1. CREATING FINANCIAL SUCCESS xxx
DIN A5?
Anderes Titelfoto?
CREATING FINANCIAL SUCCESS
xxx

2. Agenda Partners and Business domains KGAL: Facts and figures
Corporate Solutions
Products
References
Contacts
Examples of individual solutions
Funds and Asset Management
KGAL – Fund manager
Reference Funds and Asset Management

3. KG Allgemeine Leasing GmbH & Co.
Partners and Business domains
Haben wir auch ein gutes Foto vom Neubau, dem eigentlichen Sitz von CS?
Use the various bank logos
Dresdner Bank
45 %
BayernLB 30 %
Hamburger
Sparkasse1) 15 %
Sal. Oppenheim
10 %
KG Allgemeine Leasing GmbH & Co.
Corporate Solutions
Funds and Asset Management
1) über HASPA Finanzholding, die Holdinggesellschaft der Hamburger Sparkasse

4. KGAL: Facts and Figures
2007
New Business volume (in Billion EUR)
3,4
Portfolio volume (in Billion EUR)
30,1
Number of Leasing and Fund partners ca
Capital resources of KGAL (in Million EUR)
97,6
Employees/Staff
429 ?
Stand:

5. Corporate Solutions – Your partner for individual solutions
Capabilities
Classic leases
Investment models with leasing-like structures
Structured financing concepts
Service and advice
Performance parameters
Specialist knowledge to optimise finances
Expertise in questions regarding tax, contracts and accounting
Marketing structure with excellent client contacts
Regional networks
Good market reputation

6. Corporate Solutions: Products
Financial equipment leasing
Leasing fund and investment models
Operating Leasing and other Leasing models
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Models
Financial Advisory and Engineering

7. Corporate Solutions: Products
Financial equipment leasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Tailor-made leasing
All types of classic leasing models (Residual book value-, Rent advance- and Tenant-shareholding models)
All types of assets (Real estate, large-scale movables and intangible goods)
New construction leasing, Sale-and-lease-back, Buy-and-lease
To achieve original lease advantages e.g. the Off-Balance-Effekt, Liquidity/Personal capital protection, tax optimisation and when required, inclusion under ALBA BauProjektManagement GmbH.

8. Corporate Solutions: Products
Finanzierungsleasing
Leasing fund and
investment models
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Optimisation through the integration of investor capital
Leasing fund with long-term calculation basis for commercial sole investors
Investment models for (several) institutional investors in the form of Private Placements
Capital taxation models for major private investors, foundations
§ 6b EStG Models
For large-scale projects in the form of real estate, large installations/plants and movables

9. Corporate Solutions: Products
Finanzierungsleasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing and other leasing models
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Balance sheet neutrality and flexibility
Operating Leasing, e.g. for rolling Stock & road vehicles. To improve the performance and optimise the business ratings
Leasing models, e.g. For office and administrative buildings for the purpose of balance sheet neutrality and flexible arrangement of the utilisation period
With financing through investor capital and/or outside financing

10. Corporate Solutions: Products
Finanzierungsleasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Improvement of asset-efficiency
Mobilisation of real estate holdings of commercial and public businesses through restructuring, disincorporation or selling-off of properties
Optimisation of the law-governed business, balance sheet and tax status – in preparation for later utilization/marketing
Investment in real estate subsidiaries of companies (e.g. Real estate Joint venture) to improve financing and the flexibility of the portfolio management
Acquisition/Administration of owner rights for investors and the fulfillment of diverse tasks within the framework of asset management

11. Corporate Solutions: Products
Finanzierungsleasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Efficiency increases in the public sector
Financing- and realisation models in the form of hire purchase, leasing, leasing- and fund models
Particularly suitable to PPP-Models: All types of real estate, infrastructure properties like airports, waste incineration- and purifying installations as well as energy supply
With the goal, to achieve improved efficiency and save costs through public-private partnerships

12. Corporate Solutions: Products
Finanzierungsleasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Models
Financial Advisory and Engineering
Off-Balance according to international standards
IFRS-/US-GAAP conformable financing solutions for the protection of balance sheet neutrality
A demand of personal capital provision of the lessor can eventually, with the help of external capital lenders, also be accommodated
Basically for all types of assets (real estate, movables, intangible goods)

13. Corporate Solutions: Products
Finanzierungsleasing
Leasingfonds und Beteiligungsmodelle
Operating Leasing und andere Mietmodelle
Real Estate Portfolio Management
Public Private Partnerships (PPP)
IFRS-/US-GAAP-Modelle
Financial Advisory and Engineering
Advise, arrange and structure
Consultancy and structuring mandates with transactions with or without provision of financing and also on demand with Co-Partnership-Shareholding of KGAL
Provision of a company platform over real estate company/companies/SPC
Consulting/Participation with project development for large-scale projects and if required included in the placement of investments with investors
Streamlined solutions for the disincorporation of pension obligations for German groups over individual CTA models

