KWG Kommunale Wohnen AG: Contract with Stavros Efremidis extended until 2018

Hamburg, 17.10.2012 - The Supervisory Board of KWG Kommunale Wohnen AG, the long-term oriented property holding company of German residential real estate, resolved in yesterday's meeting to extend the contract with CEO Stavros Efremidis until 31 January 2018. Stavros Efremidis has been a member of the Management Board at KWG since 2007. Torsten Hoffmann, CFO of KWG, also has a long term management contract at KWG until 2015.

Prof. Dr. Peer Witten, head of the Supervisory Board of KWG Kommunale Wohnen AG: 'By the long-term extension of the contract of Stavros Efremidis we strengthen continuity at KWG. As the CEO he had a major impact on the profitable and prosperous growth of the company throughout the past years. We are convinced the ongoing positive development of the company will thus continue in the future.'

About KWG AG
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of German residential real estate units. The company acquires residential real estate portfolios at attractive conditions in promising micro-locations of metropolitan regions and German regional centres and sustainably increases their value through an active real estate asset management. By refurbishments to high energy efficiency standards incidental costs for tenants are being lowered. KWG AG covers the complete value chain from acquisitions to construction management and its own internal property management. As a result vacancies are being reduced and income from net cold rent is being increased. This leads to value enhancements of the properties, above average Returns on Equity and profitability. KWG's shares are listed in the Entry Standard of the Frankfurt Stock Exchange.

Contact
KWG Kommunale Wohnen AG
Jan Hutterer
Alstertor 9
20095 Hamburg
Germany
Tel.: +49- 40- 2263088-100
eMail: ir@kwg-ag.de
www.kwg-ag.de

This release was published on openPR.