29.01.2010

HCI Capital places around EUR 126 million equity capital in 2009

• Ship investment remains strongest asset class
• Expansion of asset class renewable energy in 2010
• Start of HCI residential real estate fund in Hamburg

Hamburg, 29 January 2010 – HCI Capital AG, one of the leading independent issuing houses for closed-end funds, achieved a placement result in 2009 of about EUR 126 million. "Despite the extremely difficult market environment, with our customised product solutions for investors we placed a wide range of investments across various asset classes," said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG. "In particular, our innovative products such as asset creation plans and guarantee products were well received by investors."

The continuing global financial and economic crisis has had an enormous impact on investors’ behaviour in 2009. As with many other product classes, the market development of closed-end funds was marked by strong investor restraint. During 2009, the total market for closed-end funds saw a significant reduction in placement against the previous year. Correspondingly, the placement result for the HCI Group in the 2009 financial year totalled about EUR 126 million and was significantly lower than in the previous year (EUR 598.6 million).

Ship funds succeed with customised concepts

Bucking market trends, ship investments remain the strongest product area for the HCI Group. HCI was able to raise approximately EUR 85.7 million in equity capital in this area. This comprises about EUR 51.2 million for classic closed-end funds, EUR 18.9 million in asset creation plans, and EUR 9.3 million for guarantee products. This category also includes the two capital guaranteed certificates based on the Baltic Dry fright rate index that HCI marketed in September and November 2009, respectively. Here HCI was able to place around EUR 6.3 million in investor equity capital.

Expansion of renewable energy segment with solar power funds

The HCI Group achieved a placement result totalling some EUR 24 million in the Energy and Commodities product area. The HCI Group was able to close its first solar power fund, HCI Energy 1 Solar, as early as August 2009 after only a short placement period when it reached the target placement volume of EUR 10.2 million. The capital guaranteed version of the Deepsea Oil Explorer also raised around EUR 4.9 million by the end of 2009. The classic closed-end fund HCI Deepsea Oil Explorer achieved a placement volume of some EUR 9 million during the reporting period. In the Secondary Life Insurance Market product area a total of EUR 12.5 million was raised with the product HSC Optivita XI UK and asset creation plans.

Start of HCI residential real estate fund in Hamburg – Second solar power fund in preparation

After the successful placement of the first solar power fund in the previous year, the HCI Group is planning a further solar power fund to invest in two solar power parks in southern Germany. This fund is set to be made available to investors for subscription in the first quarter of 2010. In addition to renewable energy products, at the moment investors are strongly focussed on real estate investments. In January 2010, HCI began marketing the new residential real estate fund HCI Wohnkonzept Hamburg, which invests in energy-efficient new residential real estate in the Hamburg metropolitan area. In 2010, the HCI Group intends to continue expanding its real estate investment products and its renewable energy product range. HCI will also continue to offer a wide range of customised products in the asset class Ship.

HCI Capital AG will publish its full 2009 Annual Report on March 15th , 2010.

About HCI:
Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 122,000 clients had invested around EUR 5.9 billion in 508 issues, with an investment volume of EUR 14.8 billion (figures as at 31 December 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Tel.: +49 40 88 88 1 1100
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Tel.: +49 40 88 88 1 1102
christina.hoke@hci-capital.de

29.01.2010

HCI Capital places around EUR 126 million equity capital in 2009

• Ship investment remains strongest asset class
• Expansion of asset class renewable energy in 2010
• Start of HCI residential real estate fund in Hamburg

Hamburg, 29 January 2010 – HCI Capital AG, one of the leading independent issuing houses for closed-end funds, achieved a placement result in 2009 of about EUR 126 million. "Despite the extremely difficult market environment, with our customised product solutions for investors we placed a wide range of investments across various asset classes," said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG. "In particular, our innovative products such as asset creation plans and guarantee products were well received by investors."

The continuing global financial and economic crisis has had an enormous impact on investors’ behaviour in 2009. As with many other product classes, the market development of closed-end funds was marked by strong investor restraint. During 2009, the total market for closed-end funds saw a significant reduction in placement against the previous year. Correspondingly, the placement result for the HCI Group in the 2009 financial year totalled about EUR 126 million and was significantly lower than in the previous year (EUR 598.6 million).

Ship funds succeed with customised concepts

Bucking market trends, ship investments remain the strongest product area for the HCI Group. HCI was able to raise approximately EUR 85.7 million in equity capital in this area. This comprises about EUR 51.2 million for classic closed-end funds, EUR 18.9 million in asset creation plans, and EUR 9.3 million for guarantee products. This category also includes the two capital guaranteed certificates based on the Baltic Dry fright rate index that HCI marketed in September and November 2009, respectively. Here HCI was able to place around EUR 6.3 million in investor equity capital.

Expansion of renewable energy segment with solar power funds

The HCI Group achieved a placement result totalling some EUR 24 million in the Energy and Commodities product area. The HCI Group was able to close its first solar power fund, HCI Energy 1 Solar, as early as August 2009 after only a short placement period when it reached the target placement volume of EUR 10.2 million. The capital guaranteed version of the Deepsea Oil Explorer also raised around EUR 4.9 million by the end of 2009. The classic closed-end fund HCI Deepsea Oil Explorer achieved a placement volume of some EUR 9 million during the reporting period. In the Secondary Life Insurance Market product area a total of EUR 12.5 million was raised with the product HSC Optivita XI UK and asset creation plans.

Start of HCI residential real estate fund in Hamburg – Second solar power fund in preparation

After the successful placement of the first solar power fund in the previous year, the HCI Group is planning a further solar power fund to invest in two solar power parks in southern Germany. This fund is set to be made available to investors for subscription in the first quarter of 2010. In addition to renewable energy products, at the moment investors are strongly focussed on real estate investments. In January 2010, HCI began marketing the new residential real estate fund HCI Wohnkonzept Hamburg, which invests in energy-efficient new residential real estate in the Hamburg metropolitan area. In 2010, the HCI Group intends to continue expanding its real estate investment products and its renewable energy product range. HCI will also continue to offer a wide range of customised products in the asset class Ship.

HCI Capital AG will publish its full 2009 Annual Report on March 15th , 2010.

About HCI:
Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 122,000 clients had invested around EUR 5.9 billion in 508 issues, with an investment volume of EUR 14.8 billion (figures as at 31 December 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Tel.: +49 40 88 88 1 1100
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Tel.: +49 40 88 88 1 1102
christina.hoke@hci-capital.de

30.11.2009

HCI Capital AG places over EUR 100 million

• Restructuring concept submitted for decision
• Steady placement of ship investments
• Costs reduced substantially

Hamburg, 30 November 2009 – HCI Capital AG, one of the leading independent issuing houses for closed-end funds, achieved a placement result of about EUR 100.3 million in the first nine months of 2009 despite a market environment that continued to be difficult. With a nine-month result influenced mainly by market-related one-off effects without effect on liquidity the HCI Group also succeeded in reducing personnel and material costs by about 14 % in all. The restructuring concept announced in August has been submitted to the banks for board approval.

In August the HCI Group had already agreed a comprehensive restructuring concept with HSH Nordbank and the Commerzbank Group. It consists mainly of a long-term moratorium agreement and a release from liability for all material contingent liabilities to banks, followed by a capital increase. The negotiating process with the banks has now reached a stage at which the concept has been submitted to the banks’ boards for approval. “This is a further important step in taking forward this hitherto unique concept for the industry,” said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

HCI continues to place substantial amount of ship investments

In the first nine months of financial year 2009 the HCI Group placed about EUR 100.3 million. This result, like comparable figures in the market overall, is well below the previous year’s figure. In spite of the difficult market environment, however, the HCI Group was able to place products in a variety of asset classes.

Investments in ships continue to be HCI’s strongest product area. In this area HCI was able to raise about EUR 64.5 million in equity capital invested in classic closed-end funds, asset creation plans, guarantee products and certificates. It consisted of EUR 36.2 million in classic closed-end funds, EUR 15.5 million in asset creation plans and EUR 8.9 million in guarantee products. A capital guaranteed certificate based on the Baltic Dry freight rate index that was floated in September 2009 raised EUR 3.9 million in investors’ money in a subscription period of around four weeks. “With a wide range of products tailored to suit investors’ needs we succeed, in spite of the current difficult market environment, in placing funds in the ship investment asset class continuously and in significant amounts,” Dr. Friedrichs said.

In the Energy & Commodities product area EUR 22.1 million was placed in the first nine months, including about EUR 4.4 million placed in the capital guaranteed version of the Deepsea Oil Explorer by 30 September 2009. The classic HCI Deepsea Oil Explorer’s place¬ment volume in the reporting period was EUR 7.5 million. The HCI Group was able to close its first solar power fund, HCI Energy 1, successfully in August 2009 with a target volume of EUR 10.2 million. In the Secondary Life Insurance Market product area a total of EUR 10.4 million was invested in the current product HSC Optivita XI UK and in asset creation plans.

Significant savings in personnel and material costs

Due to placement figures down on the previous year the HCI Group earned about EUR 32.1 million in revenues, which was much less than in 2008. This business trend, along with value impairments without effect on liquidity that the Group made on a number of investments and receivables in the first half of 2009, led to negative earnings after tax of EUR -41.8 million. On the expenses side the HCI Group implemented extensive cost reduction measures in 2009 in view of the difficult market environment. Personnel and material costs were reduced by about 14% in all. Including the cost of purchased services, costs have been cut by about 52%. As at 30 September 2009 the HCI Group held cash and cash equivalents totalling EUR 18.0 million.

About HCI:
Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 121,800 clients had invested more than EUR 5.9 billion in 506 issues, with an investment volume of EUR 14.8 billion (figures as at 30 September 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de

30.11.2009

HCI Capital AG places over EUR 100 million

• Restructuring concept submitted for decision
• Steady placement of ship investments
• Costs reduced substantially

Hamburg, 30 November 2009 – HCI Capital AG, one of the leading independent issuing houses for closed-end funds, achieved a placement result of about EUR 100.3 million in the first nine months of 2009 despite a market environment that continued to be difficult. With a nine-month result influenced mainly by market-related one-off effects without effect on liquidity the HCI Group also succeeded in reducing personnel and material costs by about 14 % in all. The restructuring concept announced in August has been submitted to the banks for board approval.

In August the HCI Group had already agreed a comprehensive restructuring concept with HSH Nordbank and the Commerzbank Group. It consists mainly of a long-term moratorium agreement and a release from liability for all material contingent liabilities to banks, followed by a capital increase. The negotiating process with the banks has now reached a stage at which the concept has been submitted to the banks’ boards for approval. “This is a further important step in taking forward this hitherto unique concept for the industry,” said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

HCI continues to place substantial amount of ship investments

In the first nine months of financial year 2009 the HCI Group placed about EUR 100.3 million. This result, like comparable figures in the market overall, is well below the previous year’s figure. In spite of the difficult market environment, however, the HCI Group was able to place products in a variety of asset classes.

Investments in ships continue to be HCI’s strongest product area. In this area HCI was able to raise about EUR 64.5 million in equity capital invested in classic closed-end funds, asset creation plans, guarantee products and certificates. It consisted of EUR 36.2 million in classic closed-end funds, EUR 15.5 million in asset creation plans and EUR 8.9 million in guarantee products. A capital guaranteed certificate based on the Baltic Dry freight rate index that was floated in September 2009 raised EUR 3.9 million in investors’ money in a subscription period of around four weeks. “With a wide range of products tailored to suit investors’ needs we succeed, in spite of the current difficult market environment, in placing funds in the ship investment asset class continuously and in significant amounts,” Dr. Friedrichs said.

In the Energy & Commodities product area EUR 22.1 million was placed in the first nine months, including about EUR 4.4 million placed in the capital guaranteed version of the Deepsea Oil Explorer by 30 September 2009. The classic HCI Deepsea Oil Explorer’s place¬ment volume in the reporting period was EUR 7.5 million. The HCI Group was able to close its first solar power fund, HCI Energy 1, successfully in August 2009 with a target volume of EUR 10.2 million. In the Secondary Life Insurance Market product area a total of EUR 10.4 million was invested in the current product HSC Optivita XI UK and in asset creation plans.

Significant savings in personnel and material costs

Due to placement figures down on the previous year the HCI Group earned about EUR 32.1 million in revenues, which was much less than in 2008. This business trend, along with value impairments without effect on liquidity that the Group made on a number of investments and receivables in the first half of 2009, led to negative earnings after tax of EUR -41.8 million. On the expenses side the HCI Group implemented extensive cost reduction measures in 2009 in view of the difficult market environment. Personnel and material costs were reduced by about 14% in all. Including the cost of purchased services, costs have been cut by about 52%. As at 30 September 2009 the HCI Group held cash and cash equivalents totalling EUR 18.0 million.

About HCI:
Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 121,800 clients had invested more than EUR 5.9 billion in 506 issues, with an investment volume of EUR 14.8 billion (figures as at 30 September 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de

28.08.2009

HCI Capital AG agrees comprehensive restructuring concept with principal creditors

• Multi-stage implementation of release from contingent liabilities and capital measures
• Placement result up 43% on Q1 2009
• First-half result: Special effects due to value adjustments

Hamburg, 28 August 2009 – HCI Capital AG, one of the leading closed-end fund, bank-independent issuing houses, has reached a key milestone in coping with the crisis in the difficult current market environment. A comprehensive restructuring concept has been agreed with the Company’s principal creditor banks and principal shareholders that is aimed at releasing the HCI Group from all material contingent liabilities to banks and at achieving lasting liquidity safeguards. The course of business in the first half of 2009 continued to be shaped by the difficult market environment. The Group nevertheless succeeded in increasing its placement result in the second quarter by about 43% on the previous quarter.

The detailed restructuring plan is a multi-stage concept discussed and accepted after several months of negotiations by the principal creditor banks HSH Nordbank AG and the Commerzbank Group and the principal shareholders MPC Capital AG and the Döhle Group and now in the final stage of negotiations with the other banks. The concept consists of a long-term moratorium, the simultaneous release from liability for all material contingent liabilities to banks, a subsequent capital increase in cash, and the conversion of existing HCI Capital AG financing. The two principal creditor banks account for the main share (about three quarters) of the Company’s contingent liabilities. The concept still needs to be agreed finally with all the other creditor banks in the weeks ahead and is subject, among other things, to unanimous consent of other banks involved.

 
“In our discussions with the banks and our principal shareholders we have taken the most important steps toward seeing HCI through the market crisis,” said Dr. Ralf Friedrichs, HCI Capital AG’s Management Board Chairman. “The concept that we drew up jointly is a major milestone for the Company. It must now be implemented consistently with all partners.”

 
Release from all material contingent liabilities to banks

 
HCI Capital AG aims to agree with the banks on an irrevocable moratorium on claims for contingent liabilities until 30 June 2013. At the same a phased total release from the overwhelming majority of existing contingent liabilities is planned to be concluded by 28 February 2010.

 
On completion of the release from contingent liabilities a EUR 22 million cash capital increase is intended to be undertaken. It would be guaranteed by MPC Capital AG and the Döhle Group should the other shareholders not exercise their subscription right.

 
In addition, the banks are to receive a claim against HCI Capital AG in the form of a EUR 12.5 million debtor warrant the details of which have yet to be agreed.
Furthermore, a deferral until 30 September 2010 of loan repayments to banks totalling about EUR 36 million plus interest was agreed. Conversion of the deferred liabilities into equity capital or, alternatively, into long-term funding is being considered to ensure that the HCI Group’s cash flow is not impaired with lasting effect.

 
Q2 2009 placement result shows improvement on Q1 2009

The HCI Group placed products in nearly all asset classes with investors in the first half of 2009 and achieved in the reporting period a placement result of EUR 73.1 million that was significantly lower than the previous year’s EUR 340.5 million. The Group was, however, able to increase the volume of its placements to EUR 43.0 million in the second quarter compared with the first quarter’s EUR 30.1 million. The Group thereby held its own against the negative market trend for closed-end funds reported by the industry association VGF as a more than 19% overall market decline in the second quarter compared with the first quarter of 2009.

 
With a total of EUR 48.2 million in equity capital placed, investment in ships continues to be HCI’s largest product area, consisting of EUR 29.6 million in classic closed-end ship funds, EUR 10.7 million in asset creation plans and EUR 7.9 million in guaranteed products. The Energy and Commodities product area made another major contribution toward the placement result. About EUR 5.7 million was raised for the HCI Deepsea Oil Explorer fund and a further EUR 2.6 million was placed in the capital-guaranteed version of the fund, Deepsea Oil Explorer Protect, which has been on sale since May 2009. In addition, HCI added a product in the renewable energies asset class to this product area at the beginning of April 2009. By the end of June investors had already placed EUR 6.8 million in the HCI Energy 1 Solar fund. The fund was fully placed by mid-August 2009.

 
Result shaped by special effects – Cost reduction measures implemented

 
In keeping with the reduced course of placement, HCI Group revenue totalled about EUR 22.7 million in the first half of 2009, less than the previous year’s EUR 61.6 million. Due to factors including the current situation on international shipping markets and poor forecasts for these markets, the Group made significant value adjustments on a number of investments and receivables in the first half of 2009, mainly without effect on liquidity. Mainly due to market-related value adjustments and other special effects totalling EUR 30.2 million, the consolidated result after taxes was EUR -36.1 million.

 
Personnel and other operating expenses were reduced by about 15.3% in the reporting period as a result of the cost reduction programme initiated at the beginning of the year. Along with a significant decline in other expenses, personnel expenses were about 20% down on the previous year at EUR 12.3 million. As at 30 June 2009 the HCI Group had an equity ratio of 38.9%. In the first half of 2009 the Group also earned a positive cash flow from operating activities and held EUR 22.6 million in cash and cash equivalents at 30 June 2009.

 
HCI Capital AG is to publish its half-yearly financial report for 2009 today as previously announced.

Contacts:
 

Dr. Olaf Streuer
HCI Capital AG
Leiter Unternehmenskommunikation
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Presse- und Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de
 

28.08.2009

HCI Capital AG agrees comprehensive restructuring concept with principal creditors

• Multi-stage implementation of release from contingent liabilities and capital measures
• Placement result up 43% on Q1 2009
• First-half result: Special effects due to value adjustments

Hamburg, 28 August 2009 – HCI Capital AG, one of the leading closed-end fund, bank-independent issuing houses, has reached a key milestone in coping with the crisis in the difficult current market environment. A comprehensive restructuring concept has been agreed with the Company’s principal creditor banks and principal shareholders that is aimed at releasing the HCI Group from all material contingent liabilities to banks and at achieving lasting liquidity safeguards. The course of business in the first half of 2009 continued to be shaped by the difficult market environment. The Group nevertheless succeeded in increasing its placement result in the second quarter by about 43% on the previous quarter.

The detailed restructuring plan is a multi-stage concept discussed and accepted after several months of negotiations by the principal creditor banks HSH Nordbank AG and the Commerzbank Group and the principal shareholders MPC Capital AG and the Döhle Group and now in the final stage of negotiations with the other banks. The concept consists of a long-term moratorium, the simultaneous release from liability for all material contingent liabilities to banks, a subsequent capital increase in cash, and the conversion of existing HCI Capital AG financing. The two principal creditor banks account for the main share (about three quarters) of the Company’s contingent liabilities. The concept still needs to be agreed finally with all the other creditor banks in the weeks ahead and is subject, among other things, to unanimous consent of other banks involved.

