Adler Real Estate AG / Half Year ResultsRelease of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------+++ ADLER Real Estate AG announces its figures for the first six months2007 ++++++ EBIT rises to EUR 7.70 Mio. (Previous year: EUR 0.07 million) +++Hamburg, August 31 st, 2007. The real estate company, ADLER Real Estate AG(ISIN: DE0005008007), in Frankfurt announces the figures for the first sixmonths 2007. The operating income amounts to EUR 10.99 million as of June30, 2007 compared with EUR 1.17 million as of June 30, 2006. The EBIT couldbe increased from EUR 0.07 million on June 30, 2006 to EUR 7.70 million asof June 30, 2007. During the first six months 2007, the net income aftertaxes increased to EUR 7.6 million compared with the previous year by EUR7.26 million. The result per share amounts to EUR 0.51 as of June 30, 2007having a total of 15.000.000 shares. As of June 30, 2007, the balance sheetamounts to EUR 48.98 million, and the balance sheet increased from 37.05million by 32% for the first six months of the current business year. Thecompany's equity ratio represents 71.5% at the end of the first half year.As of June 30, 2007 the company has about EUR 11.27 in liquid funds. Hence,the increase mainly results from the takeover of the MÜBAU Real Estate GmbHas of January 1, 2007.The initial consolidation successfully leads to a surplus of EUR 8.15million between the purchase price and declared equity capital,simultaneously the balance sheet approaches has been confirmed through theliquidity-related sale of two properties in Munich and Berlin afterwrite-up in value.The semi-annual report is available underwww.adler-ag.de/htm/ir_berichte.php.The Management BoardContacts (see next page) If you may have any request please refer as follows:Company Contact:ADLER Real Estate AGNeuer Wall 7720354 Hamburgwww.adler-ag.de Telefon: +49 (40) 29 8130-0Telefax: +49 (40) 29 8130-99info@adler-ag.deAgency Contact:Gesellschaft für Effekteninformation mbHCarl Bosch HausHamburger Allee 26-2860486 Frankfurt am Mainwww.gfei.deTelefon: +49 (69) 74 30 37 00Telefax: +49 (69) 74 30 37 22ir-adler@gfei.deAbout ADLER Real Estate AG:ADLER Real Estate AG is active in commercial real estate development,portfolio investment and asset management. The Company's core competence isin the realization and marketing of high quality national and internationalreal estate projects. Hence, ADLER Real Estate AG agrees to strategicpartnership if major projects occur. ADLER Real Estate AG's history datesback to the renowned Adlerwerke in Frankfurt which were founded in the 19thcentury. Today, the majority shareholder of ADLER Real Estate AG is theU.S. Company Mezzanine IX.31.08.2007  Financial News transmitted by DGAP---------------------------------------------------------------------- Language:     EnglishIssuer:       Adler Real Estate AG              Neuer Wall 77              20354 Hamburg              DeutschlandPhone:        +49 (0)40 - 29 8130-0Fax:          +49 (0)40 - 29 8130-35E-mail:       info@adler-ag.deInternet:     www.adler-ag.deISIN:         DE0005008007WKN:          500800Indices:      Listed:       Amtlicher Markt in Berlin, Frankfurt (General Standard),              Düsseldorf, München; Freiverkehr in Hamburg End of News                                     DGAP News-Service ---------------------------------------------------------------------------