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Deutsche Wohnen AG is a Germany-based holding company, primarily engaged in the property management and development of its own residential property portfolio. The Company’s activities include support services for tenants, the management of tenancy agreements, ongoing maintenance and modernization, and the marketing of properties. As of December 31, 2008, the Company owned 50,489 residential units, 495 commercial units and 15,911 garages/parking spaces with an aggregated space of approximately 3.1 million square meters. Its residential property portfolio is located in the Rhine-Main area, Berlin and in the Federal States of Rhineland-Palatinate and Hessen. Approximately 26,500 of its apartments are located in Berlin. Through the GEHAG Group, Deutsche Wohnen AG is also engaged in the management of nursing homes and the provision of telecommunications services. As of December 31, 2008, the Company had 37 subsidiaries, located mainly in Berlin and Frankfurt/Main.

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