 
“In our discussions with the banks and our principal shareholders we have taken the most important steps toward seeing HCI through the market crisis,” said Dr. Ralf Friedrichs, HCI Capital AG’s Management Board Chairman. “The concept that we drew up jointly is a major milestone for the Company. It must now be implemented consistently with all partners.”

 
Release from all material contingent liabilities to banks

 
HCI Capital AG aims to agree with the banks on an irrevocable moratorium on claims for contingent liabilities until 30 June 2013. At the same a phased total release from the overwhelming majority of existing contingent liabilities is planned to be concluded by 28 February 2010.

 
On completion of the release from contingent liabilities a EUR 22 million cash capital increase is intended to be undertaken. It would be guaranteed by MPC Capital AG and the Döhle Group should the other shareholders not exercise their subscription right.

 
In addition, the banks are to receive a claim against HCI Capital AG in the form of a EUR 12.5 million debtor warrant the details of which have yet to be agreed.
Furthermore, a deferral until 30 September 2010 of loan repayments to banks totalling about EUR 36 million plus interest was agreed. Conversion of the deferred liabilities into equity capital or, alternatively, into long-term funding is being considered to ensure that the HCI Group’s cash flow is not impaired with lasting effect.

 
Q2 2009 placement result shows improvement on Q1 2009

The HCI Group placed products in nearly all asset classes with investors in the first half of 2009 and achieved in the reporting period a placement result of EUR 73.1 million that was significantly lower than the previous year’s EUR 340.5 million. The Group was, however, able to increase the volume of its placements to EUR 43.0 million in the second quarter compared with the first quarter’s EUR 30.1 million. The Group thereby held its own against the negative market trend for closed-end funds reported by the industry association VGF as a more than 19% overall market decline in the second quarter compared with the first quarter of 2009.

 
With a total of EUR 48.2 million in equity capital placed, investment in ships continues to be HCI’s largest product area, consisting of EUR 29.6 million in classic closed-end ship funds, EUR 10.7 million in asset creation plans and EUR 7.9 million in guaranteed products. The Energy and Commodities product area made another major contribution toward the placement result. About EUR 5.7 million was raised for the HCI Deepsea Oil Explorer fund and a further EUR 2.6 million was placed in the capital-guaranteed version of the fund, Deepsea Oil Explorer Protect, which has been on sale since May 2009. In addition, HCI added a product in the renewable energies asset class to this product area at the beginning of April 2009. By the end of June investors had already placed EUR 6.8 million in the HCI Energy 1 Solar fund. The fund was fully placed by mid-August 2009.

 
Result shaped by special effects – Cost reduction measures implemented

 
In keeping with the reduced course of placement, HCI Group revenue totalled about EUR 22.7 million in the first half of 2009, less than the previous year’s EUR 61.6 million. Due to factors including the current situation on international shipping markets and poor forecasts for these markets, the Group made significant value adjustments on a number of investments and receivables in the first half of 2009, mainly without effect on liquidity. Mainly due to market-related value adjustments and other special effects totalling EUR 30.2 million, the consolidated result after taxes was EUR -36.1 million.

 
Personnel and other operating expenses were reduced by about 15.3% in the reporting period as a result of the cost reduction programme initiated at the beginning of the year. Along with a significant decline in other expenses, personnel expenses were about 20% down on the previous year at EUR 12.3 million. As at 30 June 2009 the HCI Group had an equity ratio of 38.9%. In the first half of 2009 the Group also earned a positive cash flow from operating activities and held EUR 22.6 million in cash and cash equivalents at 30 June 2009.

 
HCI Capital AG is to publish its half-yearly financial report for 2009 today as previously announced.

Contacts:
 

Dr. Olaf Streuer
HCI Capital AG
Leiter Unternehmenskommunikation
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Presse- und Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de
 

12.05.2009

HCI Capital AG shows continuous placement activity

• Placement result of EUR 30.1 million in first quarter
• Difficult market environment leads to investor restraint
• HCI reduces material costs by 19% as planned

Hamburg, 12 May 2009 – HCI Capital AG, one of Germany’s leading independent issuing houses for closed-end funds, reports sales down markedly in the first three months of 2009. Due to general restraint on the part of investors, the amount of equity placed fell to EUR 30.1 million. With its extensive sales network and diversified product range, the HCI Group was however able to place funds in all product classes offered. 

The ongoing worldwide financial and economic crisis continued to shape investor behaviour in the first quarter of 2009. The unchanged market trend in closed-end funds is still characterised by considerable restraint on the part of investors. Against this background the amount of capital the HCI Group placed in the first quarter of the 2009 business year was down sharply on the year to a total of around EUR 30.1 million.

The HCI Group nevertheless continued to place products from all segments with investors. With a total EUR 21.5 million of capital placed, investments in ships remain the strongest asset class in the HCI portfolio, consisting of EUR 10.4 million in classic closed-end ship funds, EUR 5.7 million in the form of asset creation plans and EUR 5.4 million in guarantee products. In the aircraft asset class EUR 1.4 million was placed in investments in HCI Aircraft One and in the Aufbauplan 8 asset creation plan. About EUR 2.0 million in capital investment was generated for the HCI Deepsea Oil Explorer. In the Real Estate product area HCI Real Estate G7 achieved a placement result of EUR 0.8 million. In the Secondary Life Insurance Market product area a total of EUR 4.4 million was placed in the HSC Optivita XI fund and in asset creation plans.

Q1 result marked by placement decline – Cost reduction programme takes effect
Due to the weak course of placement, the HCI Group has a negative net result for the period of EUR -2.5 million to report for the first quarter of 2009. With a reduction of around 19% in material costs the cost reduction programme initiated at the beginning of the year has made an impact and is within the corridor of around EUR 7 million in planned cost reductions for the full year. The HCI Group’s equity ratio as at 31 March 2009 was 50.8%. The Group also earned a positive first-quarter cash flow and held at the end of the quarter cash and equivalents of EUR 31.2 million EUR, 1.9 million slightly higher than at 31 December 2008. Contingent liabilities were largely unchanged in the first quarter.

HCI makes use of advantages despite difficult market environment

“Against the background of greater investor mistrust of virtual investments and in view of the threat of inflation, the market environment could well present us with opportunities. Our funds invest in real and tangible assets that retain a stable value especially in times of rising inflation. That is why I believe that during the year we will have the chance to convince investors with innovative tangible asset concepts and generate significant placement momentum,” said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG. In the second quarter of 2009 the HCI Group has already started marketing a capital-guaranteed version of the Deepsea Oil Explorer and the Group’s first solar power fund, HCI Energy 1 Solar. For the second half of the year HCI is also planning to intensify product development around established business segments and, in particular, to launch a ship fund focusing on opportunity-driven investments that will make use of the advantages offered by the current market situation.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee, in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 120,500 clients have invested approximately EUR 5.8 billion in 497 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 March 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
 

Dr. Olaf Streuer
HCI Capital AG
Leiter Unternehmenskommunikation
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Presse- und Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de
 

12.05.2009

HCI Capital AG shows continuous placement activity

• Placement result of EUR 30.1 million in first quarter
• Difficult market environment leads to investor restraint
• HCI reduces material costs by 19% as planned

Hamburg, 12 May 2009 – HCI Capital AG, one of Germany’s leading independent issuing houses for closed-end funds, reports sales down markedly in the first three months of 2009. Due to general restraint on the part of investors, the amount of equity placed fell to EUR 30.1 million. With its extensive sales network and diversified product range, the HCI Group was however able to place funds in all product classes offered. 

The ongoing worldwide financial and economic crisis continued to shape investor behaviour in the first quarter of 2009. The unchanged market trend in closed-end funds is still characterised by considerable restraint on the part of investors. Against this background the amount of capital the HCI Group placed in the first quarter of the 2009 business year was down sharply on the year to a total of around EUR 30.1 million.

The HCI Group nevertheless continued to place products from all segments with investors. With a total EUR 21.5 million of capital placed, investments in ships remain the strongest asset class in the HCI portfolio, consisting of EUR 10.4 million in classic closed-end ship funds, EUR 5.7 million in the form of asset creation plans and EUR 5.4 million in guarantee products. In the aircraft asset class EUR 1.4 million was placed in investments in HCI Aircraft One and in the Aufbauplan 8 asset creation plan. About EUR 2.0 million in capital investment was generated for the HCI Deepsea Oil Explorer. In the Real Estate product area HCI Real Estate G7 achieved a placement result of EUR 0.8 million. In the Secondary Life Insurance Market product area a total of EUR 4.4 million was placed in the HSC Optivita XI fund and in asset creation plans.

Q1 result marked by placement decline – Cost reduction programme takes effect
Due to the weak course of placement, the HCI Group has a negative net result for the period of EUR -2.5 million to report for the first quarter of 2009. With a reduction of around 19% in material costs the cost reduction programme initiated at the beginning of the year has made an impact and is within the corridor of around EUR 7 million in planned cost reductions for the full year. The HCI Group’s equity ratio as at 31 March 2009 was 50.8%. The Group also earned a positive first-quarter cash flow and held at the end of the quarter cash and equivalents of EUR 31.2 million EUR, 1.9 million slightly higher than at 31 December 2008. Contingent liabilities were largely unchanged in the first quarter.

HCI makes use of advantages despite difficult market environment

“Against the background of greater investor mistrust of virtual investments and in view of the threat of inflation, the market environment could well present us with opportunities. Our funds invest in real and tangible assets that retain a stable value especially in times of rising inflation. That is why I believe that during the year we will have the chance to convince investors with innovative tangible asset concepts and generate significant placement momentum,” said Dr. Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG. In the second quarter of 2009 the HCI Group has already started marketing a capital-guaranteed version of the Deepsea Oil Explorer and the Group’s first solar power fund, HCI Energy 1 Solar. For the second half of the year HCI is also planning to intensify product development around established business segments and, in particular, to launch a ship fund focusing on opportunity-driven investments that will make use of the advantages offered by the current market situation.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee, in the areas of Transport and Logistics, Energy and Commodities, Real Estate and Secondary Life Insurance. More than 120,500 clients have invested approximately EUR 5.8 billion in 497 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 March 2009), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:
 

Dr. Olaf Streuer
HCI Capital AG
Leiter Unternehmenskommunikation
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Presse- und Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
christina.hoke@hci-capital.de
 

09.03.2009

HCI Capital AG achieves market leadership in 2008

• No. 1 in placements of closed-end funds in 2008
  
• Positive results posted in HCI's operative business
  
• Non-recurring effects dominate consolidated results for 2008
  
• Adjustments to reflect the changed market environment
  
• Cost reductions in excess of EUR 7 million planned for 2009

Results for FY 2008 dominated by non-recurring effects

Despite being profitable in its operative business, HCI Group posted a consolidated net loss of EUR 16.8 million for 2008. This was due to non-recurring effects which were essentially attributable to write-downs on equity investments.

To adequately position itself for the challenges ahead in an extremely difficult market environment, HCI Group has realigned its corporate structure - particularly regarding its financial, asset, and fund management functions - and plans cost savings of more than EUR 7 million for 2009.

Strong placement results achieved in a challenging market environment

During the 2008 financial year the HCI Group placed EUR 598.6 million of capital with private investors, becoming the market leader in its industry. Even though this represents a decline of 8.7 per cent, compared with EUR 655.5 million of retail placements during the previous year, this must be seen in the context of the crisis affecting financial markets and the economy: in a very weak overall market (which, according to market data by VGF, the German Association of Closed-end Funds, declined by 25.3 per cent year-on-year), HCI Group gained market share, positioning itself at the top of the industry. HCI expanded its customer base from 101,900 to 119,400 (up 17.2 per cent year-on-year), with the number of active sales partners up 8.4 percent, to 1,726. "Thanks to our strong sales network, and our broadly-diversified product range, we further strengthened our position as an industry leader, taking the top spot during challenging times", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

Solid operating profit - consolidated net income burdened by non-recurring effects

HCI Group's consolidated results for the 2008 financial year were influenced by various factors. Despite the more difficult market conditions, the Group posted solid results in its operating business: revenues of EUR 120.0 million were lower than the EUR 137.3 million generated during the previous year, reflecting the overall decline in placements. The consolidated net loss of EUR 16.8 million (2007: profit of EUR 30.6 million) was essentially due to non-recurring effects, in particular the full write-down of HCI's equity investment in NY Credit Operating Partnership LP. Dr Friedrichs explained: "Writing off our investment in NY Credit Operating Partnership LP was a painful step to take, but a necessary one - having taken the full charge, potential burdens on future results have now been reduced." Adjusted for non-recurring effects, profit before taxes was approx. EUR 20 million. This figure denotes the full operative strength demonstrated by HCI Group during the 2008 financial year.

Major challenges ahead in 2009: structural changes and cost reductions

Economic trends and financial markets developments in the year 2009 are subject to great uncertainty. The continued economic weakness which is on the cards for this year holds major challenges for HCI Group, and for the closed-end fund sector as a whole. Against this backdrop, HCI Group took various initiatives designed to strengthen its asset and fund management operations, and to secure medium to long-term funding for the Group and its product pipeline. Specific steps taken include a realignment of the product conception process, and the establishment of a centralised Finance unit. Furthermore, strict budgeting discipline has been imposed for 2009, involving reductions in costs which will lead to savings in excess of EUR 7 million per annum.
In parallel, HCI significantly strengthened its sales activities, to build long-term trust in closed-end fund investments in view of widespread uncertainty amongst sales partners and investors. As many as 140 regional sales presentations were held during January and February 2009, addressing more than 3,000 sales partners. In addition, HCI will expand the training offers of its in-house HCI Academy; during 2008 more than 1,200 sales partners benefited from this training programme, which is unique in the industry.
"In today's market environment, the role of issuing houses is clearer than ever - going beyond the function of intermediary and trustee for closed-end funds, to assume the role of an active asset manager for investments in business", said Dr Friedrichs, adding that "nowadays, a professional approach to managing assets and finance is just as crucial as a solid network and experience in the relevant markets. At HCI, we have embarked upon the key measures to keep the company on course in troubled waters."

About HCI:

Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee, in the areas of Transport & Logistics, Energy & Commodities, Real Estate, and Secondary Life Insurance. More than 119,000 clients have invested approx. EUR 5.8 billion in 494 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 Dec 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:

Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Phone: +49 40 88 88 1 236
christina.hoke@hci-capital.de

09.03.2009

HCI Capital AG achieves market leadership in 2008

• No. 1 in placements of closed-end funds in 2008
  
• Positive results posted in HCI's operative business
  
• Non-recurring effects dominate consolidated results for 2008
  
• Adjustments to reflect the changed market environment
  
• Cost reductions in excess of EUR 7 million planned for 2009

Results for FY 2008 dominated by non-recurring effects

Despite being profitable in its operative business, HCI Group posted a consolidated net loss of EUR 16.8 million for 2008. This was due to non-recurring effects which were essentially attributable to write-downs on equity investments.

To adequately position itself for the challenges ahead in an extremely difficult market environment, HCI Group has realigned its corporate structure - particularly regarding its financial, asset, and fund management functions - and plans cost savings of more than EUR 7 million for 2009.

Strong placement results achieved in a challenging market environment

During the 2008 financial year the HCI Group placed EUR 598.6 million of capital with private investors, becoming the market leader in its industry. Even though this represents a decline of 8.7 per cent, compared with EUR 655.5 million of retail placements during the previous year, this must be seen in the context of the crisis affecting financial markets and the economy: in a very weak overall market (which, according to market data by VGF, the German Association of Closed-end Funds, declined by 25.3 per cent year-on-year), HCI Group gained market share, positioning itself at the top of the industry. HCI expanded its customer base from 101,900 to 119,400 (up 17.2 per cent year-on-year), with the number of active sales partners up 8.4 percent, to 1,726. "Thanks to our strong sales network, and our broadly-diversified product range, we further strengthened our position as an industry leader, taking the top spot during challenging times", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

Solid operating profit - consolidated net income burdened by non-recurring effects

HCI Group's consolidated results for the 2008 financial year were influenced by various factors. Despite the more difficult market conditions, the Group posted solid results in its operating business: revenues of EUR 120.0 million were lower than the EUR 137.3 million generated during the previous year, reflecting the overall decline in placements. The consolidated net loss of EUR 16.8 million (2007: profit of EUR 30.6 million) was essentially due to non-recurring effects, in particular the full write-down of HCI's equity investment in NY Credit Operating Partnership LP. Dr Friedrichs explained: "Writing off our investment in NY Credit Operating Partnership LP was a painful step to take, but a necessary one - having taken the full charge, potential burdens on future results have now been reduced." Adjusted for non-recurring effects, profit before taxes was approx. EUR 20 million. This figure denotes the full operative strength demonstrated by HCI Group during the 2008 financial year.

Major challenges ahead in 2009: structural changes and cost reductions

Economic trends and financial markets developments in the year 2009 are subject to great uncertainty. The continued economic weakness which is on the cards for this year holds major challenges for HCI Group, and for the closed-end fund sector as a whole. Against this backdrop, HCI Group took various initiatives designed to strengthen its asset and fund management operations, and to secure medium to long-term funding for the Group and its product pipeline. Specific steps taken include a realignment of the product conception process, and the establishment of a centralised Finance unit. Furthermore, strict budgeting discipline has been imposed for 2009, involving reductions in costs which will lead to savings in excess of EUR 7 million per annum.
In parallel, HCI significantly strengthened its sales activities, to build long-term trust in closed-end fund investments in view of widespread uncertainty amongst sales partners and investors. As many as 140 regional sales presentations were held during January and February 2009, addressing more than 3,000 sales partners. In addition, HCI will expand the training offers of its in-house HCI Academy; during 2008 more than 1,200 sales partners benefited from this training programme, which is unique in the industry.
"In today's market environment, the role of issuing houses is clearer than ever - going beyond the function of intermediary and trustee for closed-end funds, to assume the role of an active asset manager for investments in business", said Dr Friedrichs, adding that "nowadays, a professional approach to managing assets and finance is just as crucial as a solid network and experience in the relevant markets. At HCI, we have embarked upon the key measures to keep the company on course in troubled waters."

About HCI:

Established in 1985, the HCI Group creates closed-end funds and investments with a capital guarantee, in the areas of Transport & Logistics, Energy & Commodities, Real Estate, and Secondary Life Insurance. More than 119,000 clients have invested approx. EUR 5.8 billion in 494 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 Dec 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Contacts:

Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

Christina Hoke
HCI Capital AG
Press and Public Relations
Phone: +49 40 88 88 1 236
christina.hoke@hci-capital.de

27.01.2009

HCI Capital AG records around EUR 600 million in equity placements during 2008

• HCI wins market share
  
• HCI expands its market position amongst leading providers of closed-end funds
  
• Continuous placement activity in a challenging market environment
  
• 8.7% decline in placements clearly less pronounced than sector average

Strong distribution network ensures steady placement activity

Having recorded a record level of placements during the first nine months of the financial year (EUR 508 million), HCI Group noticed a significant slowdown from early October onwards, reflecting the deterioration of the crisis affecting the banking sector. Turbulence on financial markets has unsettled investors, producing a general reluctance to invest in any kind of investment product. Despite this challenging framework, HCI Group was successful in ensuring steady placement activity during the final quarter of 2008 as well - through close dialogue with its distribution partners, and through the creation of products tailored to investor needs and preferences. In this way, HCI Group placed aggregate equity capital amounting to EUR 91 million during the fourth quarter of 2008. The Group’s cooperation with its distribution partners in developing exclusive shipping products contributed significantly to this result: through traditional closed-end funds, asset creation plans and guarantee products, the ship product sector alone generated around EUR 71 million in placements during the last three months of the 2008 financial year.

