Hamburg, June 20, 2003. Mr. Dirk Hasselbring (35) was appointed by the supervisory board as new member of the board of Deutsche EuroShop AG effective June 18, 2003. Mr. Hasselbring succeeds Mr. Juergen Wundrack who surprisedly deceased in May during his vacation.

“When the business management contract with DB Real Estate Management GmbH expires end of June 2003 we will concentrate our activities in Hamburg and aim at our mid-term objective, the admission to the German mid cap index MDAX”, Dirk Hasselbring said.

Mr. Hasselbring was responsible for investor and public relations at Deutsche EuroShop AG since September 2002. Formerly the business manager was active as investor relations manager for an investment company for two years and beforehand he was nine years in leading position for a confirmed trustee in Kiel, which managed private and public real estate in the context of town redevelopment. During this activity Mr. Hasselbring was responsible also for the development and realization of closed-end real estate funds.