Peach Property Group Ltd releases provisional key figures from 2010 annual results

• Consolidated net income amounts to CHF 82.1 million
• Annual result: CHF 18.0 million; EBIT: CHF 21.3 million
• Sales successes in Berlin, Hamburg and Wädenswil (Zurich)
• Building begins on Hamburg “Harvestehuder Weg 36” project

Zurich, 8 March 2011 – Listed on the SIX Swiss Exchange since 12 November 2010, Peach Property Group Ltd today released key figures from its annual results for 2010. The provisional figures show that Peach Property Group Ltd expects a post-tax annual result of CHF 18.0 million for 2010. This means Group results have remained positive in the second half of 2010, despite the negative impact of foreign currency exchange. Net income for financial year 2010 stands at CHF 82.1 million. Operating earnings (EBIT) amounted to CHF 21.3 million. At the end of 2010, Group equity stood at CHF 112 million, representing an equity ratio of 53%.

Good sales performance at all sites

Peach Property Group drove sales forward at a high level at all sites. Sales have proved pleasing for the Group’s Berlin projects “yoo berlin” and “Living 106”, and also for “Harvestehuder Weg 36” in Hamburg and “Peninsula Beach House” in Wädenswil, Zurich.

• The proportion sold at the “yoo berlin” project (sales completed or reserved) has risen from 25% at the time of the stock market flotation to 36% today. At “yoo berlin” Peach Property Group, in cooperation with designer Philippe Starck, is building 87 residential units in a unique location on the River Spree, in Berlin Mitte. The development includes penthouses, town houses and suites under the label “yoo inspired by Starck”. Target overall sales volume is EUR 83 million (CHF 108 million).

• The project “Living 106”, featuring 76 exclusive freehold and serviced apartments on Berlin’s centrally located Chausseestrasse was completed on time and within budget. 90% of the apartments have been sold, and the project, whose sales volume exceeded CHF 27 million, is nearing its successful close.

• Sales figures for the “Harvestehuder Weg 36” project, in Hamburg’s high-class district on the Aussenalster, are in line with Peach Property’s successful expansion in Germany. In February, sales of the “Alsterkamp 43” development section passed the 50% mark, allowing building to commence. Target total sales volume is EUR 85 million (CHF 110 million).

• Target sales volume for the Zurich “Peninsula Beach House” project in Wädenswil exceeds CHF 90 million. To date, sales of 12 of the 23 apartments have been reserved or closed. Thus the total proportion sold stands at 52%. A Beach House show apartment opens in mid-March 2011, based on the luxurious penthouse apartments. Thus customers can get a feel for life on the shores of Lake Zurich amid parkland landscaped by Enzo Enea, of Enea GmbH.

Dr. Thomas Wolfensberger, CEO of Peach Property Group Ltd, commented, “We are delighted at the flourishing sales of our unique residential developments. The dedication of our sales teams carries the day, and Peach Property Group Ltd’s expansion in Germany, Austria and Switzerland is forging ahead.”

Peach Property Group Ltd will publish its complete set of annual results on 6 April 2011 and explain them at a conference for analysts and the media.

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