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thanks to the deployment of discreet security personnel. Baby changing rooms, customer toilets and cash machines com- plete the offering. It goes without saying that the centers are always clean. Every one of our tenants is automatically also a member of the marketing associa- tion of the center in question. This means that each tenant pays a share of the cent- er's marketing costs and can play an active role in the marketing strategy com- mittee. The marketing association plans events together with the center manage- ment making the shopping center into a lively marketplace: fashion shows, art exhibitions, country-themed weeks and information events dealing with a whole range of topics offer visitors new and fresh experiences time and again. Local associations and municipal authorities are also involved in the plans and are given the opportunity to represent them- selves in the center. The lavish center decorations for the Easter and Christmas periods are among the projects handled by the marketing associations. Another important area of the work is coordinating coherent advertising activ- ity for the center as a whole as well as editing a center newspaper, which is dis- tributed as an insert in regional daily newspapers in the catchment area and provides readers with regular and pro- fessional updates on events and news relating to the center. Radio ads, adverts on and inside local public transport and illuminated advertising posters ensure that the advertising campaigns reach a large audience. Investment guidelines DEUTSCHE EUROSHOP’S KEY INVESTMENT GUIDELINES CAN BE SUMMARISED AS FOLLOWS: Deutsche EuroShop invests exclusively in shopping centers. The minimum property size is 15,000 m² of which no more than 15% may be office space or other non-commercial usage. The locations must feature a catchment area of at least 300,000 inhabitants. Shopping center projects are only purchased when an executable construction authorization can be produced and 40% of the leasa- ble space is secured by long-term legally binding lease contracts. Project developments without the right to build or that cannot facilitate pre-letting can be taken over as a joint venture. Project development costs may not exceed 5% in individual cases or 10% in total of the Deutsche EuroShop equity. The main country of investment is Germany. In the long-term, investments in the rest of Europe may not exceed 25% of the total investment volume. 7 { 55 } DES ANNUAL REPORT 2012 THE CENTERS Portfolio

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