Broad product range, covering new asset classes

Overall, total placements achieved in 2008 indicate a broad range of products placed, which largely compensated for more pronounced fluctuations in individual product sectors. For instance, retail placements in ship products showed a 26.1% decline, from EUR 448.4 million in 2007 to EUR 331.5 million. Essentially, this reduction reflected the fact that a major portion of the ship fund products had originally been scheduled for the fourth quarter. On the other hand, HCI Group was particularly successful in retail placements in the real estate product sector, with its HCI Real Estate BRIC+ Fund. The real estate product sector posted a 22.6% increase - against the market trend - with retail placements up from EUR 96.0 million in the previous year, to EUR 117.8 million in 2008.

The secondary life insurance market product sector also showed a positive development overall. Lower placement volumes of EUR 86.8 million during 2008 (compared to EUR 96.1 million the previous year) were solely attributable to EUR 16.3 million in placements achieved in 2007 in a secondary life insurance market certificate, for which no follow-up product could be launched in 2008, due to market conditions. Placements in traditional closed-end funds and asset creation plans in the secondary life insurance market product sector were up 3.2% year-on year, to EUR 82.4 million. In contrast, placements in private equity products declined further - as expected - remaining at a low volume of EUR 4.7 million (2007: EUR 14.9 million).

New asset classes, which HCI Group tapped via its HCI Deepsea Oil Explorer and HCI Aircraft One fund products, contributed around EUR 58 million in placements, equivalent to just under 10% of overall placements during 2008. Furthermore, guarantee products across asset classes (Shipping Protect, Multi Asset Protect) and two freight rate certificates generated an aggregate EUR 64 million in placements. An additional EUR 49 million - up by more than 60% year-on-year - was placed in asset creation plans: these permit investors to build a broadly-diversified exposure to closed-end funds, even with smaller monthly payments.

Innovative product developments, such as asset creation plans and guarantee products, have created a truly unique selling proposition that sets HCI apart from other providers of closed-end funds. This ensures the Group reaches a broader investor base via a diverse range of distribution channels.

Demand from institutional investors faltered against the background of collapsing capital markets in 2008. In the 2007 financial year, HCI Group had recorded placements with institutional investors of EUR 150 million with HCI HAMMONIA SHIPPING AG, plus EUR 5.1 million in real estate products: there was no institutional business during 2008.

Tangible investments to remain attractive in a difficult market environment

Given the ongoing crisis affecting financial markets and the real economy, 2009 will remain very challenging indeed for the closed-end fund sector. Yet the placements achieved by HCI Group in 2008 demonstrated the Group's ability to achieve respectable placement results even in a difficult market environment, thanks to an extensive distribution network and a product range tailored to diverse investor needs and preferences.

"We structure long-term investments in tangible assets, which extend way beyond single market cycles", said Dr Friedrichs, adding: "I am convinced that investors will once again focus on such investments, which are transparent and reconcilable for customers."

HCI Capital AG will publish its 2008 annual report on 9 March 2009.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. More than 119,000 clients have invested EUR 5.8 billion in 494 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 Dec 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Press contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact

Dr Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

27.01.2009

HCI Capital AG records around EUR 600 million in equity placements during 2008

• HCI wins market share
  
• HCI expands its market position amongst leading providers of closed-end funds
  
• Continuous placement activity in a challenging market environment
  
• 8.7% decline in placements clearly less pronounced than sector average

Strong distribution network ensures steady placement activity

Having recorded a record level of placements during the first nine months of the financial year (EUR 508 million), HCI Group noticed a significant slowdown from early October onwards, reflecting the deterioration of the crisis affecting the banking sector. Turbulence on financial markets has unsettled investors, producing a general reluctance to invest in any kind of investment product. Despite this challenging framework, HCI Group was successful in ensuring steady placement activity during the final quarter of 2008 as well - through close dialogue with its distribution partners, and through the creation of products tailored to investor needs and preferences. In this way, HCI Group placed aggregate equity capital amounting to EUR 91 million during the fourth quarter of 2008. The Group’s cooperation with its distribution partners in developing exclusive shipping products contributed significantly to this result: through traditional closed-end funds, asset creation plans and guarantee products, the ship product sector alone generated around EUR 71 million in placements during the last three months of the 2008 financial year.

Broad product range, covering new asset classes

Overall, total placements achieved in 2008 indicate a broad range of products placed, which largely compensated for more pronounced fluctuations in individual product sectors. For instance, retail placements in ship products showed a 26.1% decline, from EUR 448.4 million in 2007 to EUR 331.5 million. Essentially, this reduction reflected the fact that a major portion of the ship fund products had originally been scheduled for the fourth quarter. On the other hand, HCI Group was particularly successful in retail placements in the real estate product sector, with its HCI Real Estate BRIC+ Fund. The real estate product sector posted a 22.6% increase - against the market trend - with retail placements up from EUR 96.0 million in the previous year, to EUR 117.8 million in 2008.

The secondary life insurance market product sector also showed a positive development overall. Lower placement volumes of EUR 86.8 million during 2008 (compared to EUR 96.1 million the previous year) were solely attributable to EUR 16.3 million in placements achieved in 2007 in a secondary life insurance market certificate, for which no follow-up product could be launched in 2008, due to market conditions. Placements in traditional closed-end funds and asset creation plans in the secondary life insurance market product sector were up 3.2% year-on year, to EUR 82.4 million. In contrast, placements in private equity products declined further - as expected - remaining at a low volume of EUR 4.7 million (2007: EUR 14.9 million).

New asset classes, which HCI Group tapped via its HCI Deepsea Oil Explorer and HCI Aircraft One fund products, contributed around EUR 58 million in placements, equivalent to just under 10% of overall placements during 2008. Furthermore, guarantee products across asset classes (Shipping Protect, Multi Asset Protect) and two freight rate certificates generated an aggregate EUR 64 million in placements. An additional EUR 49 million - up by more than 60% year-on-year - was placed in asset creation plans: these permit investors to build a broadly-diversified exposure to closed-end funds, even with smaller monthly payments.

Innovative product developments, such as asset creation plans and guarantee products, have created a truly unique selling proposition that sets HCI apart from other providers of closed-end funds. This ensures the Group reaches a broader investor base via a diverse range of distribution channels.

Demand from institutional investors faltered against the background of collapsing capital markets in 2008. In the 2007 financial year, HCI Group had recorded placements with institutional investors of EUR 150 million with HCI HAMMONIA SHIPPING AG, plus EUR 5.1 million in real estate products: there was no institutional business during 2008.

Tangible investments to remain attractive in a difficult market environment

Given the ongoing crisis affecting financial markets and the real economy, 2009 will remain very challenging indeed for the closed-end fund sector. Yet the placements achieved by HCI Group in 2008 demonstrated the Group's ability to achieve respectable placement results even in a difficult market environment, thanks to an extensive distribution network and a product range tailored to diverse investor needs and preferences.

"We structure long-term investments in tangible assets, which extend way beyond single market cycles", said Dr Friedrichs, adding: "I am convinced that investors will once again focus on such investments, which are transparent and reconcilable for customers."

HCI Capital AG will publish its 2008 annual report on 9 March 2009.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. More than 119,000 clients have invested EUR 5.8 billion in 494 issues, with an investment volume totalling more than EUR 14.6 billion (figures as at 31 Dec 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005.

Press contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact

Dr Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

12.11.2008

HCI Capital AG posts strong operating results for the third quarter of 2008

• Record placements of fund products
  
• Revenues up 34.4 per cent year-on-year in the third quarter
  
• Financial markets crisis influences 9-month result and outlook
  
• EUR 6.3 million profit after taxes for the third quarter

Record placements of fund products

Placements of fund products in the third quarter of 2008 reached EUR 167.3 million and were thus 20.9% up on the previous year's result of EUR 138.4 million. With placed equity capital of EUR 507.8 million for the period ended 30 September 2008 and an increase of 16.8% over the previous year's level of EUR 434.6 million, HCI Group successfully continued along its growth path. In spite of the challenging market environment, HCI Capital achieved the highest placement figure ever seen in any nine-month period during the Group's 20-year history, once again demonstrating the strength of its operating business, product range and sales network in the third quarter.

"The fact that we succeeded in increasing placements so clearly in a challenging market environment demonstrates the strength of our sales network, and that our fund products satisfy investor demand and preferences", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

Revenues up 34.4 per cent year-on-year in the third quarter

Strong sales of fund products during the third quarter were also reflected in results. Revenues were up by a marked 34.4 per cent, to EUR 34.9 million. Gross profit was also up strongly over the previous year, rising by 33.4 per cent to EUR 16 million. At EUR 5.9 million, third-quarter earnings before interest and taxes (EBIT) were in line with the previous year's figure. At EUR 6.3 million, consolidated net income for the period was particularly gratifying.

Financial market crisis influences 9-month result and outlook

Nine-month results were negative, at EUR -12.2 million. The figure was influenced in particular by the extraordinary one-off effects which occurred during the first half of the financial year, and in particular, by the considerable impairment of an investment in a portfolio of commercial real estate loans in the USA, originally planned as a fund product. Excluding this writedown, HCI Group would have reported a profit in excess of EUR 12.0 million.

Moreover, the serious further deterioration of the crisis affecting financial markets since the beginning of October led to uncertainty amongst investors, who have adopted a very reluctant stance vis-à-vis all types of investment. The closed-end funds sector has also been hit by this development, and what has been very dynamic placement activity by the HCI Group to date has slowed markedly in the face of investor uncertainty over recent weeks. Against this backdrop, HCI Group was forced to revise its sales planning downwards - from an initial figure of EUR 880 million of placed equity capital, to a target range of between EUR 650 and 750 million for the current year. Accordingly, the forecast full-year result after taxes, which had been projected to break even due to significant non-recurring charges, is now expected to show a loss between EUR 9 million and EUR 13 million.

The current situation facing financial markets and banks, and the impact on the real economy, poses a huge challenge for the entire sector of closed-end fund product providers. But every crisis also offers an opportunity. "I firmly believe that investors' attention will once again focus on our products, in recognition of their solid and transparent material investments following the experiences of the financial market crisis", said Dr Friedrichs. "We have the right products, a strong sales network and thus also the opportunities to gain renewed momentum as soon as market events calm down again."

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, aircraft, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 117,600 clients have invested EUR 5.69 billion in 485 issues, with an investment volume totalling more than EUR 14.25 billion (figures as at 30 Sep 2008), making HCI one of the leading issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press Contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact

Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

12.11.2008

HCI Capital AG posts strong operating results for the third quarter of 2008

• Record placements of fund products
  
• Revenues up 34.4 per cent year-on-year in the third quarter
  
• Financial markets crisis influences 9-month result and outlook
  
• EUR 6.3 million profit after taxes for the third quarter

Record placements of fund products

Placements of fund products in the third quarter of 2008 reached EUR 167.3 million and were thus 20.9% up on the previous year's result of EUR 138.4 million. With placed equity capital of EUR 507.8 million for the period ended 30 September 2008 and an increase of 16.8% over the previous year's level of EUR 434.6 million, HCI Group successfully continued along its growth path. In spite of the challenging market environment, HCI Capital achieved the highest placement figure ever seen in any nine-month period during the Group's 20-year history, once again demonstrating the strength of its operating business, product range and sales network in the third quarter.

"The fact that we succeeded in increasing placements so clearly in a challenging market environment demonstrates the strength of our sales network, and that our fund products satisfy investor demand and preferences", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG.

Revenues up 34.4 per cent year-on-year in the third quarter

Strong sales of fund products during the third quarter were also reflected in results. Revenues were up by a marked 34.4 per cent, to EUR 34.9 million. Gross profit was also up strongly over the previous year, rising by 33.4 per cent to EUR 16 million. At EUR 5.9 million, third-quarter earnings before interest and taxes (EBIT) were in line with the previous year's figure. At EUR 6.3 million, consolidated net income for the period was particularly gratifying.

Financial market crisis influences 9-month result and outlook

Nine-month results were negative, at EUR -12.2 million. The figure was influenced in particular by the extraordinary one-off effects which occurred during the first half of the financial year, and in particular, by the considerable impairment of an investment in a portfolio of commercial real estate loans in the USA, originally planned as a fund product. Excluding this writedown, HCI Group would have reported a profit in excess of EUR 12.0 million.

Moreover, the serious further deterioration of the crisis affecting financial markets since the beginning of October led to uncertainty amongst investors, who have adopted a very reluctant stance vis-à-vis all types of investment. The closed-end funds sector has also been hit by this development, and what has been very dynamic placement activity by the HCI Group to date has slowed markedly in the face of investor uncertainty over recent weeks. Against this backdrop, HCI Group was forced to revise its sales planning downwards - from an initial figure of EUR 880 million of placed equity capital, to a target range of between EUR 650 and 750 million for the current year. Accordingly, the forecast full-year result after taxes, which had been projected to break even due to significant non-recurring charges, is now expected to show a loss between EUR 9 million and EUR 13 million.

The current situation facing financial markets and banks, and the impact on the real economy, poses a huge challenge for the entire sector of closed-end fund product providers. But every crisis also offers an opportunity. "I firmly believe that investors' attention will once again focus on our products, in recognition of their solid and transparent material investments following the experiences of the financial market crisis", said Dr Friedrichs. "We have the right products, a strong sales network and thus also the opportunities to gain renewed momentum as soon as market events calm down again."

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, aircraft, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 117,600 clients have invested EUR 5.69 billion in 485 issues, with an investment volume totalling more than EUR 14.25 billion (figures as at 30 Sep 2008), making HCI one of the leading issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press Contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact

Dr. Olaf Streuer
HCI Capital AG
Head of Corporate Communications
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

10.10.2008

HCI Capital AG adjusts forecast for 2008 placements and earnings

• Placements up strongly, by 16.8% as at 30 Sep 2008
  
• Record EUR 508 million placement volumes achieved during the first nine months of the financial year
  
• Current deterioration of the financial markets slows down dynamic placement momentum
  
• Investors reluctant to enter into new investments

Record placements of EUR 508 million during the first nine months: up 16.8% year-on-year

HCI Group's operating performance during the third quarter of the 2008 financial year clearly demon-strated the strength of its product range and distribution network: With approx. EUR 508 million in aggregate equity capital placed during the first nine months - up 16.8% from the previous year's figure of EUR 434.6 million - HCI successfully maintained its growth momentum. At EUR 167 million, placements during the third quarter of 2008 were up by as much as 20% year-on-year (Q3 2008: EUR 138.4 million). In spite of the challenging market environment, HCI Group achieved the highest placement figure ever seen in any nine-month period throughout the Group's 20+-year history. This success was attributable to strong growth in the real estate product sector (which includes the HCI Real Estate BRIC+ real estate fund of funds); strong placements of guarantee products in the shipping segment (Shipping Protect); a significant increase in placements of secondary life insurance market funds involving UK life assurance policies; and not least the extension of the product range into new asset classes (HCI Deepsea Oil Explorer and HCI Aircraft One). Accordingly, the number of customers rose to around 117,000 as at 30 September 2008 - up by approx. 20% year-on-year. Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG, said that this development "demonstrates HCI Group's ability to increasingly tap new target customer groups, with innovative products and a strong distribution network."

Strong placement momentum slowed down by deteriorating financial markets crisis, as investors adopt reluctant stance

Given the dramatic worsening of the crisis affecting the banking sector since early October, with fur-ther intensified financial market volatility, investors currently facing significant uncertainty have been generally reluctant vis-à-vis any form of investment products. The market for closed-end funds could not escape this trend: as a result, HCI Group recorded a significant slowdown in placements over recent weeks. Against this background, HCI Group revised its previous sales forecast of EUR 880 million in placed equity capital, and now envisages placements to range between EUR 650 million to EUR 750 million. Accordingly, the forecast result after taxes, which had been projected to break even due to significant non-recurring charges, is now expected to show a loss between EUR 9 million and EUR 13 million. "The fallout of the crisis affecting financial markets has turned into a significant burden on HCI Group's results for the 2008 financial year", said Dr Friedrichs. "Looking ahead, however, we see good potential for our business, once the strain on financial markets eases and investors gain renewed confidence."

Investments in tangible assets may benefit from the crisis

HCI Group expects investors to increasingly focus on investments in tangible assets once the turbu-lence in the financial markets and the banking sector starts to subside - this would benefit closed-end funds in particular. "With the experience gained during the financial markets crisis, we are convinced that investors will focus on tangible assets, emphasising a high degree of transparency", said Dr Friedrichs. "Thanks to our product range, we are in an excellent position to respond to this investor preference."


Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. More than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an invest-ment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock ex-change since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de


Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

10.10.2008

HCI Capital AG adjusts forecast for 2008 placements and earnings

• Placements up strongly, by 16.8% as at 30 Sep 2008
  
• Record EUR 508 million placement volumes achieved during the first nine months of the financial year
  
• Current deterioration of the financial markets slows down dynamic placement momentum
  
• Investors reluctant to enter into new investments

Record placements of EUR 508 million during the first nine months: up 16.8% year-on-year

HCI Group's operating performance during the third quarter of the 2008 financial year clearly demon-strated the strength of its product range and distribution network: With approx. EUR 508 million in aggregate equity capital placed during the first nine months - up 16.8% from the previous year's figure of EUR 434.6 million - HCI successfully maintained its growth momentum. At EUR 167 million, placements during the third quarter of 2008 were up by as much as 20% year-on-year (Q3 2008: EUR 138.4 million). In spite of the challenging market environment, HCI Group achieved the highest placement figure ever seen in any nine-month period throughout the Group's 20+-year history. This success was attributable to strong growth in the real estate product sector (which includes the HCI Real Estate BRIC+ real estate fund of funds); strong placements of guarantee products in the shipping segment (Shipping Protect); a significant increase in placements of secondary life insurance market funds involving UK life assurance policies; and not least the extension of the product range into new asset classes (HCI Deepsea Oil Explorer and HCI Aircraft One). Accordingly, the number of customers rose to around 117,000 as at 30 September 2008 - up by approx. 20% year-on-year. Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG, said that this development "demonstrates HCI Group's ability to increasingly tap new target customer groups, with innovative products and a strong distribution network."

Strong placement momentum slowed down by deteriorating financial markets crisis, as investors adopt reluctant stance

Given the dramatic worsening of the crisis affecting the banking sector since early October, with fur-ther intensified financial market volatility, investors currently facing significant uncertainty have been generally reluctant vis-à-vis any form of investment products. The market for closed-end funds could not escape this trend: as a result, HCI Group recorded a significant slowdown in placements over recent weeks. Against this background, HCI Group revised its previous sales forecast of EUR 880 million in placed equity capital, and now envisages placements to range between EUR 650 million to EUR 750 million. Accordingly, the forecast result after taxes, which had been projected to break even due to significant non-recurring charges, is now expected to show a loss between EUR 9 million and EUR 13 million. "The fallout of the crisis affecting financial markets has turned into a significant burden on HCI Group's results for the 2008 financial year", said Dr Friedrichs. "Looking ahead, however, we see good potential for our business, once the strain on financial markets eases and investors gain renewed confidence."