14. References in south Germany (selection)

15. References in north/west Germany (selection)

16. Contacts
Paul Kleiner Head of Structured Finance Telefon:
Telefax:
Tölzer Straße 15, Grünwald
Christian Heidbrink Director Client Relationship Management Telefon:
Telefax:
Lurgiallee 16,
60439 Frankfurt am Main
Karl Breuling Director Client Relationship Management Telefon:
Telefax:
Ottostraße 3, München
Jochem Issel Director Client Relationship Management Telefon:
Telefax:
Niederkasseler Lohweg 191,
40547 Düsseldorf
Christian Petersen Director Client Relationship Management Telefon:
Telefax:
Ottostraße 3,
80333 München
Dieter Weiß
Managing Director Telefon:
Telefax:
Tölzer Straße 15,
82031 Grünwald
Marco Althaus Director Client Relationship Management Telefon:
Telefax:
Niederkasseler Lohweg 191,
40547 Düsseldorf

17. Lufthansa Aviation Centre Leasing model with group shareholding
Task
Construction of an office block in the immediate vicinity of Frankfurt Airport for the purpose of on-site concentration of the various staff working at the airport
Financing through the inclusion of captive financial means
Solution
Leasing model from KGAL with shareholding of a company from the Lufthansa Group
Considerable synergy effects and financial relief through the selected concept under the difficult frame requirements in the international air-travel sector
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Objekt
First phase of construction of the office block with m² BGF
1.800 work spaces
Volume
over 200 Million Eur
Lessee
Deutsche Lufthansa AG, Köln

18. MARITIM Airport Hotel, Düsseldorf Leasing Fund for Insurances
Task
Hotel construction within the framework of the development project „Düsseldorf Airport City“, for the biggest German congress hotel operator: MARITIM
Financing through long-term bank loan and investor capital of institutional investors
Solution
Structuring of a so-called Insurance-Shareholding model through KGAL with the investors Provinzial Rheinland Life Insurance and AXA Life Insurance
Long-term leasing contract (20 years from completion) with MARITIM Group within the framework of a Leasing Fund
Minimum-cost construction through MARITIM as prime contractor
no balance sheet taxing long-term capital binding for MARITIM (Off-Balance-Effekt)
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Property
4+ Star hotel with congress centre
533 Rooms, 470 TG-spaces
Volume
135 Million Eur
Lessee
MARITIM Group, Bad Salzuflen

19. KarstadtQuelle AG Real Estate Portfolio Management
Task
Reorganisation of real estate holdings for the purpose of active development, to improve the outcome transparencies and to increase the shareholder value
Usufructuary rights of properties to remain with KarstadtQuelle
Solution
Consolidation of the properties in 230 KGAL Property Companies
Shareholding of KarstadtQuelle AG (limited partners)
Conclusion of business leasing contracts for the next 5 years between the property companies and a subsidiary of KarstadtQuelle
Through the use of legal business opportunities, the portfolio could be structured further and the Group assured of the optimal use of the appreciation potential
Properties
Approx. 250 warehouses, car parks, office and logistics buildings nationwide
Volume
> 1 Billion Eur
Lessee
KarstadtQuelle-Group

20. Peek & Cloppenburg, Köln Cosmopolitan architecture and individual financing
Task
Expansion of the performance spectrum of P&C through a new shopping mall with a stylish shopping atmosphere
individual and creative financing concept as counterpart to the demanding, ambitious architecture (Renzo Piano)
Solution
Unusual shopping mall in Italian architecture with a cosmopolitan elegance and spaciousness as the perfect presentation tool for the fashions of P&C („Special Jury Award“ of the MIPIM 2006)
Tailor-made, efficient financing model from KGAL within the framework of a long-term leasing solution
Business leasing contract over 22,5 years from completion
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Projekt
Shopping experience „Weltstadthaus“ in Cologne‘s „Schilder“-alley
over m² total area
Volume
2 digit Million Euro range
Lessee
Peek & Cloppenburg KG (P&C),
Düsseldorf

21. Viterra AG Purchase of 27.000 Apartments in the Ruhr district
Task
Sale of non-strategy conforming apartment stock to optimise the real estate portfolio
Creation of additional scope to act with regards to flexible commerce strategies (Apartment privitisation and segmentation)
Solution
Acquisition of the apartments though a KGAL Real Estate Company
Transfer of rental contracts to the Real Estate Company, rights and obligations remain unchanged
Development and implementation of a detailed business plan with regards to the management and/or market-considered sale of segment portfolios
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Property
Around apartments in the Ruhr district, especially in Bochum, Dortmund, Gelsenkirchen, Gladbeck and Herne
Volume
3-digit Million Euro range
Client
Viterra AG (formerly 100 % E.ON Group, in the meantime changeover to Deutsche Annington)

22. Quelle AG, Linz Off-Balance-Effekt through IFRS conformable cross-border lease (Austria)
Task
Construction of a new logistics centre in Linz to deal with the dynamic expansion of mail-order business
Taking into account the IFRS directives due to international balancing of accounts of the KarstadtQuelle group
Solution
KGAL Proberty Corporation aquire the building project for the already existing project company
100% Financing through a bank loan from the Austrian Oberbank
Letting of the property after completion for 13,5 years according to Austrian law
Off-Balance-Effekt via IFRS through regulation conforming Cross-border lease, whilst observing national commerce and tax laws
Bild
Property
Automatic high-rise warehouse
Warehouse capacity Colli (= storage unit measurement)
Volume
Approx. 34 Million Euro
Lessee
Quelle AG, Linz
(100 % KarstadtQuelle-Konzern)

