information does not constitute an offer to sell or buy securities in the USA, Canada, Australia and Japan. The shares of Deutsche Wohnen AG are allowed to be offered or sold in the USA only after prior registration in accordance with the provisions of the U.S. Securities Act 1993, as amended, or on the basis of a registration exemption. There will be no public offering of shares in the USA. This information contains forward-looking statements that are based upon current views and assumptions of the Deutsche Wohnen AG management, which were made to its best knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which could cause the earnings position, profitability, performance or the results of Deutsche Wohnen AG or the success of the housing industry to differ materially from the earnings position, profitability, performance or the results expressly or implicitly assumed or described in these forward-looking statements. In consideration of these risks, uncertainties and other factors, persons receiving these documents are advised not to unreasonably rely on these forward-looking statements. Deutsche Wohnen AG does not assume any obligation to update such forward-looking statements and to adjust them to any future results and developments. Contact: +49 (0)30 / 897 86 - 551 14.11.2011 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 Phone: +49 (0)30 89786-0 Fax: +49 (0)30 89786-507 E-mail: ir@deutsche-wohnen.com Internet: http://www.deutsche-wohnen.com ISIN: DE000A0HN5C6, DE0006283302 WKN: A0HN5C, 628330 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------