Investments in tangible assets may benefit from the crisis

HCI Group expects investors to increasingly focus on investments in tangible assets once the turbu-lence in the financial markets and the banking sector starts to subside - this would benefit closed-end funds in particular. "With the experience gained during the financial markets crisis, we are convinced that investors will focus on tangible assets, emphasising a high degree of transparency", said Dr Friedrichs. "Thanks to our product range, we are in an excellent position to respond to this investor preference."


Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. More than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an invest-ment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading independent issuing houses in Germany. HCI Capital AG has been listed on the stock ex-change since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de


Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

09.09.2008

HCI Capital AG sells its stake in Aragon AG

• Strategic shareholdings streamlined
  
• HCI Capital AG's capital structure strengthened
  
• Cooperation with Aragon to be maintained

Against the background of growing regulatory and technical requirements, HCI Capital AG acquired a stake of 25% (plus one share) in Aragon AG in December 2006, to gain exposure to a suitable distribution platform. Aragon AG offers a broadly-diversified range of financial services, with its Retail Sales, Institutional Sales, and Banking & Banking Services segments. Subsequently, HCI Capital AG acquired a 25.1% stake in eFonds Group in January 2008. In addition to operating various online platforms, eFonds Group focuses on selling closed-end funds, and offers a liability umbrella to independent financial services providers. To streamline its portfolio of investments, HCI Capital AG decided to sell its stake in Aragon AG.

At the same time, selling the stake in Aragon will help consolidate HCI Capital AG's capital structure: redemption of the borrowing raised to finance the original acquisition will clearly reduce HCI Capital AG's debt exposure.

"The sale of our stake in Aragon AG is a sensible step to sharpen the focus of our strategic shareholdings, and to strengthen HCI Group's capital structure", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG, noting that HCI will continue its close cooperation with Aragon AG: "We value Aragon as a fast-growing partner for the distribution of financial products."

The agreement, which was entered into on 19 June 2008 subject to certain conditions precedent, came into effect today. The stake was sold in an off-exchange transaction. The parties have agreed not to disclose the terms of the sale. The price at which HCI Capital AG originally acquired its stake in Aragon AG was EUR 19.00 per share.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading issuing houses in Ger-many. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Leiter Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

09.09.2008

HCI Capital AG sells its stake in Aragon AG

• Strategic shareholdings streamlined
  
• HCI Capital AG's capital structure strengthened
  
• Cooperation with Aragon to be maintained

Against the background of growing regulatory and technical requirements, HCI Capital AG acquired a stake of 25% (plus one share) in Aragon AG in December 2006, to gain exposure to a suitable distribution platform. Aragon AG offers a broadly-diversified range of financial services, with its Retail Sales, Institutional Sales, and Banking & Banking Services segments. Subsequently, HCI Capital AG acquired a 25.1% stake in eFonds Group in January 2008. In addition to operating various online platforms, eFonds Group focuses on selling closed-end funds, and offers a liability umbrella to independent financial services providers. To streamline its portfolio of investments, HCI Capital AG decided to sell its stake in Aragon AG.

At the same time, selling the stake in Aragon will help consolidate HCI Capital AG's capital structure: redemption of the borrowing raised to finance the original acquisition will clearly reduce HCI Capital AG's debt exposure.

"The sale of our stake in Aragon AG is a sensible step to sharpen the focus of our strategic shareholdings, and to strengthen HCI Group's capital structure", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG, noting that HCI will continue its close cooperation with Aragon AG: "We value Aragon as a fast-growing partner for the distribution of financial products."

The agreement, which was entered into on 19 June 2008 subject to certain conditions precedent, came into effect today. The stake was sold in an off-exchange transaction. The parties have agreed not to disclose the terms of the sale. The price at which HCI Capital AG originally acquired its stake in Aragon AG was EUR 19.00 per share.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading issuing houses in Ger-many. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Leiter Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

13.08.2008

HCI Capital AG records double-digit growth in fund sales

• Placement volume up strongly: a 15% rise
  
• EUR 880 million placement target affirmed
  
• HCI could not escape the impact of the financial markets crisis
  
• Corporate structure stabilised, new senior management team completed

Placement volume up strongly, by 15%

HCI Group's operating performance during the first half of 2008 clearly demonstrated the strength of its product range and distribution network: total sales of fund products amounted to EUR 340.5 million, up EUR 44.3 million or 15 per cent year-on year. Placements of real estate funds of funds posted the highest growth rate, up 123 per cent from the EUR 35.9 million recorded in the previous year. With EUR 80.1 million placed during the first six months of 2008, this product segment is HCI's second strongest after ship investments, where placements were up 4.6 per cent, to EUR 197.8 million (H1 2007: EUR 189.2 million). Business in the secondary life assurance product segment with EUR 59.8 million in equity capital placed (-4.2 per cent), sales almost matched the previous year's figures. In this segment, placements of secondary life assurance market funds and asset creation plans developed positively: at EUR 58.7 million, this represented a 19.2 per cent increase over the previous year's figure of EUR 49.2 million. As expected, sales of private equity funds of funds were significantly lower than in 2007, totalling EUR 2.7 million during the first half of 2008. "We benefit from a very strong product pipeline, with currently 12 fund products and two certificates in the distribution phase", emphasised Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are thus on course for continued growth, affirming our placement target of EUR 880 million."

Financial markets crisis influences results

Given that the fund placement structure during the reporting period was, as planned, dominated by products with lower initial commissions and margins, revenues of EUR 61.7 million (H1 2007: EUR 63.4 million), were only slightly below the previous year's level. Obviously, HCI Group was unable to escape the impact of the crisis affecting financial markets. The Group had to take an exposure backed by investments in US commercial real estate loans onto its own books: an exposure originally designed for sale as an investment fund product. Given the continued difficulties in the US real estate market, HCI Group was forced to recognise a significant EUR 24.8 million write-down on this investment: an unexpected (and non-recurring) effect that will materially burden the Group's results of operations for 2008.

Accordingly, six-month earnings before interest and taxes (EBIT) and the result after taxes were both negative, at EUR -18.2 million (H1 2007: EUR +19.0 million) and EUR -18.5 million (EUR +24.4 million), respectively. Excluding this write-down (plus further unexpected one-off effects), both figures would have been positive, in excess of EUR 10 million each.

Due to the impact of this adjustment, the company now anticipates a breakeven result after taxes for the 2008 financial year. An earlier earnings forecast had projected net profit of EUR 33 million.

"The Management Board and Supervisory Board believe that this write-down on an investment in a loan portfolio is as necessary as it is painful", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are convinced that, on the back of our strong operating business, this step will allow HCI Group to benefit from its full profitability in the years to come."

Structure stabilised

The takeover offer made by MPC Capital AG resulted in various changes to the executive bodies of HCI Capital AG during the first half of 2008. The new shareholder structure has stabilised, comprising two major shareholders - MPC Capital AG (40.8 per cent) and the Döhle Group (20.1 per cent), with 39.1 per cent of the share capital in free float. In a related development, the size of the Supervisory Board was increased from three to six members. Three new Supervisory Board members were elected: Dr John Benjamin Schroeder, Jochen Döhle and Stefan Viering. The Supervisory Board elected Dr Schroeder as its chair on 9 June 2008. There were also changes to the composition of the Management Board. With Dr Ralf Friedrichs as the new CEO, Dr Oliver Moosmayer as member of the Management Board responsible for product development, and Dr Andreas Pres appointed as the new CFO, the Management Board has once again reached its full complement, with a management team that is in an excellent position to lead HCI into the future.

Following these fundamental changes to the shareholder group, Supervisory Board and Management Board of HCI Capital AG, the company is now in a good position going forwards, with a stable structure. This stability is a key aspect in ensuring that the HCI Group can develop further as an independent company and as a strong brand. "It is our belief that the HCI Group, with its product quality, innovative character and sales strength, is excellently positioned to further consolidate its position among the leading providers of closed-end investment models in Germany", said Dr Friedrichs.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Ansprechpartner:

Presse:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236

Investor Relations:
Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88 88 1 125

13.08.2008

HCI Capital AG records double-digit growth in fund sales

• Placement volume up strongly: a 15% rise
  
• EUR 880 million placement target affirmed
  
• HCI could not escape the impact of the financial markets crisis
  
• Corporate structure stabilised, new senior management team completed

Placement volume up strongly, by 15%

HCI Group's operating performance during the first half of 2008 clearly demonstrated the strength of its product range and distribution network: total sales of fund products amounted to EUR 340.5 million, up EUR 44.3 million or 15 per cent year-on year. Placements of real estate funds of funds posted the highest growth rate, up 123 per cent from the EUR 35.9 million recorded in the previous year. With EUR 80.1 million placed during the first six months of 2008, this product segment is HCI's second strongest after ship investments, where placements were up 4.6 per cent, to EUR 197.8 million (H1 2007: EUR 189.2 million). Business in the secondary life assurance product segment with EUR 59.8 million in equity capital placed (-4.2 per cent), sales almost matched the previous year's figures. In this segment, placements of secondary life assurance market funds and asset creation plans developed positively: at EUR 58.7 million, this represented a 19.2 per cent increase over the previous year's figure of EUR 49.2 million. As expected, sales of private equity funds of funds were significantly lower than in 2007, totalling EUR 2.7 million during the first half of 2008. "We benefit from a very strong product pipeline, with currently 12 fund products and two certificates in the distribution phase", emphasised Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are thus on course for continued growth, affirming our placement target of EUR 880 million."

Financial markets crisis influences results

Given that the fund placement structure during the reporting period was, as planned, dominated by products with lower initial commissions and margins, revenues of EUR 61.7 million (H1 2007: EUR 63.4 million), were only slightly below the previous year's level. Obviously, HCI Group was unable to escape the impact of the crisis affecting financial markets. The Group had to take an exposure backed by investments in US commercial real estate loans onto its own books: an exposure originally designed for sale as an investment fund product. Given the continued difficulties in the US real estate market, HCI Group was forced to recognise a significant EUR 24.8 million write-down on this investment: an unexpected (and non-recurring) effect that will materially burden the Group's results of operations for 2008.

Accordingly, six-month earnings before interest and taxes (EBIT) and the result after taxes were both negative, at EUR -18.2 million (H1 2007: EUR +19.0 million) and EUR -18.5 million (EUR +24.4 million), respectively. Excluding this write-down (plus further unexpected one-off effects), both figures would have been positive, in excess of EUR 10 million each.

Due to the impact of this adjustment, the company now anticipates a breakeven result after taxes for the 2008 financial year. An earlier earnings forecast had projected net profit of EUR 33 million.

"The Management Board and Supervisory Board believe that this write-down on an investment in a loan portfolio is as necessary as it is painful", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are convinced that, on the back of our strong operating business, this step will allow HCI Group to benefit from its full profitability in the years to come."

Structure stabilised

The takeover offer made by MPC Capital AG resulted in various changes to the executive bodies of HCI Capital AG during the first half of 2008. The new shareholder structure has stabilised, comprising two major shareholders - MPC Capital AG (40.8 per cent) and the Döhle Group (20.1 per cent), with 39.1 per cent of the share capital in free float. In a related development, the size of the Supervisory Board was increased from three to six members. Three new Supervisory Board members were elected: Dr John Benjamin Schroeder, Jochen Döhle and Stefan Viering. The Supervisory Board elected Dr Schroeder as its chair on 9 June 2008. There were also changes to the composition of the Management Board. With Dr Ralf Friedrichs as the new CEO, Dr Oliver Moosmayer as member of the Management Board responsible for product development, and Dr Andreas Pres appointed as the new CFO, the Management Board has once again reached its full complement, with a management team that is in an excellent position to lead HCI into the future.

Following these fundamental changes to the shareholder group, Supervisory Board and Management Board of HCI Capital AG, the company is now in a good position going forwards, with a stable structure. This stability is a key aspect in ensuring that the HCI Group can develop further as an independent company and as a strong brand. "It is our belief that the HCI Group, with its product quality, innovative character and sales strength, is excellently positioned to further consolidate its position among the leading providers of closed-end investment models in Germany", said Dr Friedrichs.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity funds of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Ansprechpartner:

Presse:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236

Investor Relations:
Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88 88 1 125

08.08.2008

HCI Capital AG adjusts 2008 earnings forecast

• EUR 24.8 million write-downs on investment in US commercial real estate loans
  
• Breakeven result expected for the full year
  
• EUR 880 million target placements affirmed

The adjustment to the earnings forecast was required largely due to significant write-downs on the investment held by HCI Real Estate Finance I GmbH & Co. KG in NY Credit Operating Partnership L.P, an entity holding a portfolio of US commercial real estate loans. Originally conceived as an investment fund concept, HCI Real Estate Finance I was accounted for in HCI Group's 2007 consolidated financial statements for the first time, using the equity method, following the decision not to commence distribution of the fund in the wake of the crisis affecting financial markets. Unanticipated losses incurred by NY Credit Operating Partnership LP during the second quarter of 2008 triggered an impairment test (in accordance with IAS 39), as a result of which the investment was written down by EUR 24.8 million. As a result of this significant adjustment, which has been accounted for in full in HCI Capital AG's consolidated six-month financial statements as at 30 June 2008, the company envisages a half-year loss expected to amount to approx. EUR 18.5 million after taxes.

"The Management Board and Supervisory Board believe that this write-down on an investment in a loan portfolio is as necessary as it is painful", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are convinced that, on the back of our strong operating business, this step will allow HCI Group to benefit from its full profitability in the years to come."

With EUR 340.5 million in aggregate equity capital placed during the first six months of 2008, the HCI Group clearly demonstrated the placement power in its operating business. Thanks to this 15% increase over the same period of the previous year (H1 2007: EUR 296.2 million), HCI Group markedly outperformed the general market trend. Thanks to the positive development in its operating businesses, HCI Capital AG has affirmed its equity capital placement target of EUR 880 million, and expects consolidated net income after taxes to break even for the financial year 2008 as a whole.

HCI Capital will publish its half-yearly financial report 2008 on 13 August 2008, as scheduled.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Contacts:

Press Relations:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations:
Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

08.08.2008

HCI Capital AG adjusts 2008 earnings forecast

• EUR 24.8 million write-downs on investment in US commercial real estate loans
  
• Breakeven result expected for the full year
  
• EUR 880 million target placements affirmed

The adjustment to the earnings forecast was required largely due to significant write-downs on the investment held by HCI Real Estate Finance I GmbH & Co. KG in NY Credit Operating Partnership L.P, an entity holding a portfolio of US commercial real estate loans. Originally conceived as an investment fund concept, HCI Real Estate Finance I was accounted for in HCI Group's 2007 consolidated financial statements for the first time, using the equity method, following the decision not to commence distribution of the fund in the wake of the crisis affecting financial markets. Unanticipated losses incurred by NY Credit Operating Partnership LP during the second quarter of 2008 triggered an impairment test (in accordance with IAS 39), as a result of which the investment was written down by EUR 24.8 million. As a result of this significant adjustment, which has been accounted for in full in HCI Capital AG's consolidated six-month financial statements as at 30 June 2008, the company envisages a half-year loss expected to amount to approx. EUR 18.5 million after taxes.

"The Management Board and Supervisory Board believe that this write-down on an investment in a loan portfolio is as necessary as it is painful", said Dr Ralf Friedrichs, Chairman of the Management Board of HCI Capital AG: "We are convinced that, on the back of our strong operating business, this step will allow HCI Group to benefit from its full profitability in the years to come."

With EUR 340.5 million in aggregate equity capital placed during the first six months of 2008, the HCI Group clearly demonstrated the placement power in its operating business. Thanks to this 15% increase over the same period of the previous year (H1 2007: EUR 296.2 million), HCI Group markedly outperformed the general market trend. Thanks to the positive development in its operating businesses, HCI Capital AG has affirmed its equity capital placement target of EUR 880 million, and expects consolidated net income after taxes to break even for the financial year 2008 as a whole.

HCI Capital will publish its half-yearly financial report 2008 on 13 August 2008, as scheduled.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Contacts:

Press Relations:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations:
Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

25.07.2008

HCI Capital AG fills vacancy on its Management Board

Dr. Andreas Pres appointed as new CFO

43-year old Dr. Andreas Pres will take up his post on 13 August 2008. A fully-qualified lawyer, with a BA in business management, he joins HCI from Munich-based EM. Sport Media AG, where he also held the position of Chief Financial Officer. Prior to his six-year term with EM. Sport Media, Dr. Pres had been a member of the Management Board of Odeon Film AG, having previously worked as a consultant at Boston Consulting Group. "We are delighted that Dr Andreas Pres has decided to contribute his vast experience as a CFO to HCI Capital AG", said Dr. John Benjamin Schroeder, Chairman of the Supervisory Board of HCI Capital AG.

With the appointment of a new CFO by the Supervisory Board, the HCI Group has a strong and stable management team, and is well-positioned to develop the Company's business going forward.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

25.07.2008

HCI Capital AG fills vacancy on its Management Board

Dr. Andreas Pres appointed as new CFO

43-year old Dr. Andreas Pres will take up his post on 13 August 2008. A fully-qualified lawyer, with a BA in business management, he joins HCI from Munich-based EM. Sport Media AG, where he also held the position of Chief Financial Officer. Prior to his six-year term with EM. Sport Media, Dr. Pres had been a member of the Management Board of Odeon Film AG, having previously worked as a consultant at Boston Consulting Group. "We are delighted that Dr Andreas Pres has decided to contribute his vast experience as a CFO to HCI Capital AG", said Dr. John Benjamin Schroeder, Chairman of the Supervisory Board of HCI Capital AG.

With the appointment of a new CFO by the Supervisory Board, the HCI Group has a strong and stable management team, and is well-positioned to develop the Company's business going forward.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 112,000 clients have invested EUR 5.5 billion in 478 issues, with an investment volume totalling more than EUR 13.97 billion (figures as at 30 Jun 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005, and has been included in the SDAX index since 19 December 2005.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

30.06.2008

Changes to HCI Capital AG’s Management Board

Dr Rolando Gennari to leave HCI by mutual consent

48-year old Dr Gennari joined HCI Holding GmbH as a Managing Director in December 2004. In 2005 he was appointed to the Management Board of HCI Capital AG. In his capacity as Chief Financial Officer, he was responsible for executing the flotation of HCI Capital AG; in particular, his areas of responsibility included Accounting and Finance, Planning and Controlling, Risk Management, and Investor Relations. The subsequent change in the shareholder structure and increase in MPC Capital’s stake in HCI Capital have altered key parameters. Dr Gennari is renouncing his duties with the company by amicable consent.

The Supervisory Board would like to thank Dr Gennari for his commitment. His departure was met with regret. "Dr Gennari played a key role in the flotation of HCI Capital AG, having consistently geared the Company's financial and accounting processes to meet the requirements under international accounting standards. His singular focus set the course for HCI's clearly-defined and transparent position on the capital market. The Supervisory Board of HCI Capital AG would like to thank Dr Gennari for the constructive and trusting cooperation experienced under his tenure", stated Dr John Benjamin Schroeder, Chairman of the Supervisory Board of HCI Capital AG. He added: "We would like to identify a successor to Dr Gennari as quickly as possible; detailed negotiations are already under way." Dr Ralf Friedrichs, Chairman of the Management Board, will also assume the duties of Chief Financial Officer during the interim period until a successor has been appointed. Being a tax advisor, and having gathered many years of experience in various auditing and tax advisory firms, Dr Friedrichs is a seasoned expert who holds the skills required to deal with HCI Capital AG's finances.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

30.06.2008

Changes to HCI Capital AG’s Management Board

Dr Rolando Gennari to leave HCI by mutual consent

48-year old Dr Gennari joined HCI Holding GmbH as a Managing Director in December 2004. In 2005 he was appointed to the Management Board of HCI Capital AG. In his capacity as Chief Financial Officer, he was responsible for executing the flotation of HCI Capital AG; in particular, his areas of responsibility included Accounting and Finance, Planning and Controlling, Risk Management, and Investor Relations. The subsequent change in the shareholder structure and increase in MPC Capital’s stake in HCI Capital have altered key parameters. Dr Gennari is renouncing his duties with the company by amicable consent.

