Upper Eastside Berlin celebrates topping out

The Upper Eastside Berlin is holding its topping-out ceremony today on Berlin's best-known street corner Friedrichstraße / Unter den Linden. The traditional topping-out garland was hoist atop the the building in front of 200 guests, among them the senator for urban development Ingeborg Junge-Reyer and MEAG's Global Head of Real Estate Dr. Knut Riesmeier.

"The Upper Eastside Berlin completes the centre of Berlin, which was so battered and destroyed by war and the city's division. The void at the corner of Friedrichstraße / Unter den Linden is now filled. The building gives this intersection – a symbol of Berlin's pulsating vibrance – an entirely new face," Riesmeier said at the ceremony. With this investment, MEAG is profiting from the upswing in this, one of the most exciting metropolises on the planet, he continues. The completion of this new group of buildings at the end of 2008 will mean that we have created not only a lasting asset, but also a piece of modern-day Berlin.

With this eight-storey building, MEAG is making 40,000 sqm of office, retail and residential space available in a prime location. Senator Junge-Reyer says: "It is a great pleasure for us to be accompanying the development of this building together with the investors and architects. It fits in perfectly with the international flair of the city: Berlin is one of a kind and always on the move."

MEAG MUNICH ERGO AssetManagement GmbH in Munich is the asset manager of 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 € 181 billion, of which around € 12 billion are held in real estate.


Munich, 7 May 2008


Contact:
Dr. Josef Wild
Telephone: +49 89 | 2489 - 2072
Fax: +49 89 | 2489 - 2075
Email: JWild@meag.com