Corporate Governance

Fair Value REIT-AG on July 5, 2010

Notification according to §15a of the WpHG

Company: Kienzle Vermögensverwaltungs GmbH
Person performing managerial responsibilities, triggering the disclosure
requirement for the legal person

Details of the person performing managerial responsibilities
Position: Member of an administrative or supervisory body

Information about the transaction with duty of notification
Description of the financial instrument: Bearer share
ISIN/WKN of the financial instrument: DE000A0MW975
Type of transaction: Purchase
Date: 01.07.2010
Price: 4.20
Currency: EUR
No. of items: 50,000
Total amount traded: 210,000 €
Place: OTC

Information about the company with duty of publication
Issuer: Fair Value REIT-AG
Leopoldstraße 244
80807 München
ISIN: DE000A0MW975