The Supervisory Board would like to thank Dr Gennari for his commitment. His departure was met with regret. "Dr Gennari played a key role in the flotation of HCI Capital AG, having consistently geared the Company's financial and accounting processes to meet the requirements under international accounting standards. His singular focus set the course for HCI's clearly-defined and transparent position on the capital market. The Supervisory Board of HCI Capital AG would like to thank Dr Gennari for the constructive and trusting cooperation experienced under his tenure", stated Dr John Benjamin Schroeder, Chairman of the Supervisory Board of HCI Capital AG. He added: "We would like to identify a successor to Dr Gennari as quickly as possible; detailed negotiations are already under way." Dr Ralf Friedrichs, Chairman of the Management Board, will also assume the duties of Chief Financial Officer during the interim period until a successor has been appointed. Being a tax advisor, and having gathered many years of experience in various auditing and tax advisory firms, Dr Friedrichs is a seasoned expert who holds the skills required to deal with HCI Capital AG's finances.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, more than 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

13.05.2008

HCI Capital's Sales Up By Nearly 11% in Q1 2008

• Equity placement reaches EUR 153.7 million
  
• Strong performance in Structured Products and Real Estate segments drives rigorous implementation of product diversification
  
• Earnings influenced by changes in product mix and lower other operating income
  
• Goals for fiscal year 2008 confirmed based on strong placement results and full product pipeline

Because the HCI Group's revenues from Real Estate products depend more on how the investments ultimately perform than other investments offered, these products produce less income when they are initially sold, and thus the period saw lower revenues than the first quarter of last year, which was largely dominated by strong sales in Shipping.

Consolidated revenues in Q1 fell by 16.7% to EUR 26.5 million (Q1 2007: EUR 31.8 million). The HCI Group's earnings were markedly lower than in Q1 2007. This resulted not only from the decrease in revenues, but also from the decline in other operating income from EUR 4.8 million to EUR 1.0 million, because as planned, no earnings were generated in Q1 from brokering ships and real estate. Consolidated earnings before interest and taxes (EBIT) amounted to EUR 3.0 million (Q1 2007: EUR 12.2 million). Earnings after taxes were also influenced by the decline in interest income, and amounted to EUR 1.2 million, following EUR 9.9 million in the same period last year.

Strong Growth with Innovative Products

The strong Q1 placement results which were especially strong given the current environment were primarily generated with new, innovative products, particularly Structured Products and Real Estate Funds of Funds. These products are characterized by lower commissions at the beginning of the investment, but the Real Estate Funds of Funds have an earnings component over the term of the funds that depends on the performance of the investments. Since its IPO three years ago, the HCI Group has consistently pursued its strategy of steady income so as not to be dependent on economic fluctuations in the industry and the individual markets. The change in product mix is consistent with this strategy.

Sales growth in the first quarter is primarily attributable to successful placements in the Real Estate and Structured Products segments. This more than offset the lower placement results in the Secondary Life Insurance Market and Private Equity Funds of Funds.

Equity of EUR 81.3 million was placed in the Shipping segment from January through March 2008, a 4.7% increase over the prior year (EUR 77.6 million). Structured Products such as HSC Shipping Protect I and II and HSC Frachtraten Zertifikat III, which commenced at the beginning of the period, have now become well established.
Growth in the Closed-End Real Estate Fund segment was particularly robust. The placement result nearly tripled during the first three months, to reach EUR 33.1 million (Q1 2007: EUR 12.3 million), primarily due to the successful placement of HCI Real Estate BRIC+.

Equity placed in the Secondary Life Insurance Market segment, which amounted to EUR 37.7 million, was - as expected - lower than last year's Q1 figure of EUR 46.1 million, but was fully in line with our plans.
The continuing uncertainties on the financial markets resulted in an expected decrease in placed equity in the Private Equity Fund of Funds product segment, to EUR 1.6 million (Q1 2007: EUR 3.0 million).

Outlook for the Entire Year 2008

Based on our well-filled pipeline and strong ongoing placement results, the HCI Group's target of EUR 880 million in placed equity for 2008 remains unchanged (2007: EUR 811 million). The Management Board also confirms the target of improving consolidated net income for 2008 to EUR 33 million (2007: EUR 30.6 million). In this connection it is important to note that the marketing of important high-commission, high-margin products is not scheduled to begin until the third quarter (in particular, more closed-end shipping funds and for the first time, aircraft funds and the new product HCI Deepsea Oil Explorer). Given this situation, earnings are expected to improve significantly in the second half of the year.

"HCI's sales got off to a strong start in 2008," said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. "We are very satisfied with the placement result achieved in the first quarter. It shows that our strategy of expanding our earnings base by diversifying products and marketing channels is bearing fruit. The revenues and earnings for the quarter are in line with our expectations. Given the marketing of important new products that will start in the second half, the figures for the first three months definitely cannot be projected over the whole year."

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of March 31, 2008, over 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totaling EUR 13.53 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

13.05.2008

HCI Capital's Sales Up By Nearly 11% in Q1 2008

• Equity placement reaches EUR 153.7 million
  
• Strong performance in Structured Products and Real Estate segments drives rigorous implementation of product diversification
  
• Earnings influenced by changes in product mix and lower other operating income
  
• Goals for fiscal year 2008 confirmed based on strong placement results and full product pipeline

Because the HCI Group's revenues from Real Estate products depend more on how the investments ultimately perform than other investments offered, these products produce less income when they are initially sold, and thus the period saw lower revenues than the first quarter of last year, which was largely dominated by strong sales in Shipping.

Consolidated revenues in Q1 fell by 16.7% to EUR 26.5 million (Q1 2007: EUR 31.8 million). The HCI Group's earnings were markedly lower than in Q1 2007. This resulted not only from the decrease in revenues, but also from the decline in other operating income from EUR 4.8 million to EUR 1.0 million, because as planned, no earnings were generated in Q1 from brokering ships and real estate. Consolidated earnings before interest and taxes (EBIT) amounted to EUR 3.0 million (Q1 2007: EUR 12.2 million). Earnings after taxes were also influenced by the decline in interest income, and amounted to EUR 1.2 million, following EUR 9.9 million in the same period last year.

Strong Growth with Innovative Products

The strong Q1 placement results which were especially strong given the current environment were primarily generated with new, innovative products, particularly Structured Products and Real Estate Funds of Funds. These products are characterized by lower commissions at the beginning of the investment, but the Real Estate Funds of Funds have an earnings component over the term of the funds that depends on the performance of the investments. Since its IPO three years ago, the HCI Group has consistently pursued its strategy of steady income so as not to be dependent on economic fluctuations in the industry and the individual markets. The change in product mix is consistent with this strategy.

Sales growth in the first quarter is primarily attributable to successful placements in the Real Estate and Structured Products segments. This more than offset the lower placement results in the Secondary Life Insurance Market and Private Equity Funds of Funds.

Equity of EUR 81.3 million was placed in the Shipping segment from January through March 2008, a 4.7% increase over the prior year (EUR 77.6 million). Structured Products such as HSC Shipping Protect I and II and HSC Frachtraten Zertifikat III, which commenced at the beginning of the period, have now become well established.
Growth in the Closed-End Real Estate Fund segment was particularly robust. The placement result nearly tripled during the first three months, to reach EUR 33.1 million (Q1 2007: EUR 12.3 million), primarily due to the successful placement of HCI Real Estate BRIC+.

Equity placed in the Secondary Life Insurance Market segment, which amounted to EUR 37.7 million, was - as expected - lower than last year's Q1 figure of EUR 46.1 million, but was fully in line with our plans.
The continuing uncertainties on the financial markets resulted in an expected decrease in placed equity in the Private Equity Fund of Funds product segment, to EUR 1.6 million (Q1 2007: EUR 3.0 million).

Outlook for the Entire Year 2008

Based on our well-filled pipeline and strong ongoing placement results, the HCI Group's target of EUR 880 million in placed equity for 2008 remains unchanged (2007: EUR 811 million). The Management Board also confirms the target of improving consolidated net income for 2008 to EUR 33 million (2007: EUR 30.6 million). In this connection it is important to note that the marketing of important high-commission, high-margin products is not scheduled to begin until the third quarter (in particular, more closed-end shipping funds and for the first time, aircraft funds and the new product HCI Deepsea Oil Explorer). Given this situation, earnings are expected to improve significantly in the second half of the year.

"HCI's sales got off to a strong start in 2008," said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. "We are very satisfied with the placement result achieved in the first quarter. It shows that our strategy of expanding our earnings base by diversifying products and marketing channels is bearing fruit. The revenues and earnings for the quarter are in line with our expectations. Given the marketing of important new products that will start in the second half, the figures for the first three months definitely cannot be projected over the whole year."

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of March 31, 2008, over 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totaling EUR 13.53 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

08.05.2008

Supervisory Board of HCI Capital AG appoints Dr. Ralf Friedrichs as new CEO

With the decision in favour of Dr. Ralf Friedrichs, the course is set to follow the path of continuous diversification and to lead the company in a promising future in friendly competition to its biggest shareholder MPC Capital. Friedrichs stands for strong profitable growth and an independent business development, giving new impulses to the company as well as to the market.

Dr. Ralf Friedrichs joined HCI Hanseatische Schiffstreuhand GmbH as a tax advisor in 2001 and was appointed as its general manager in 2003. Since HCI Capital AG went public in October 2005, he had been a member of its Management Board, where he was responsible for Product Development. He is known as an expert in the design of closed-end funds concepts and has contributed significantly to a stronger market position of HCI Capital in a growing competitive market. By introducing new areas of business to the company he made a major contribution to the successful positioning of HCI Capital at the time of its IPO.

"A powerful management team is indispensable for success oriented collaboration in the interest of a continued development of the HCI Capital Group. We are therefore very pleased to have won Dr. Ralf Friedrichs for the position of CEO as he has a strong character, is versed in all HCI matters and is recognized as an expert in the industry," noted Udo Bandow, Chairman of the Supervisory Board of HCI Capital AG.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

08.05.2008

Supervisory Board of HCI Capital AG appoints Dr. Ralf Friedrichs as new CEO

With the decision in favour of Dr. Ralf Friedrichs, the course is set to follow the path of continuous diversification and to lead the company in a promising future in friendly competition to its biggest shareholder MPC Capital. Friedrichs stands for strong profitable growth and an independent business development, giving new impulses to the company as well as to the market.

Dr. Ralf Friedrichs joined HCI Hanseatische Schiffstreuhand GmbH as a tax advisor in 2001 and was appointed as its general manager in 2003. Since HCI Capital AG went public in October 2005, he had been a member of its Management Board, where he was responsible for Product Development. He is known as an expert in the design of closed-end funds concepts and has contributed significantly to a stronger market position of HCI Capital in a growing competitive market. By introducing new areas of business to the company he made a major contribution to the successful positioning of HCI Capital at the time of its IPO.

"A powerful management team is indispensable for success oriented collaboration in the interest of a continued development of the HCI Capital Group. We are therefore very pleased to have won Dr. Ralf Friedrichs for the position of CEO as he has a strong character, is versed in all HCI matters and is recognized as an expert in the industry," noted Udo Bandow, Chairman of the Supervisory Board of HCI Capital AG.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Phone: +49 40 88881-236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr Olaf Streuer
HCI Capital AG
Head of Investor Relations
Phone: +49 40 88881-125
olaf.streuer@hci-capital.de

30.04.2008

HCI HAMMONIA SHIPPING AG acquires three 7.400 TEU vessels from Maersk

The three container vessels were build in 1996 at the "AP Moeller Maersk yard" in Odense. The specification of these vessels meets modern standards and would achieve a competitive charter rate in the market also without this underlying sale and lease back agreement.

"These 7.400 TEU vessels are a great addition to our current fleet" says Dr Karsten Liebing, board member of the HCI SHIPPING AG. "With the long term charter contract with Maersk, the leading liner company with a very strong credit rating, we secure a stable cash flow for the AG and enhanced the breath of our current portfolio", Dr Liebing says.

The board of the HAMMONIA SHIPPING AG predicts already a positive result for 2008 due to the Maersk deal and reaffirms a minimum forecasted yield of 6.5% for the charter period of the ships.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

30.04.2008

HCI HAMMONIA SHIPPING AG acquires three 7.400 TEU vessels from Maersk

The three container vessels were build in 1996 at the "AP Moeller Maersk yard" in Odense. The specification of these vessels meets modern standards and would achieve a competitive charter rate in the market also without this underlying sale and lease back agreement.

"These 7.400 TEU vessels are a great addition to our current fleet" says Dr Karsten Liebing, board member of the HCI SHIPPING AG. "With the long term charter contract with Maersk, the leading liner company with a very strong credit rating, we secure a stable cash flow for the AG and enhanced the breath of our current portfolio", Dr Liebing says.

The board of the HAMMONIA SHIPPING AG predicts already a positive result for 2008 due to the Maersk deal and reaffirms a minimum forecasted yield of 6.5% for the charter period of the ships.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

23.04.2008

Changes to HCI Capital AG’s Management Board

Wolfgang Essing is to leave the company, on good terms: a successor will be appointed shortly.

Wolfgang Essing (43) was appointed to the Management Board of HCI Capital Group in early 2007, and was nominated Chairman of the Management Board of HCI Capital AG in October of that year. He was charged with developing HCI Capital as an independent entity in a growing and increasingly competitive environment. The subsequent change in the shareholder structure and increase in MPC Capital's stake in HCI Capital have altered the parameters that he considered decisive. He is renouncing his duties with the company by amicable consent, and will retire from office on 30 June 2008.

The Supervisory Board, on behalf of all Group employees, would like to thank Mr Essing for his exceptional commitment. The end of this cooperation was met with regret. "Under Wolfgang Essing's guidance, HCI Capital AG set a new course in its successful progress and the expansion of its position to become one of the leading providers of high-quality investment products, whilst further developing the company's business at the same time. The Supervisory Board of HCI Capital AG would like to thank Mr Essing for the constructive, successful and trusting cooperation experienced under his tenure" stated Udo Bandow, Chairman of the Supervisory Board of HCI Capital AG. "We are aware of the responsibility to our staff, partners, customers and shareholders to find a suitable professional authority to fill the position of Chairman of the Management Board in as short a time as possible." Mr Bandow added that a successor will be appointed soon.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

23.04.2008

Changes to HCI Capital AG’s Management Board

Wolfgang Essing is to leave the company, on good terms: a successor will be appointed shortly.

Wolfgang Essing (43) was appointed to the Management Board of HCI Capital Group in early 2007, and was nominated Chairman of the Management Board of HCI Capital AG in October of that year. He was charged with developing HCI Capital as an independent entity in a growing and increasingly competitive environment. The subsequent change in the shareholder structure and increase in MPC Capital's stake in HCI Capital have altered the parameters that he considered decisive. He is renouncing his duties with the company by amicable consent, and will retire from office on 30 June 2008.

The Supervisory Board, on behalf of all Group employees, would like to thank Mr Essing for his exceptional commitment. The end of this cooperation was met with regret. "Under Wolfgang Essing's guidance, HCI Capital AG set a new course in its successful progress and the expansion of its position to become one of the leading providers of high-quality investment products, whilst further developing the company's business at the same time. The Supervisory Board of HCI Capital AG would like to thank Mr Essing for the constructive, successful and trusting cooperation experienced under his tenure" stated Udo Bandow, Chairman of the Supervisory Board of HCI Capital AG. "We are aware of the responsibility to our staff, partners, customers and shareholders to find a suitable professional authority to fill the position of Chairman of the Management Board in as short a time as possible." Mr Bandow added that a successor will be appointed soon.

About HCI:

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, 107,000 clients have invested EUR 5.34 billion in 471 issues, with an investment volume totalling more than EUR 13.53 billion (figures as at 31 Mar 2008), making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contact:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations contact:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

26.03.2008

Management board and supervisory board of HCI Capital AG issue reasoned opinion on MPC Capital AG takeover offer

The HCI Group is one of the leading non-bank-affiliated issuing houses for closed-end funds and structured products. At the time MPC Capital published its offer, it already held 15.1% of HCI's registered share capital and voting rights. In addition, on February 11, 2008, MPC Capital entered into an agreement with Corsair III Investments, Luxembourg, to acquire a further 20% of HCI's shares. MPC Capital is offering to pay HCI's shareholders a price of EUR 14.22 per share in cash, which corresponds to the minimum price required by law.

After thoroughly reviewing the offer document published on March 12, the management board and supervisory board of HCI Capital AG have concluded that the offer price is unfair for shareholders who intend to hold their shares for the medium to long term. This conclusion is supported by the fairness opinion provided by a renowned investment bank engaged by HCI Capital AG. The investment bank concludes that the amount of EUR 14.22 is below the actual fair value of HCI's stock. In performing the necessary financial analysis, which was based on recognized valuation methods, the investment bank also considered estimates from analysts at well-known banks and brokerage firms. However, the offer price of EUR 14.22 in cash per HCI share can be described as fair for short-term oriented shareholders, given the current situation on the stock markets in general and the current development of the financial sector in particular.

The management and supervisory boards welcome the bidder's plans, as expressed in the offer document, to maintain HCI Capital's status as a stand-alone company alongside MPC Capital AG by using a two-brand strategy. The boards believe that if HCI's independence is preserved, the HCI Group will also be in a position to benefit from the companies' potential cooperation and the resulting opportunities for growth.

The management and supervisory boards are of the opinion that for the HCI Group to remain successful, both on the purchasing and sales side, it must not only remain independent from a legal and economic perspective, but the market must also be convinced of HCI's independence. The bidder expressed its general agreement with this position in the offer document.

After completing its reviews, the management board and supervisory board have decided not to make a recommendation to shareholders on whether to accept or decline the offer. Acceptance of the offer may prove advantageous or disadvantageous for HCI's shareholders depending on the view one takes of the opportunities and risks associated with the offer's consummation.

Disclaimer:

Each HCI shareholder must make his or her own decision regarding the acceptance or non-acceptance of the offer, taking into account the overall circumstances, his or her individual circumstances (including personal tax situation) and his or her personal opinion about the possibilities pertaining to the future development of the value and market price of HCI's shares. Without prejudice to the mandatory provisions of applicable law, the management board and supervisory board are not responsible in the event that acceptance or non-acceptance of the offer should subsequently turn out to have adverse economic effects on any HCI shareholder.

The joint opinion of the management board and supervisory board has been published online on the company’s website at http://www.hci-capital.de and by being held for distribution free of charge at HCI Capital AG, Bleichenbrücke 10, 20354 Hamburg (Fax:+49 40 8888 1-199).

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of December 31, 2007, over 100,000 clients have invested close to EUR 5.2 billion in 468 issues, with an investment volume totaling more than EUR 13.27 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

26.03.2008

Management board and supervisory board of HCI Capital AG issue reasoned opinion on MPC Capital AG takeover offer

The HCI Group is one of the leading non-bank-affiliated issuing houses for closed-end funds and structured products. At the time MPC Capital published its offer, it already held 15.1% of HCI's registered share capital and voting rights. In addition, on February 11, 2008, MPC Capital entered into an agreement with Corsair III Investments, Luxembourg, to acquire a further 20% of HCI's shares. MPC Capital is offering to pay HCI's shareholders a price of EUR 14.22 per share in cash, which corresponds to the minimum price required by law.

