Symbolic laying of the Upper Eastside Berlin foundation stone

Project developer MEAG and a representative of the city of Berlin have laid the foundation stone for the Upper Eastside Berlin complex on the corner of Friedrichstraße and Unter den Linden.

"The Upper Eastside Berlin is being built on a street corner at the heart of Berlin that has always exemplified the vibrant spirit and pulsating lifestyle in Germany's capital", says Dr. Knut Riesmeier, Managing Director of MEAG. "There are many good reasons to invest in Berlin", Riesmeier continues. "International real estate investors prefer the world's up-and-coming metropolises for their investments. This applies to Berlin as a whole and in particular to what is probably its most prominent street corner. The Upper Eastside Berlin will become a driver of economic progress. Indeed, looking at the building activity going on there today, it already is."

The Upper Eastside Berlin is a MEAG project. MEAG is the asset manager of Munich Re and ERGO Insurance Group. With the construction of this eight-storey building ensemble, it is creating 40,000 sqm of office, retail and residential space at a prime location. City councillor responsible for construction Ephraim Gothe says: "We and the investors and architects are very happy to be laying the foundation stone for a group of buildings with such a high standard of architecture and design. It will be an outstanding new address where Friedrichstraße and Unter den Linden meet. This investment decision becomes Berlin: The city is unlike any other and always on the go."

MEAG MUNICH ERGO AssetManagement GmbH in München is the asset manager for Munich Re and ERGO Insurance Group. With offices in New York and Hong Kong, MEAG has an international orientation and also manages the assets of clients outside the Munich Re Group. MEAG currently manages assets to the value of around € 182 billion, of which around € 13 billion are held in real estate.

Munich, 19 September 2007

MEAG contact:
Dr. Josef Wild
Telephone: 089 | 2489 – 2072
Fax: 089 | 2489 – 2075
E-Mail: JWild@meag.com