January 2007 | The procurement of venture capital is a growing task for DEGEN

real estate backgrounds. In the second step, the sale of the developed investment to international,
private or institutional investors is on the agenda.

On account of the present market situation and existing framework agreements with private and
public banks, the procurement of financial resources and holdings has become an essential com-
ponent of the acquisition of suitable offers for Degen Consulting in the last few months. As a result
of the present decrease in saleable investment products as well as the shortage of capital of many
developers, Degen Consulting will continue to be involved in this business segment during the year.