Recommendation
of the Board of Management and Supervisory Board

On September 22, 2008, the Board of Management and the Supervisory Board of POLIS Immobilien AG published their joint response to the mandatory takeover bid of the Mann Immobilien-Verwaltung AG in accordance with Paragraph 27 Section 1 of the German Securities Acquisition and Takeover Act. On October 1, 2008, the Board of Management and the Supervisory Board published an addendum to the joint response.

The joint response and addendum thereto can be downloaded below.