After thoroughly reviewing the offer document published on March 12, the management board and supervisory board of HCI Capital AG have concluded that the offer price is unfair for shareholders who intend to hold their shares for the medium to long term. This conclusion is supported by the fairness opinion provided by a renowned investment bank engaged by HCI Capital AG. The investment bank concludes that the amount of EUR 14.22 is below the actual fair value of HCI's stock. In performing the necessary financial analysis, which was based on recognized valuation methods, the investment bank also considered estimates from analysts at well-known banks and brokerage firms. However, the offer price of EUR 14.22 in cash per HCI share can be described as fair for short-term oriented shareholders, given the current situation on the stock markets in general and the current development of the financial sector in particular.

The management and supervisory boards welcome the bidder's plans, as expressed in the offer document, to maintain HCI Capital's status as a stand-alone company alongside MPC Capital AG by using a two-brand strategy. The boards believe that if HCI's independence is preserved, the HCI Group will also be in a position to benefit from the companies' potential cooperation and the resulting opportunities for growth.

The management and supervisory boards are of the opinion that for the HCI Group to remain successful, both on the purchasing and sales side, it must not only remain independent from a legal and economic perspective, but the market must also be convinced of HCI's independence. The bidder expressed its general agreement with this position in the offer document.

After completing its reviews, the management board and supervisory board have decided not to make a recommendation to shareholders on whether to accept or decline the offer. Acceptance of the offer may prove advantageous or disadvantageous for HCI's shareholders depending on the view one takes of the opportunities and risks associated with the offer's consummation.

Disclaimer:

Each HCI shareholder must make his or her own decision regarding the acceptance or non-acceptance of the offer, taking into account the overall circumstances, his or her individual circumstances (including personal tax situation) and his or her personal opinion about the possibilities pertaining to the future development of the value and market price of HCI's shares. Without prejudice to the mandatory provisions of applicable law, the management board and supervisory board are not responsible in the event that acceptance or non-acceptance of the offer should subsequently turn out to have adverse economic effects on any HCI shareholder.

The joint opinion of the management board and supervisory board has been published online on the company’s website at http://www.hci-capital.de and by being held for distribution free of charge at HCI Capital AG, Bleichenbrücke 10, 20354 Hamburg (Fax:+49 40 8888 1-199).

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of December 31, 2007, over 100,000 clients have invested close to EUR 5.2 billion in 468 issues, with an investment volume totaling more than EUR 13.27 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

10.03.2008

HCI Capital AG: Net Income of EUR 30.6 million

• Net income target reached if last-minute special effects are eliminated
  
• Continuing diversification with innovative product concepts
  
• Strategic orientation lays solid foundation for further growth
  
• Proposed dividend of EUR 0.70

With placed equity of EUR 810.6 million, the HCI Group finished 2007 with a record level of placements. This reflects a 25.9% increase in placements over the previous year. During the year, the company increased its number of customers by 16.2%, from 87,700 to 101,900, while the number of sales partners rose by 52% to 1,583.

"As it continues to diversify its offering to include innovative products, the HCI Group has provided for future growth by tapping new levels of investors for itself and its sales partners," said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. "We have refocused our internal sales structure and have significantly enhanced the services we offer to our sales partners. This will provide a solid foundation for continuing our growth in dynamic markets in the medium and long term," said Essing.

On the earnings side, the strategic change in the HCI Group's product offering led to a significant shift in commission structures during the past year. Upfront sales commissions were partly replaced by regularly recurring (and thus ongoing) trustee, service and management fees, part of which will not have an effect until the coming years. This resulted in a decrease in revenues during the reporting period from EUR 145.6 million to EUR 137.3 million, or a 5.7% decrease from the prior year. The percentage of recurring revenues was up from 20.6% to 22.4%.

EBIT (earnings before interest and taxes) fell by 21.1% in 2007, from EUR 51.1 million to EUR 40.3 million. The other operating income in the amount of EUR 13.2 million was below last year's figure of EUR 21.3 million, which was influenced by exceptionally high income from the brokerage of ships.

The consolidated net income of EUR 30.6 million was affected by unexpected effects. These included tax expenses in connection with an audit in the amount of around EUR 2.6 million, which did not become apparent until the consolidated financial statements at December 31, 2007 were prepared. They also included expenses of EUR 1.8 million from including HCI Real Estate Finance I GmbH & Co. KG in the balance sheet. This had to be included in the IFRS consolidated financial statements at December 31, 2007 because of the lack of marketability resulting from the downturn in the real estate markets in the United States. If these effects are eliminated, the targeted earnings of EUR 35 million were achieved.

HCI's Management Board and Supervisory Board will propose that shareholders approve a dividend of EUR 0.70 per share (prior year: EUR 1.40 per share). This proposed dividend reflects the Management Board's goal of taking advantage of growth opportunities in the industry even in the midst of the change of conditions on the financial markets.

The turmoil on the international financial markets, triggered by the subprime mortgage crisis in the United States, have made it more difficult to design closed-end investment models and structured products.
As a result, banks have stepped up their requirements to finance fund projects for the entire industry.

Outlook

HCI will continue to grow its sales structures and expand them to include new sales channels, to lay an even more solid foundation for success and take its existing potential to the next level.

HCI Capital AG has set the goal for 2008 of increasing its placement results by approximately 10%, to around EUR 880 million.

After expanding its structured product offerings, the Company will tap additional new asset classes for itself and its partners. Thus, for example, in 2008 HCI will offer a closed-end aircraft fund for the first time, and will penetrate a brand new market segment with the HCI Deepsea Oil Explorer.

Another of HCI's goals is to increase its business with institutional and international investors. Here the Company will initially concentrate on Ships and Real Estate. Following the successful placement of HCI Hammonia Shipping AG, there is additional potential for capital market investments in ships.

This will be accompanied by a further decoupling of revenues from placement volumes. Although the income streams will initially decrease in the short term, they will increase in favor of recurring income over the long term.

On the basis of these strategic goals and given the current situation on the financial markets, the Management Board expects consolidated net income for 2008 on the level of approximately EUR 33 million.

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of December 31, 2007, over 100,000 clients have invested close to EUR 5.2 billion in 468 issues, with an investment volume totaling more than EUR 13.27 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

10.03.2008

HCI Capital AG: Net Income of EUR 30.6 million

• Net income target reached if last-minute special effects are eliminated
  
• Continuing diversification with innovative product concepts
  
• Strategic orientation lays solid foundation for further growth
  
• Proposed dividend of EUR 0.70

With placed equity of EUR 810.6 million, the HCI Group finished 2007 with a record level of placements. This reflects a 25.9% increase in placements over the previous year. During the year, the company increased its number of customers by 16.2%, from 87,700 to 101,900, while the number of sales partners rose by 52% to 1,583.

"As it continues to diversify its offering to include innovative products, the HCI Group has provided for future growth by tapping new levels of investors for itself and its sales partners," said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. "We have refocused our internal sales structure and have significantly enhanced the services we offer to our sales partners. This will provide a solid foundation for continuing our growth in dynamic markets in the medium and long term," said Essing.

On the earnings side, the strategic change in the HCI Group's product offering led to a significant shift in commission structures during the past year. Upfront sales commissions were partly replaced by regularly recurring (and thus ongoing) trustee, service and management fees, part of which will not have an effect until the coming years. This resulted in a decrease in revenues during the reporting period from EUR 145.6 million to EUR 137.3 million, or a 5.7% decrease from the prior year. The percentage of recurring revenues was up from 20.6% to 22.4%.

EBIT (earnings before interest and taxes) fell by 21.1% in 2007, from EUR 51.1 million to EUR 40.3 million. The other operating income in the amount of EUR 13.2 million was below last year's figure of EUR 21.3 million, which was influenced by exceptionally high income from the brokerage of ships.

The consolidated net income of EUR 30.6 million was affected by unexpected effects. These included tax expenses in connection with an audit in the amount of around EUR 2.6 million, which did not become apparent until the consolidated financial statements at December 31, 2007 were prepared. They also included expenses of EUR 1.8 million from including HCI Real Estate Finance I GmbH & Co. KG in the balance sheet. This had to be included in the IFRS consolidated financial statements at December 31, 2007 because of the lack of marketability resulting from the downturn in the real estate markets in the United States. If these effects are eliminated, the targeted earnings of EUR 35 million were achieved.

HCI's Management Board and Supervisory Board will propose that shareholders approve a dividend of EUR 0.70 per share (prior year: EUR 1.40 per share). This proposed dividend reflects the Management Board's goal of taking advantage of growth opportunities in the industry even in the midst of the change of conditions on the financial markets.

The turmoil on the international financial markets, triggered by the subprime mortgage crisis in the United States, have made it more difficult to design closed-end investment models and structured products.
As a result, banks have stepped up their requirements to finance fund projects for the entire industry.

Outlook

HCI will continue to grow its sales structures and expand them to include new sales channels, to lay an even more solid foundation for success and take its existing potential to the next level.

HCI Capital AG has set the goal for 2008 of increasing its placement results by approximately 10%, to around EUR 880 million.

After expanding its structured product offerings, the Company will tap additional new asset classes for itself and its partners. Thus, for example, in 2008 HCI will offer a closed-end aircraft fund for the first time, and will penetrate a brand new market segment with the HCI Deepsea Oil Explorer.

Another of HCI's goals is to increase its business with institutional and international investors. Here the Company will initially concentrate on Ships and Real Estate. Following the successful placement of HCI Hammonia Shipping AG, there is additional potential for capital market investments in ships.

This will be accompanied by a further decoupling of revenues from placement volumes. Although the income streams will initially decrease in the short term, they will increase in favor of recurring income over the long term.

On the basis of these strategic goals and given the current situation on the financial markets, the Management Board expects consolidated net income for 2008 on the level of approximately EUR 33 million.

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. As of December 31, 2007, over 100,000 clients have invested close to EUR 5.2 billion in 468 issues, with an investment volume totaling more than EUR 13.27 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries:

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations inquiries:

Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

06.03.2008

HCI Capital AG: Decrease of group net income to EUR 30.6 million

Dividend proposal of EUR 0.70

The managing board and the supervisory board of HCI Capital AG decided to propose to the shareholders a reduced dividend of EUR 0.70 per share on the annual general meeting (2006: EUR 1.40 per share). With the proposed dividend reduction, HCI Capital AG intends to strengthen its group equity capital base to match the framework conditions on the financial markets that have significantly changed over the last months. In the course of this development banks have increased their requirements to finance fund projects.
HCI Capital AG placed equity in the aggregate amount of EUR 810.6 million during the financial year 2007, a 25.9% increase compared to the previous year’s result of EUR 643.9 million – the highest amount in the company’s history.
The revenues have declined from EUR 145.6 million to EUR 137.3 million, partially due to strategic amendments in the mixture of products to generate more stable cash flows by achieving a higher quota of recurring income.
HCI Capital AG’s target for 2008 is an increase in equity placement by approx. 10% to about EUR 880 million On the basis of this goal and regarding the current situation on the financial markets, the managing board expects a group net income of about EUR 33 million for the fiscal year 2008.
As planned, HCI will release its annual report 2007 and present the financial results on a press and analyst conference on 10 March 2008.

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 100,000 clients have invested approximately EUR 5.2 billion in 468 issues, with an investment volume totalling more than EUR 13.27 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Public Relations:

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations:

Dr. Olaf Streuer
HCI Capital AG
Leiter Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

06.03.2008

HCI Capital AG: Decrease of group net income to EUR 30.6 million

Dividend proposal of EUR 0.70

The managing board and the supervisory board of HCI Capital AG decided to propose to the shareholders a reduced dividend of EUR 0.70 per share on the annual general meeting (2006: EUR 1.40 per share). With the proposed dividend reduction, HCI Capital AG intends to strengthen its group equity capital base to match the framework conditions on the financial markets that have significantly changed over the last months. In the course of this development banks have increased their requirements to finance fund projects.
HCI Capital AG placed equity in the aggregate amount of EUR 810.6 million during the financial year 2007, a 25.9% increase compared to the previous year’s result of EUR 643.9 million – the highest amount in the company’s history.
The revenues have declined from EUR 145.6 million to EUR 137.3 million, partially due to strategic amendments in the mixture of products to generate more stable cash flows by achieving a higher quota of recurring income.
HCI Capital AG’s target for 2008 is an increase in equity placement by approx. 10% to about EUR 880 million On the basis of this goal and regarding the current situation on the financial markets, the managing board expects a group net income of about EUR 33 million for the fiscal year 2008.
As planned, HCI will release its annual report 2007 and present the financial results on a press and analyst conference on 10 March 2008.

About HCI:

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 100,000 clients have invested approximately EUR 5.2 billion in 468 issues, with an investment volume totalling more than EUR 13.27 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Public Relations:

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations:

Dr. Olaf Streuer
HCI Capital AG
Leiter Investor Relations
Tel.: +49 40 88 88 1 125
olaf.streuer@hci-capital.de

30.01.2008

HCI Capital AG: EUR 811 Million in Equity Placements

• Placements up by approx. 26% year-on-year
  
• Particular focus on ships and real estate
  
• Strong growth in business with institutional investors
  
• Structured products successfully established

Record level of placements in 2007

The Ship Participations segment was a key contributor to successful placements during the period under review: a total of EUR 598.4 million - up 55.9% from the previous year's figure of EUR 384.0 million - was raised through traditional closed-end ship participation funds, investment plans and structured products, plus the first-time listing of a shipping company which was subscribed by institutional investors. Considering the extremely strong investor demand, further placements would have been possible - had suitable products been available. In the Ship Participations segment, sales to private investors alone were up by 16.8 per cent, to EUR 448.4 million. Real estate placements also developed very positively indeed, rising 20.3%, to EUR 101 million. The trends seen in secondary market life insurance products (with placements down by 27.6%, to EUR 96.1 million) and private equity products (off by 65.5%, to EUR 14.9 million) reflected overall market developments.

The highly successful placement performance shown by HCI Group demonstrates that the realignment of the Group's distribution strategy is bearing fruit. Launched at the beginning of 2007, the new strategy clearly focused HCI's sales force onto distribution channels and regions. Accordingly, the number of distribution partners actively selling HCI Capital AG's products rose by 52% year-on-year.

HCI Group significantly enhanced the diversification of products within its key areas of expertise throughout 2007. Having emphasised its conceptual focus on investor needs such as capital protection, higher fungibility, diversification of risk, and lower entry thresholds, the Group launched numerous innovative products, thus clearly expanding its customer base and exploring new investor groups.

HCI enjoyed great success in establishing its new structured product class within just one year: placements during the financial year under review totalled EUR 79.9 million. Key product innovations included the launch of a capital-guaranteed ship participation, an investment certificate based on an actively-managed portfolio of German and UK life insurance policies, and two certificates providing exposure to the bulk shipping segment.

HCI Group's power to innovate was also evident in the Real Estate segment: the new HCI Real Estate BRIC+ fund, a fund of funds investing in a diversified portfolio of real estate opportunity funds in Brazil, Russia, India and China, seamlessly continued the success of its high-performing predecessor, the HCI Real Estate Growth I fund. In direct succession, both products were awarded the prize as the best closed-end international real estate fund in 2006 and 2007.

The EUR 150 million placement of HCI HAMMONIA SHIPPING AG, fully subscribed by institutional investors, was a landmark transaction during the financial year under review. The successful IPO was evidence for the attractiveness of ships as an asset class to institutional investors: thanks to the growing appetite of insurance companies, banks and pension funds for these assets, this type of ship financing holds great potential for the future.
With its product range covering traditional participation structures alongside investment plans, a shipping IPO, capital-guaranteed ship investment, and several investment certificates, HCI has been the first and only issuing house to offer ship investments suitable to virtually any type of investor.

Even though total placements in 2007, at approx. EUR 811 million, fell slightly short of HCI's own target of EUR 700 million (plus EUR 150 million generated through the listed shipping company), the results achieved mark a record in the company's 23-year history, and a 25.9% increase compared to 2006. This sales performance is testament to HCI Group's distribution strength and power to innovate.

Numerous product innovations are planned for 2008. For instance, the launch of the closed-end "HCI Deepsea Oil Explorer" fund will bring fresh momentum, offering private investors the opportunity of gaining exposure to a crude oil exploration platform for the first time. Mr Essing added that "HCI entered a new dimension of size in 2007. We gained access to new investor groups, with a sustained expansion of our product range. This year we will explore further asset classes, to continue offering innovative products to our investors."

HCI Capital AG will publish detailed 2007 results, together with an outlook on the current financial year at its press conference to present the financial statements, which will take place on 10 March 2008.

• Pressemitteilung - EK 2007 (englisch)

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany (figures as at 30 Sep 2007). HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contacts

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

30.01.2008

HCI Capital AG: EUR 811 Million in Equity Placements

• Placements up by approx. 26% year-on-year
  
• Particular focus on ships and real estate
  
• Strong growth in business with institutional investors
  
• Structured products successfully established

Record level of placements in 2007

The Ship Participations segment was a key contributor to successful placements during the period under review: a total of EUR 598.4 million - up 55.9% from the previous year's figure of EUR 384.0 million - was raised through traditional closed-end ship participation funds, investment plans and structured products, plus the first-time listing of a shipping company which was subscribed by institutional investors. Considering the extremely strong investor demand, further placements would have been possible - had suitable products been available. In the Ship Participations segment, sales to private investors alone were up by 16.8 per cent, to EUR 448.4 million. Real estate placements also developed very positively indeed, rising 20.3%, to EUR 101 million. The trends seen in secondary market life insurance products (with placements down by 27.6%, to EUR 96.1 million) and private equity products (off by 65.5%, to EUR 14.9 million) reflected overall market developments.

The highly successful placement performance shown by HCI Group demonstrates that the realignment of the Group's distribution strategy is bearing fruit. Launched at the beginning of 2007, the new strategy clearly focused HCI's sales force onto distribution channels and regions. Accordingly, the number of distribution partners actively selling HCI Capital AG's products rose by 52% year-on-year.

HCI Group significantly enhanced the diversification of products within its key areas of expertise throughout 2007. Having emphasised its conceptual focus on investor needs such as capital protection, higher fungibility, diversification of risk, and lower entry thresholds, the Group launched numerous innovative products, thus clearly expanding its customer base and exploring new investor groups.

HCI enjoyed great success in establishing its new structured product class within just one year: placements during the financial year under review totalled EUR 79.9 million. Key product innovations included the launch of a capital-guaranteed ship participation, an investment certificate based on an actively-managed portfolio of German and UK life insurance policies, and two certificates providing exposure to the bulk shipping segment.

HCI Group's power to innovate was also evident in the Real Estate segment: the new HCI Real Estate BRIC+ fund, a fund of funds investing in a diversified portfolio of real estate opportunity funds in Brazil, Russia, India and China, seamlessly continued the success of its high-performing predecessor, the HCI Real Estate Growth I fund. In direct succession, both products were awarded the prize as the best closed-end international real estate fund in 2006 and 2007.

