GAGFAH S.A.: Notification on Final Purchase Price for the acquisition of own shares within the Share Buy-Back Offer

GAGFAH S.A.
2-4, rue Beck
1222 Luxembourg
Grand-Duchy of Luxembourg

ISIN: LU0269583422
Frankfurt Stock Exchange, Official Market (Prime Standard)

Shares Tendered for Sale: ISIN: LU0719733874

Notification on Final Purchase Price
for the acquisition of own shares within the Share Buy-Back Offer

Luxembourg, 04 May 2012 - Under the Share Buy-Back Offer for the acquisition of own shares, which was published on the website of GAGFAH S.A. at www.gagfah.com on 28 March 2012, an overall number of 12,854,682 shares has been tendered to GAGFAH S.A. within the price range from EUR 6.00 to EUR 6.75.

The Final Purchase Price as determined by the Company upon expiration of the acceptance period according to section 3.2 of the Offer Document has been calculated via a modified Dutch Auction process and amounts to EUR 6.70 per share. Shares which have been tendered at a price higher than the Final Purchase Price will not be accepted for buy-back.

As the aggregate purchase price for the 11,844,178 shares for which the offer has been accepted at the Final Purchase Price or at a lower price amounts to EUR 79,355,992.60 and thus exceeds the repurchase value of EUR 75,000,000 there will be a pro-rata allocation of the Relevant Tenders at a ratio of 1 to 1.0581 rounded down to the next full number of shares.

The final result of the Share Buy-Back Offer calculated on the basis of the pro-rata allocation will be published in due course.

Contact
GAGFAH S.A.
Investor Relations
2-4, rue Beck
L-1222 Luxembourg
Tel.: +352 266 366 21
Mail: rhoffmann@gagfah.com
www.gagfah.com
R.C.S. Luxembourg B 109.526

About GAGFAH S.A.

GAGFAH S.A. is a joint stock corporation organized under the laws of the Grand Duchy of Luxembourg qualifying as a securitization company under the Luxembourg Securitization Law of March 22, 2004. The core business of GAGFAH S.A.'s operating subsidiaries is the ownership and management of a geographically diversified and well maintained residential property portfolio located throughout Germany. With a portfolio of almost 150,000 apartments, GAGFAH is the largest residential property company listed in Germany.