LI>33,3 %-Stake of Galeria Dominikanska will be acquired from IVG Immobilien AG

Equity now completely invested

Deutsche EuroShop AG will acquire a 33,3 % stake in the shoppingcenter 'Galeria Dominikanska' in Wroclaw/Poland from IVG Immobilien AG as at 31.12.2003. The proportionate investment volume amounts to Euro 28.6 million. The acquistion has to be approved by the Polish Ministry of the Interior.

The Galeria Dominikanska was opened in August 2001 and houses approximately 100 shops on three levels with a total sales area of approximately 30,000 sqm. Additional 2,500 sqm of office premises are available. The shoppingcenter is located in vicinity of the historic Old Town of Wroclaw and well linked to public transport and roads. Over one million people are living in its catchment area. The store spaces are 100 % let long term to renowned retailers. Anchor-tenants are Media Markt, Ahold, Peek & Cloppenburg and C&A.

Deutsche EuroShop AG has now equity interests in 14 European shoppingcenters with a proportionate investment volume of approximately Euro 1.2 billion and is completely investe