The EUR 150 million placement of HCI HAMMONIA SHIPPING AG, fully subscribed by institutional investors, was a landmark transaction during the financial year under review. The successful IPO was evidence for the attractiveness of ships as an asset class to institutional investors: thanks to the growing appetite of insurance companies, banks and pension funds for these assets, this type of ship financing holds great potential for the future.
With its product range covering traditional participation structures alongside investment plans, a shipping IPO, capital-guaranteed ship investment, and several investment certificates, HCI has been the first and only issuing house to offer ship investments suitable to virtually any type of investor.

Even though total placements in 2007, at approx. EUR 811 million, fell slightly short of HCI's own target of EUR 700 million (plus EUR 150 million generated through the listed shipping company), the results achieved mark a record in the company's 23-year history, and a 25.9% increase compared to 2006. This sales performance is testament to HCI Group's distribution strength and power to innovate.

Numerous product innovations are planned for 2008. For instance, the launch of the closed-end "HCI Deepsea Oil Explorer" fund will bring fresh momentum, offering private investors the opportunity of gaining exposure to a crude oil exploration platform for the first time. Mr Essing added that "HCI entered a new dimension of size in 2007. We gained access to new investor groups, with a sustained expansion of our product range. This year we will explore further asset classes, to continue offering innovative products to our investors."

HCI Capital AG will publish detailed 2007 results, together with an outlook on the current financial year at its press conference to present the financial statements, which will take place on 10 March 2008.

• Pressemitteilung - EK 2007 (englisch)

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany (figures as at 30 Sep 2007). HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contacts

Ingo Pfeil
HCI Capital AG
Leiter Öffentlichkeitsarbeit
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

16.01.2008

HCI Acquires 25 Percent Stake in eFonds Holding AG

• Strategic step to explore ground-breaking business line
  
• HCI joins existing shareholders Alexander Betz, the founder of eFonds, MPC Capital, and Meridian 10 Holding

eFonds Group comprises several subsidiaries: eFonds24, abs Fondsplattform, eFonds Kompass, eFonds24.at, and sFonds Tectavis, the provider of the liability umbrella. As a distribution platform for closed-end funds, the Group enjoys an excellent market position, combined with a closely-knit network and a strong reputation with its distribution partners. Last year the Group placed an aggregate EUR 622 million in equity. Commission income was up by about 40 per cent, exceeding EUR 60 million. At just under EUR 10 billion, total fund assets managed using the systems provided by abs, the Group’s fund platform, have tripled compared to just one year ago.

eFonds Tectavis, the provider of the liability umbrella, is also strategically significant: given the combination of a changing legal framework with an ever-expanding range of products on offer, distribution partners increasingly seek to limit their liability.

HCI Capital AG will acquire a 25 per cent stake in eFonds Holding AG. Completion of the transaction is subject to the necessary regulatory approvals. The other shareholders are Mr Alexander Betz, the company founder and Chairman of the Management Board, who holds a 30 per cent stake; MPC Capital AG (25 per cent) and Meridian 10 Holding (20 per cent).

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contacts

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

16.01.2008

HCI Acquires 25 Percent Stake in eFonds Holding AG

• Strategic step to explore ground-breaking business line
  
• HCI joins existing shareholders Alexander Betz, the founder of eFonds, MPC Capital, and Meridian 10 Holding

eFonds Group comprises several subsidiaries: eFonds24, abs Fondsplattform, eFonds Kompass, eFonds24.at, and sFonds Tectavis, the provider of the liability umbrella. As a distribution platform for closed-end funds, the Group enjoys an excellent market position, combined with a closely-knit network and a strong reputation with its distribution partners. Last year the Group placed an aggregate EUR 622 million in equity. Commission income was up by about 40 per cent, exceeding EUR 60 million. At just under EUR 10 billion, total fund assets managed using the systems provided by abs, the Group’s fund platform, have tripled compared to just one year ago.

eFonds Tectavis, the provider of the liability umbrella, is also strategically significant: given the combination of a changing legal framework with an ever-expanding range of products on offer, distribution partners increasingly seek to limit their liability.

HCI Capital AG will acquire a 25 per cent stake in eFonds Holding AG. Completion of the transaction is subject to the necessary regulatory approvals. The other shareholders are Mr Alexander Betz, the company founder and Chairman of the Management Board, who holds a 30 per cent stake; MPC Capital AG (25 per cent) and Meridian 10 Holding (20 per cent).

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Press contacts

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

11.01.2008

General Electric Transportation Finance Acquires Stake in HAMMONIA Shipping Unit

• General Electric subsidiary acquires a 32 per cent stake via a capital increase
  
• Investment provides the foundation for accelerated, long-term growth
  
• Cooperation to provide positive momentum for HCI Capital AG

HCI subsidiary wins international partner for its shipping business

GE Transportation Finance has been a leading global provider of finance to the international logistics and transport sectors for about 30 years now. Besides maritime shipping, the company is active in other transport sectors such as rail freight and port infrastructure, offering equity finance alongside debt, leasing, and structured products. Its investment in HAMMONIA will give GE Transportation Finance exposure to the fast-growing container shipping segment. Completion of the transaction is subject to the necessary regulatory approvals.

HAMMONIA Reederei was established in September 2003 to operate a fleet of container carriers and dry bulk ships. The company operates numerous container ships financed by closed-end funds managed by HCI, as well as the entire fleet of HCI HAMMONIA SHIPPING AG. HAMMONIA's fleet currently consists of 21 ships with a maximum capacity of 8,200 TEU. 15 additional ships have already been ordered, and are currently being built. The subsidiary provided a significant contribution to HCI Group's consolidated results during the past financial year.

The cash contribution will not only increase HAMMONIA's equity capital, but will also boost its financial flexibility for future development projects. Moreover, the investment by GE Transportation Finance - together with the new shareholder's triple-A rating - will expand HAMMONIA's financing options.

The stake held in HAMMONIA is a key asset to HCI Group: with the new cooperation, HCI expects to generate further positive contributions in the future.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Presseanfragen

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

11.01.2008

General Electric Transportation Finance Acquires Stake in HAMMONIA Shipping Unit

• General Electric subsidiary acquires a 32 per cent stake via a capital increase
  
• Investment provides the foundation for accelerated, long-term growth
  
• Cooperation to provide positive momentum for HCI Capital AG

HCI subsidiary wins international partner for its shipping business

GE Transportation Finance has been a leading global provider of finance to the international logistics and transport sectors for about 30 years now. Besides maritime shipping, the company is active in other transport sectors such as rail freight and port infrastructure, offering equity finance alongside debt, leasing, and structured products. Its investment in HAMMONIA will give GE Transportation Finance exposure to the fast-growing container shipping segment. Completion of the transaction is subject to the necessary regulatory approvals.

HAMMONIA Reederei was established in September 2003 to operate a fleet of container carriers and dry bulk ships. The company operates numerous container ships financed by closed-end funds managed by HCI, as well as the entire fleet of HCI HAMMONIA SHIPPING AG. HAMMONIA's fleet currently consists of 21 ships with a maximum capacity of 8,200 TEU. 15 additional ships have already been ordered, and are currently being built. The subsidiary provided a significant contribution to HCI Group's consolidated results during the past financial year.

The cash contribution will not only increase HAMMONIA's equity capital, but will also boost its financial flexibility for future development projects. Moreover, the investment by GE Transportation Finance - together with the new shareholder's triple-A rating - will expand HAMMONIA's financing options.

The stake held in HAMMONIA is a key asset to HCI Group: with the new cooperation, HCI expects to generate further positive contributions in the future.

About HCI

Established in 1985, the HCI Group creates closed-end funds and structured investments in shipping, real estate, private equity fund of funds, and in the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. The HCI share has been included in the SDAX index of the Frankfurt Stock Exchange since 19 December 2005, and in the Hamburg Regional Index (HASPAX) since 1 September 2006.

Presseanfragen

Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

21.11.2007

HCI Real Estate BRIC+

The First Returns Just Eight Short Weeks after Market Launch

"The early returns are a testament to the expertise of the Townsend Group, our partner in this venture. Clearly we've invested in the right target funds," says Oliver Georg, managing director of HCI Immobilien Consult GmbH. The U.S.-based Townsend Group, the largest real estate investment consulting firm for institutional investors, is in charge of evaluating and selecting the opportunity funds. "HCI Real Estate BRIC+" is a fund of funds that invests in a diversified portfolio of opportunity funds in the real estate segment. As its name suggests, the target markets include the BRIC countries, Brazil, Russia, India and China, as well as additional growth markets like Mexico and South Korea. The minimum investment is USD 15,000 plus a five percent premium.

About HCI (as of September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested close to EUR 5.0 billion in 457 issues, with an investment volume totaling more than EUR 12.77 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Holger Friedrichs
Dr. Zitelmann PB. GmbH
Head of Media & Communications
Tel. +49 30 726276 157
friedrichs@zitelmann.com

21.11.2007

HCI Real Estate BRIC+

The First Returns Just Eight Short Weeks after Market Launch

"The early returns are a testament to the expertise of the Townsend Group, our partner in this venture. Clearly we've invested in the right target funds," says Oliver Georg, managing director of HCI Immobilien Consult GmbH. The U.S.-based Townsend Group, the largest real estate investment consulting firm for institutional investors, is in charge of evaluating and selecting the opportunity funds. "HCI Real Estate BRIC+" is a fund of funds that invests in a diversified portfolio of opportunity funds in the real estate segment. As its name suggests, the target markets include the BRIC countries, Brazil, Russia, India and China, as well as additional growth markets like Mexico and South Korea. The minimum investment is USD 15,000 plus a five percent premium.

About HCI (as of September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity funds of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested close to EUR 5.0 billion in 457 issues, with an investment volume totaling more than EUR 12.77 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Holger Friedrichs
Dr. Zitelmann PB. GmbH
Head of Media & Communications
Tel. +49 30 726276 157
friedrichs@zitelmann.com

14.11.2007

Third quarterly report for period ended September 30, 2007

• Placement volume up by 15.7 percent
  
• Revenue increase of 5.8 percent to EUR 89.3 million
  
• Year-end forecast of at least EUR 35 million confirmed
  
• Group earnings basis broadened by successful expansion of institutional business

Sales of HCI Products Up by over 15 Percent

The Management Board expressed satisfaction with the results for the first three quarters. As Wolfgang Essing, Chairman of the HCI Management Board stated, "All key figures are on target. We see very good chances for reaching our placement goals. With the placement of HCI Hammonia Shipping AG finalized our total volume forecast for this year will exceed the EUR 800 million mark for the first time." Despite the expected decline in EBIT, earnings after taxes are almost on the same level as last year's figure and account for EUR 27.2 million, due largely to an improvement in the financial result and a lower income tax.

Sound placement results in the ship and real estate segments

Sales of ship and real estate funds developed very satisfactorily during the first three quarters of the year. The ship segment increased its placement result by 50 percent, bringing it up to EUR 280.3 million. With world trade continuing to grow, HCI forecasts a strong demand for ship investment funds in the next few years and has prepared accordingly with adequate products. The real estate segment grew too, presenting a 14.3-percent rise to EUR 71.1 million, an equally pleasing result. The demand for secondary life insurance market products and private equity funds of funds, influenced and affected by the current instability of the financial market, dropped somewhat. "HCI has continued to diversify its product palette, a strategy set two years ago. The current market demand clearly shows that a sound development in the ship segment can be expected in the years to come. All the better that the real estate sector is developing so nicely, too," HCI chairman Wolfgang Essing concluded.

Steady expansion of product range

Early this year, the company introduced a new sector for structured products which accounted for 14.4 percent of the placement results, totalling EUR 62.7 million for the period under review. As CPO Dr. Oliver Moosmayer noted, "The success of structured products is a direct result of a shift in client demand. HCI is will prepared to meet the requirements with innovative product concept."

Earnings basis further diversified

With a public shipping company scheduled to go public on November 27, 2007, institutional investors now have the opportunity to benefit from the profitable ship fund sector. Dr. Rolando Gennari, CFO of HCI, remarked: "This step has given us access to a new group of clients, hence further stabilizing the development of HCI earnings." Earnings of a recurring nature rose from EUR 21.9 million to EUR 23.2 million for the period ended September 30, 2007, thus reducing still further HCI's dependence on revenue from product sales.

Outlook

Given the present business development, the Management Board forecasts a consolidated net income after taxes of at least EUR 35 million for 2007 (earnings per share at EUR 1.46) and reconfirms its shareholder-friendly dividend policy.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
NewMark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

14.11.2007

Third quarterly report for period ended September 30, 2007

• Placement volume up by 15.7 percent
  
• Revenue increase of 5.8 percent to EUR 89.3 million
  
• Year-end forecast of at least EUR 35 million confirmed
  
• Group earnings basis broadened by successful expansion of institutional business

Sales of HCI Products Up by over 15 Percent

The Management Board expressed satisfaction with the results for the first three quarters. As Wolfgang Essing, Chairman of the HCI Management Board stated, "All key figures are on target. We see very good chances for reaching our placement goals. With the placement of HCI Hammonia Shipping AG finalized our total volume forecast for this year will exceed the EUR 800 million mark for the first time." Despite the expected decline in EBIT, earnings after taxes are almost on the same level as last year's figure and account for EUR 27.2 million, due largely to an improvement in the financial result and a lower income tax.

Sound placement results in the ship and real estate segments

Sales of ship and real estate funds developed very satisfactorily during the first three quarters of the year. The ship segment increased its placement result by 50 percent, bringing it up to EUR 280.3 million. With world trade continuing to grow, HCI forecasts a strong demand for ship investment funds in the next few years and has prepared accordingly with adequate products. The real estate segment grew too, presenting a 14.3-percent rise to EUR 71.1 million, an equally pleasing result. The demand for secondary life insurance market products and private equity funds of funds, influenced and affected by the current instability of the financial market, dropped somewhat. "HCI has continued to diversify its product palette, a strategy set two years ago. The current market demand clearly shows that a sound development in the ship segment can be expected in the years to come. All the better that the real estate sector is developing so nicely, too," HCI chairman Wolfgang Essing concluded.

Steady expansion of product range

Early this year, the company introduced a new sector for structured products which accounted for 14.4 percent of the placement results, totalling EUR 62.7 million for the period under review. As CPO Dr. Oliver Moosmayer noted, "The success of structured products is a direct result of a shift in client demand. HCI is will prepared to meet the requirements with innovative product concept."

Earnings basis further diversified

With a public shipping company scheduled to go public on November 27, 2007, institutional investors now have the opportunity to benefit from the profitable ship fund sector. Dr. Rolando Gennari, CFO of HCI, remarked: "This step has given us access to a new group of clients, hence further stabilizing the development of HCI earnings." Earnings of a recurring nature rose from EUR 21.9 million to EUR 23.2 million for the period ended September 30, 2007, thus reducing still further HCI's dependence on revenue from product sales.

Outlook

Given the present business development, the Management Board forecasts a consolidated net income after taxes of at least EUR 35 million for 2007 (earnings per share at EUR 1.46) and reconfirms its shareholder-friendly dividend policy.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
NewMark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

12.11.2007

Successful Placement of HCI Hammonia Shipping AG

• EUR 150 million equity capital placed with institutional investors
  
• First listing on Hanseatic Securities Exchange, Hamburg on November 27, 2007
  
• Eight container ships already in portfolio

In Germany to date, mainly private clients have invested in closed-end funds in the growing ship segment. HCI Capital AG is expanding its product portfolio with a public company in the shipping sector, and offering institutional investors a customized entrance into the container shipping market. "The successful placement of HCI HAMMONIA SHIPPING AG reflects the appeal of this new package, particularly for institutional investors", said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. Essing went on to explain that, "With the structure of this product, well adapted to the capital market, institutional investors profit from its daily liquidity, easy account booking and the tax benefits of tonnage tax. The tonnage tax enables the shipping company to distribute return to each of the ship fund investors practically tax-free. In turn, depending on the legal structure of public corporations such as banking institutions and insurance companies, the capital return tax on dividends may be offset, making an investment in a public shipping company highly attractive for institutional investors."

The stock will first be listed on the Hanseatic Securities Exchange on November 27, 2007. A minimum of 500 shares in the stock was offered to investors during the subscription period.

Portfolio of eight ships at issue date

The HCI HAMMONIA SHIPPING AG will act as the overall holding company of several private limited ship partnerships which, in turn, invest in oceangoing vessels. "Contrary to the public company structures presently listed on the stock market, the HCI HAMMONIA SHIPPING AG knows from the outset which ships it plans to invest in. The portfolio is already equipped with six container ships with a transport capacity of 2,500 TEU each, the first of which is scheduled to be delivered during the final quarter of 2007. Another two container ships in the 3,100 TEU league which are already in operation will also come into our possession in 2007," explained Dr. Karsten Liebing, Managing Director of Hammonia Reederei GmbH & Co. KG and Chairman of HCI Hammonia Shipping AG. Liebing continued, "The successful placement of the fund puts us in the very comfortable position of being able to buy more ships for the portfolio."

Given the volatile charter rates and possible fluctuations of ship deployment, all eight ships will be integrated into pools consolidating charter income of numerous ships of the same type which are under the management of Peter Döhle Schiffahrts-KG, thus guaranteeing high revenue stability. Jens Burgemeister, Chairman of HCI HAMMONIA SHIPPING AG noted, "We plan to distribute a regular dividend of about 6.5 percent to our shareholders. Investors are highly interested in this well-calculated investment, so that despite the current turmoil in the financial markets placement volume totalled EUR 150 million. Discussions with institutional investors have revealed to us a great future potential in this asset class given a stabilisation of the financial markets."

About HCI (as per September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

12.11.2007

Successful Placement of HCI Hammonia Shipping AG

• EUR 150 million equity capital placed with institutional investors
  
• First listing on Hanseatic Securities Exchange, Hamburg on November 27, 2007
  
• Eight container ships already in portfolio

In Germany to date, mainly private clients have invested in closed-end funds in the growing ship segment. HCI Capital AG is expanding its product portfolio with a public company in the shipping sector, and offering institutional investors a customized entrance into the container shipping market. "The successful placement of HCI HAMMONIA SHIPPING AG reflects the appeal of this new package, particularly for institutional investors", said Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. Essing went on to explain that, "With the structure of this product, well adapted to the capital market, institutional investors profit from its daily liquidity, easy account booking and the tax benefits of tonnage tax. The tonnage tax enables the shipping company to distribute return to each of the ship fund investors practically tax-free. In turn, depending on the legal structure of public corporations such as banking institutions and insurance companies, the capital return tax on dividends may be offset, making an investment in a public shipping company highly attractive for institutional investors."

The stock will first be listed on the Hanseatic Securities Exchange on November 27, 2007. A minimum of 500 shares in the stock was offered to investors during the subscription period.

Portfolio of eight ships at issue date

The HCI HAMMONIA SHIPPING AG will act as the overall holding company of several private limited ship partnerships which, in turn, invest in oceangoing vessels. "Contrary to the public company structures presently listed on the stock market, the HCI HAMMONIA SHIPPING AG knows from the outset which ships it plans to invest in. The portfolio is already equipped with six container ships with a transport capacity of 2,500 TEU each, the first of which is scheduled to be delivered during the final quarter of 2007. Another two container ships in the 3,100 TEU league which are already in operation will also come into our possession in 2007," explained Dr. Karsten Liebing, Managing Director of Hammonia Reederei GmbH & Co. KG and Chairman of HCI Hammonia Shipping AG. Liebing continued, "The successful placement of the fund puts us in the very comfortable position of being able to buy more ships for the portfolio."

