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Deutsche EuroShop generates approx. EUR 132 million from its successful rights offering - More than 6-times oversubscribed

- Not for release, publication or distribution in the United States, Canada, Japan and Australia -


Hamburg, November 23, 2010 - The shareholders of Deutsche EuroShop AG have exercised subscription and oversubscription rights for all 5,736,822 new shares offered in connection with the company's rights offering, the subscription period for which ended as planned on November 22, 2010.


Following the exercise of 92.34 % of the shareholders' subscription rights, 439,291 shares remain available for oversubscriptions. In total, oversubscriptions for 31,654,838 shares were submitted. Due to the high rate of oversubscription, approx. 1.39 % of each effective oversubscription
will be fulfilled. The total subscriptions and oversubscriptions amounted to just under EUR 850 million, which corresponds to a 6.4-times oversubscription rate.

Deutsche EuroShop will receive gross proceeds from the rights offering of approximately EUR 132 million. The proceeds are to be used to finance the acquisition of the Billstedt-Center Hamburg and further shopping center investments.

'We are very happy that once again our capital increase has been received very positively,' said Claus-Matthias Böge, CEO of Deutsche EuroShop. 'The market, in our view, is acknowledging our growth, in which we have already invested around EUR 470 million this year.'

Olaf Borkers, CFO of Deutsche EuroShop, added: 'Our shareholders have trusted us with approximately EUR 255 million of fresh capital in two capital increases for cash in 2010. This allows us to maintain our conservative financing approach and achieve solid growth.'

Upon the registration of the capital increase in the commercial register, which is expected to occur by November 25, 2010, the total number of outstanding shares of the company will rise to 51,631,400. Delivery and payment for the new shares is expected to take place on Friday, November 26, 2010, but at the earliest upon their admission to stock exchange trading.

The Co-Lead Managers for the transaction were COMMERZBANK Aktiengesellschaft and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main.

Deutsche EuroShop AG
Management Board

This publication constitutes neither an offer to sell nor a solicitation of an offer to buy securities. In particular, this document constitutes neither an offer to sell nor a solicitation of an offer to purchase securities in the United States. The shares in Deutsche EuroShop AG (the 'Shares') may not be offered or sold in the United States or to or for the account or benefit of 'U. S. persons' (as such term is defined in Regulation S under the U. S. Securities Act of 1933, as amended (the 'Securities Act')) absent registration or an exemption from registration under the Securities Act. The Shares have not been and will not be registered under the Securities Act. Any public offering of securities in the United States must be made by means of a prospectus that may be obtained from the issuer and that contains detailed information about the company and management as well as financial statements. There will be no public offering of Shares in the United States.

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