23. Munich Airport Centre (MAC) Private funds for Munich airport
Task
Construction of multi-functional airport centre to serve as a connection between Terminal 1 and 2
To achieve favourable long-term rents through the optimisation of building costs and financing
Solution
KGAL‘s investor model which contributes private capital to the total funding
Reduction of rent for Munich airport through interest-favourable investor capital
Technical Building Support through ALBA BauProjektManagement on behalf of the client (KGAL-Property Corporation)
Bild
Property
Airport-Center mit offices, shops, restaurants and conference rooms
m² BGF
Volume
Approx. 140 Million Euro
Lessee
Flughafen München GmbH (FMG)

24. Funds and Asset Management Your partner for Closed-end funds
Performance spectrum
Public funds
Private Placements
Funds with institutional investors
Types of assets
Aircraft
Ships
Real estate
Infrastructure
Private Equity

25. KGAL – Fund manager 2007 Fund portfolio Of which public funds: 308 114
Fund volume
23,4 Bill. EUR
7,9 Bill. EUR
Investor capital
9,9 Bill. EUR
5,6 Bill. EUR
Number of investors
Stand:

26. Asset Type: Aircraft KGAL‘s competence 19 Years‘ experience
Secured market access
Partner in excellence: GOAL – Joint Venture with Lufthansa AG (since 1989)
Strategy: Aircraft
Efficient Asset Management
Transactions with current aircraft models
Solid structuring
until 2006
Number of public funds 50
Total investment sum
2,34 Bill. EUR
Personal capital
1,44 Bill. EUR

27. Asset Type: Ships KGAL‘s competence Qualified market access
Excellent market survey
Partner in excellence: V.Ships – with employees one of the biggest independent shipping managers worldwide
Strategy: Ships
Proceeding selectively in a traditionally volatile market
until 2006
Number of public funds 6
Total investment sum
379,7 Mill. EUR
Personal capital
193,8 Mill. EUR

28. Asset Type: Real estate
KGAL‘s competence
Long-standing experience
On-site presence
Strategy: Real estate
Well-established investment approach to conventional individual properties
Innovative strategies like Fund of Fund or Fund in Fund
Private investors can invest similar to major investors
until 2006
Number of public funds 18
Total investment sum
1,63 Bill. EUR
Personal capital
842,1 Mill. EUR

29. Asset Type: Infrastructure
KGAL‘s competence
Long-standing experience
Secured market access
Partner in excellence:
Phoenix Solar AG
Babcock & Brown
Strategy: Infrastructure
Classic infrastructure projects
Future higher investment demand
Structuring of Umbrella fund
Investment in the market of the future: Solar energy. Installation centres in Germany, Spain & Greece
until 2006
Number of public funds 2
Total investment sum
41,4 Mill. EUR
Personal capital
10,6 Mill. EUR

30. Asset Type: Private Equity
KGAL‘s competence
Long-standing structuring competence
Prominent position in the market
Partner in excellence: Allianz Private Equity Partners GmbH (APEP)
Strategy: Private Equity
Participation in dynamic, growing markets
Joint investments with Allianz
until 2006
Number of Public funds 7
Total investment sum
560,2 Mill. EUR
Personal capital

31. Allianz Arena, Munich Stadium financing through Closed-end Funds
Task
Development of a financing structure to contribute to the financing of the investment sum of 340 Mill. EUR
Solution
Bank loan
Forfeiting of Allianz‘s naming rights
Privileges through a stadium concession agreement with the Bayern München Football Club
Loan from a KGAL fund company
Return on capital
Attractive fixed interest payment with the possibility of yield increase
Property
Seats
Surrounded by the biggest membrane-roof cover in the world
Volume
340 Mill. EUR
Building support
ALBA BauProjektManagement GmbH

32. Munich Airport Centre (MAC) Private funds for Munich Airport
Project
Expansion of Munich airport around a modern Airport Centre, which connects Terminal 1 and 2
Creative financing solution required
Solution
Development of an Investor model by KGAL, through which private investor capital is put to use
Property
qm office-, business- and conferencing space
41 m high – part-glass roof construction
Volumen
xxx.
Building supervision
ALBA BauProjektManagement GmbH – a KGAL business

33. AMA Building, Chicago US Real estate fund for multi-storey office block in America
Starting position
44,9% Shareholding through KGAL fund company in an American property company, who owns office real estate in Chicago
Fellow partner and Co-Investor: UBS Real Estate KAG.
Financing concept
Part-financing through KGAL‘s closed-end real estate fund with German private investor capital
Outside financing through American life insurances
Return on capital
100 % rental capacity utilization
Growing return on capital (yield) over the entire term
Property
Class-A Office Building
Rentable area: qm
Lessee
58 % American Medical Association (AMA)
Term 12 Years
Volume 63 Mill. USD

34. THANK YOU FOR YOUR ATTENTION