Chairman of the Supervisory Board of Deutsche Wohnen AG resigns

Hermann T. Dambach is the Chief Executive Officer of the Frankfurt/Main-based Oaktree GmbH. The US investment company Oaktree had held a stake via its OCM fund in GEHAG and subsequently Deutsche Wohnen. By selling all of its shares on the stock market on 31 January 2011 Oaktree ceased to be an investor in Deutsche Wohnen AG.

Hermann T. Dambach stated, “Today I have informed the Annual General Meeting of my decision to resign from my Supervisory Board post with Deutsche Wohnen AG. I am leaving the Supervisory Board with complete certainty that the company is very much on the right path. Deutsche Wohnen has a clear and efficient structure and is in excellent shape. As the recently announced acquisitions confirm, the company is growing steadily and sustainably. In the meantime this extremely well-positioned company is one of the market leaders in its sector – something that certainly sets standards. The management enjoys the complete confidence of the Supervisory Board and – as can be seen by the development of the share price over recent months – of the shareholders too.”

In accordance with the statutes of the company Mr Dambach will remain chairman of the Supervisory Board until 30 June 2011. By this time the Supervisory Board will decide on a successor. In addition, a new member will be appointed to the Supervisory Board.

Michael Zahn, Chief Executive Officer of Deutsche Wohnen AG, said, “On behalf of the board of directors and of all our staff I would like to thank Hermann Dambach personally for his sustained commitment to Deutsche Wohnen AG. His era as chairman of the Supervisory Board has been a time of very decisive strategic choices. Throughout this period Mr Dambach has always actively supported us with his advice, good will and vision.”