Given the volatile charter rates and possible fluctuations of ship deployment, all eight ships will be integrated into pools consolidating charter income of numerous ships of the same type which are under the management of Peter Döhle Schiffahrts-KG, thus guaranteeing high revenue stability. Jens Burgemeister, Chairman of HCI HAMMONIA SHIPPING AG noted, "We plan to distribute a regular dividend of about 6.5 percent to our shareholders. Investors are highly interested in this well-calculated investment, so that despite the current turmoil in the financial markets placement volume totalled EUR 150 million. Discussions with institutional investors have revealed to us a great future potential in this asset class given a stabilisation of the financial markets."

About HCI (as per September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

07.11.2007

HCI Elected Best Issuing House of the Year

• HCI ranks first for Trade Public Award at funds & finance 2007 trade show
  
• Top ranking for financial experts' service and management

The final evaluation for the Closed-End Fund category numbering 131 candidates was officially announced today. According to the funds & finance organizers the financial service pros judging the candidates based their decisions primarily on above-average performance as well as on cordial service towards investors.

Last year, HCI Capital AG was elected the issuing house with the most cordial service. Wolfgang Essing, Chairman of the Board of HCI Capital AG, stated that, "The funds & finance Trade Public Award shows that we have been right in catering to our clients. We will continue to focus our efforts in this direction while expanding our range of services for both our sales partners and our clients."

About HCI (as per September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporate and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

07.11.2007

HCI Elected Best Issuing House of the Year

• HCI ranks first for Trade Public Award at funds & finance 2007 trade show
  
• Top ranking for financial experts' service and management

The final evaluation for the Closed-End Fund category numbering 131 candidates was officially announced today. According to the funds & finance organizers the financial service pros judging the candidates based their decisions primarily on above-average performance as well as on cordial service towards investors.

Last year, HCI Capital AG was elected the issuing house with the most cordial service. Wolfgang Essing, Chairman of the Board of HCI Capital AG, stated that, "The funds & finance Trade Public Award shows that we have been right in catering to our clients. We will continue to focus our efforts in this direction while expanding our range of services for both our sales partners and our clients."

About HCI (as per September 30, 2007)

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 97,500 clients have invested approximately EUR 5.0 billion in 457 issues, with an investment volume totalling more than EUR 12.77 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Public Relations Manager
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporate and Capital Markets
Tel.: +49 69 944 180 69
thomas.luber@newmark.de

26.10.2007

Corsair takes over 10% block of shares from Christ Capital

"This financial commitment shows that, with Corsair, we have a shareholder who is convinced of the future potential of HCI Capital AG", says Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. Corsair Capital LLC has a sound knowledge of the funds sector for many years through different commitments within the market. Already at the beginning of 2007 the financial investor joined HCI by acquiring 10% of the share capital. Wolfgang Essing: "We welcome this transaction and are glad, with Corsair, to have a long-term oriented financial investor in our shareholder group."

At the same time Corsair Capital LLC and MPC Capital AG have revoked an agreement according to which they could, up to now, mutually assign the voting rights of their HCI shares. The new shareholder structure is as follows: (see illustration below)

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in the areas of shipping, real estate, private equity funds-of-funds, and the secondary life insurance market, as well as asset creation plans. Since that time, over 94,800 clients have invested a total of EUR 4.83 billion in 448 issues with a total investment volume of almost EUR 12.5 billion. That makes HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. Since December 19, 2005, HCI has been listed on the SDAX and since September 1, 2006, it has also been listed on the Hamburg regional index HASPAX.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

26.10.2007

Corsair takes over 10% block of shares from Christ Capital

"This financial commitment shows that, with Corsair, we have a shareholder who is convinced of the future potential of HCI Capital AG", says Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. Corsair Capital LLC has a sound knowledge of the funds sector for many years through different commitments within the market. Already at the beginning of 2007 the financial investor joined HCI by acquiring 10% of the share capital. Wolfgang Essing: "We welcome this transaction and are glad, with Corsair, to have a long-term oriented financial investor in our shareholder group."

At the same time Corsair Capital LLC and MPC Capital AG have revoked an agreement according to which they could, up to now, mutually assign the voting rights of their HCI shares. The new shareholder structure is as follows: (see illustration below)

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in the areas of shipping, real estate, private equity funds-of-funds, and the secondary life insurance market, as well as asset creation plans. Since that time, over 94,800 clients have invested a total of EUR 4.83 billion in 448 issues with a total investment volume of almost EUR 12.5 billion. That makes HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. Since December 19, 2005, HCI has been listed on the SDAX and since September 1, 2006, it has also been listed on the Hamburg regional index HASPAX.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

24.09.2007

HCI Market Launch of First Real Estate Fund of BRIC Countries

• Fund of Funds already invested in four opportunity funds at time of market entry
  
• Target funds invest in BRIC countries Brazil, Russia, India and China
  
• Townsend Group selects target funds

"The BRIC countries have been on a steady growth course for years now with high GDP growth rates ranging between four and close to 10 percent. This, in turn, has triggered a great demand for all types of real estate," explained Oliver Georg, managing director, HCI Immobilien Consult GmbH. According to a Goldman Sachs survey the growth course of the four BRIC countries will continue in the coming years and might even exceed the G6 countries in terms of GDP. Oliver Georg noted: "Now, for the first time, with this new fund German investors can participate in the development of these four countries simultaneously." The four target funds differ in investment location, investment strategy, real estate category and management approach, thus ensuring a broad spreading of risk.

The HCI Real Estate BRIC+ fund totals approximately USD 45.4 million in initial investment volume. As opposed to the target fund level where borrowed capital may be used this will not be the case for the fund of funds level. Minimum investment amounts to USD 15,000 plus five percent premium with dividend distribution planned within three to four years' time and an intended internal rate of return of 10 percent.

About Townsend

Townsend was founded in 1983 and manages an equity-capital volume of USD 80 billion. The company employs a staff of 38 and has its own research teams for North and Latin America as well as for Asia and Europe. In direct comparison to the standard NCREIF (National Council of Real Estate Investment Fiduciaries) Property Index, Townsend investment recommendations have always been up front. The NCREIF is the U.S. association of institutional real estate professionals.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 94,800 clients have invested EUR 4.83 billion in 448 issues, with an investment volume totalling more than EUR 12.5 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Holger Friedrichs
Dr. Zitelmann PB. GmbH
Head of Media & Communications
Tel.: +49 30 726276 157
friedrichs@zitelmann.com

24.09.2007

HCI Market Launch of First Real Estate Fund of BRIC Countries

• Fund of Funds already invested in four opportunity funds at time of market entry
  
• Target funds invest in BRIC countries Brazil, Russia, India and China
  
• Townsend Group selects target funds

"The BRIC countries have been on a steady growth course for years now with high GDP growth rates ranging between four and close to 10 percent. This, in turn, has triggered a great demand for all types of real estate," explained Oliver Georg, managing director, HCI Immobilien Consult GmbH. According to a Goldman Sachs survey the growth course of the four BRIC countries will continue in the coming years and might even exceed the G6 countries in terms of GDP. Oliver Georg noted: "Now, for the first time, with this new fund German investors can participate in the development of these four countries simultaneously." The four target funds differ in investment location, investment strategy, real estate category and management approach, thus ensuring a broad spreading of risk.

The HCI Real Estate BRIC+ fund totals approximately USD 45.4 million in initial investment volume. As opposed to the target fund level where borrowed capital may be used this will not be the case for the fund of funds level. Minimum investment amounts to USD 15,000 plus five percent premium with dividend distribution planned within three to four years' time and an intended internal rate of return of 10 percent.

About Townsend

Townsend was founded in 1983 and manages an equity-capital volume of USD 80 billion. The company employs a staff of 38 and has its own research teams for North and Latin America as well as for Asia and Europe. In direct comparison to the standard NCREIF (National Council of Real Estate Investment Fiduciaries) Property Index, Townsend investment recommendations have always been up front. The NCREIF is the U.S. association of institutional real estate professionals.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 94,800 clients have invested EUR 4.83 billion in 448 issues, with an investment volume totalling more than EUR 12.5 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Holger Friedrichs
Dr. Zitelmann PB. GmbH
Head of Media & Communications
Tel.: +49 30 726276 157
friedrichs@zitelmann.com

19.09.2007

New Chief Product Officer at HCI Capital AG

• Dr. Oliver Moosmayer to assume responsibility for Product Development
  
• Expansion of activities outside of shipping being pushed

Dr. Ralf Friedrichs joined HCI Hanseatische Schiffstreuhand GmbH as a tax advisor in 2001 and was appointed as its general manager in 2003. Since HCI Capital AG was taken public in October 2005, he has been a member of its Management Board, where he is responsible for Product Development. "His proven expertise in putting together participations in ship ownership has solidified HCI's market leadership at a time of growing competition," says Udo Bandow, Chairman of the company's Supervisory Board, adding that by developing new business areas Dr. Friedrichs had made a major contribution to getting HCI ready to go public.

"Under Dr. Moosmayer's new leadership of Product Development, HCI Capital AG will proceed further along the path that has already been taken toward diversification," continues Bandow. Moosmayer came to HCI Group in 2000 from Hamburger Sparkasse and initially headed Marketing and Product Development. In 2003 he became the general manager of the new company HSC Hanseatische Sachwert Concept GmbH in order to develop high-quality, innovative product concepts that HCI could offer to new investor groups. These include closed-end funds for secondary market life insurance with German, British, and American policies and asset creation plans. This year HSC introduced structured products in the shipping asset class in the form of a capital protected shipping fund and a cargo rate certificate. The continuous expansion of asset classes and packaging them for individual target groups is one of the core elements of the strategy followed by HCI Capital AG.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in the areas of shipping, real estate, private equity funds-of-funds, and the secondary life insurance market, as well as asset creation plans. Since that time, over 94,800 clients have invested a total of EUR 4.83 billion in 448 issues with a total investment volume of almost EUR 12.5 billion. That makes HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. Since December 19, 2005, HCI has been listed on the SDAX and since September 1, 2006, it has also been listed on the Hamburg regional index HASPAX.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Phone: +49 69 944 180 61
josef.schiessl@newmark.de

19.09.2007

New Chief Product Officer at HCI Capital AG

• Dr. Oliver Moosmayer to assume responsibility for Product Development
  
• Expansion of activities outside of shipping being pushed

Dr. Ralf Friedrichs joined HCI Hanseatische Schiffstreuhand GmbH as a tax advisor in 2001 and was appointed as its general manager in 2003. Since HCI Capital AG was taken public in October 2005, he has been a member of its Management Board, where he is responsible for Product Development. "His proven expertise in putting together participations in ship ownership has solidified HCI's market leadership at a time of growing competition," says Udo Bandow, Chairman of the company's Supervisory Board, adding that by developing new business areas Dr. Friedrichs had made a major contribution to getting HCI ready to go public.

"Under Dr. Moosmayer's new leadership of Product Development, HCI Capital AG will proceed further along the path that has already been taken toward diversification," continues Bandow. Moosmayer came to HCI Group in 2000 from Hamburger Sparkasse and initially headed Marketing and Product Development. In 2003 he became the general manager of the new company HSC Hanseatische Sachwert Concept GmbH in order to develop high-quality, innovative product concepts that HCI could offer to new investor groups. These include closed-end funds for secondary market life insurance with German, British, and American policies and asset creation plans. This year HSC introduced structured products in the shipping asset class in the form of a capital protected shipping fund and a cargo rate certificate. The continuous expansion of asset classes and packaging them for individual target groups is one of the core elements of the strategy followed by HCI Capital AG.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in the areas of shipping, real estate, private equity funds-of-funds, and the secondary life insurance market, as well as asset creation plans. Since that time, over 94,800 clients have invested a total of EUR 4.83 billion in 448 issues with a total investment volume of almost EUR 12.5 billion. That makes HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. Since December 19, 2005, HCI has been listed on the SDAX and since September 1, 2006, it has also been listed on the Hamburg regional index HASPAX.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Phone: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
NewMark Finanzkommunikation GmbH
Managing Partner
Phone: +49 69 944 180 61
josef.schiessl@newmark.de

14.08.2007

HCI Capital AG Raises 2007 Earnings Forecast to EUR 35 Million

• Fund sales increase by 12 percent
  
• Revenue up nearly five percent
  
• Strong demand for ship investment funds continues

Second Quarterly Report for the Period Ended June 30, 2007

The consolidated net profit for the period under review totalled EUR 19.0 million, a 20.2-percent drop against the previous year's results. This development was expected and is due largely to the unusually high effect caused by the intermediary trading of six container ships last year. Consequently, HCI Capital AG's earnings before interest and taxes (EBIT) also dropped during the first two quarters by 29.4 percent to EUR 22.6 million and earnings before taxes (EBT) by 29.0 percent to EUR 24.4 million. Harald Christ, Chairman of HCI, commented: "We are satisfied with the company's business development during the first two quarters. We are on the right path and anticipate a steady rise in demand for the last two quarters."

In addition to the highly satisfactory placement development for ship investment funds, the HCI Group expects positive impulses in the real estate segment. Business picked up considerably during the second quarter, and a number of innovative real estate products are scheduled for launch during the latter half of the year. In September, for example, an opportunity fund of funds will be placed, investing primarily in Brazil, Russia, India and China. Sales in the real estate segment totalled just under EUR 36 million during the first two quarters a 16-percent decline against last year's volume for the same period.

Products in the secondary life insurance market segment dropped by EUR 10.8 million against last year's results for the same period, generating a volume of EUR 62.5 million. The sales volume for private equity funds of funds also developed weakly and was down by approximately 63 percent against last year's results, totalling EUR 8.6 million for the first two quarters of 2007.

With the formation of HCI Hammonia Shipping AG during the second quarter of 2007, the HCI Group has focused more business activities towards institutional investors, including a customized product in the container shipping market in addition to real estate investment offers. Management Board chairman Harald Christ: "In the past few months, Wolfgang Essing and I have worked closely with the other executive directors to initiate developments geared towards the group's future." Executive Director of Sales & Marketing Wolfgang Essing added: "The formation of HCI Hammonia Shipping AG and the announcement of a joint financing project with MPC Capital AG for an oil platform for exploratory drilling as of 2008 are clear evidence that our company is ready to meet the changing needs and future challenges of the market by introducing new growth perspectives for our shareholders." So that shareholders may benefit from this positive development, the Management Board has already confirmed its shareholder-oriented dividend policy for the current year, undoubtedly making HCI stock one of the most attractive securities in the market for 2008.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 94,800 clients have invested EUR 4.8 billion in 448 issues, with an investment volume totalling more than EUR 12.5 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Martin Schwarz
HCI Capital AG
Investor Relations
Tel.: +49 40 88 88 1 126
martin.schwarz@hci-capital.de

14.08.2007

HCI Capital AG Raises 2007 Earnings Forecast to EUR 35 Million

• Fund sales increase by 12 percent
  
• Revenue up nearly five percent
  
• Strong demand for ship investment funds continues

Second Quarterly Report for the Period Ended June 30, 2007

The consolidated net profit for the period under review totalled EUR 19.0 million, a 20.2-percent drop against the previous year's results. This development was expected and is due largely to the unusually high effect caused by the intermediary trading of six container ships last year. Consequently, HCI Capital AG's earnings before interest and taxes (EBIT) also dropped during the first two quarters by 29.4 percent to EUR 22.6 million and earnings before taxes (EBT) by 29.0 percent to EUR 24.4 million. Harald Christ, Chairman of HCI, commented: "We are satisfied with the company's business development during the first two quarters. We are on the right path and anticipate a steady rise in demand for the last two quarters."

In addition to the highly satisfactory placement development for ship investment funds, the HCI Group expects positive impulses in the real estate segment. Business picked up considerably during the second quarter, and a number of innovative real estate products are scheduled for launch during the latter half of the year. In September, for example, an opportunity fund of funds will be placed, investing primarily in Brazil, Russia, India and China. Sales in the real estate segment totalled just under EUR 36 million during the first two quarters a 16-percent decline against last year's volume for the same period.

Products in the secondary life insurance market segment dropped by EUR 10.8 million against last year's results for the same period, generating a volume of EUR 62.5 million. The sales volume for private equity funds of funds also developed weakly and was down by approximately 63 percent against last year's results, totalling EUR 8.6 million for the first two quarters of 2007.

With the formation of HCI Hammonia Shipping AG during the second quarter of 2007, the HCI Group has focused more business activities towards institutional investors, including a customized product in the container shipping market in addition to real estate investment offers. Management Board chairman Harald Christ: "In the past few months, Wolfgang Essing and I have worked closely with the other executive directors to initiate developments geared towards the group's future." Executive Director of Sales & Marketing Wolfgang Essing added: "The formation of HCI Hammonia Shipping AG and the announcement of a joint financing project with MPC Capital AG for an oil platform for exploratory drilling as of 2008 are clear evidence that our company is ready to meet the changing needs and future challenges of the market by introducing new growth perspectives for our shareholders." So that shareholders may benefit from this positive development, the Management Board has already confirmed its shareholder-oriented dividend policy for the current year, undoubtedly making HCI stock one of the most attractive securities in the market for 2008.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 94,800 clients have invested EUR 4.8 billion in 448 issues, with an investment volume totalling more than EUR 12.5 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Martin Schwarz
HCI Capital AG
Investor Relations
Tel.: +49 40 88 88 1 126
martin.schwarz@hci-capital.de

16.07.2007

HCI Hammonia Shipping AG

• HCI HAMMONIA SHIPPING AG opens container shipping market to institutional investors
  
• HSH Nordbank and HCI Capital AG planning to place up to EUR 250 million equity capital
  
• Company portfolio starting out with eight container ships

Opening the Container Shipping Market to Institutional Investors

The subscription period runs until latest October 30, 2007; product targets involve placing equity capital ranging from a minimum of EUR 75 million to EUR 250 million in retirement funds, insurances, foundations and banks in Germany as well as Austria. The stock is scheduled for regulated market listing on the Hanseatic Stock Exchange (Hanseatische Wertpapierbörse) in November of this year. Issue price of the stock will be EUR 1,100.00 per share.

In the past, the shipping business largely satisfied its immense need for equity capital in the international capital markets. The HSH Nordbank Corporate Finance, which is assisting with the structure of this project, estimates the accumulated issue volume of shipping IPOs at approximately USD 16.2 billion since 2004. By contrast, in Germany, ship financing was primarily the domain of private investors and based on a limited partnership model, totalling a volume of USD 11.4 billion. As Jens Burgemeister, managing director of HCI Hanseatische Schiffsconsult GmbH and board chairman of the HCI HAMMONIA SHIPPING AG explained, "HCI HAMMONIA SHIPPING AG is the first product we have ever launched that is tailored to the specific needs of institutional investors. This is an opportunity to access an entirely new target group and bundle the expertise from close to 400 issues in the retail market into one capital market structure." Just recently, in the autumn of 2006, HCI Capital AG began working as an asset manager for institutional property investors thanks to a joint venture with the major U.S. real estate investment company Behringer Harvard. Since then, the HCI Group has focused on expanding its business with institutional investors and generating recurring revenues from consultancy mandates.

The Portfolio Takes Off with Eight Ships

This issue is different in that, contrary to corporation structures currently listed on the stock exchange, it is already certain which ships HCI HAMMONIA SHIPPING AG will invest in from the very beginning. Six container ships with a transport capacity of 2,500 TEU have been ordered, one of which will be delivered during the fourth quarter 2007, and two ships with 3,100 TEU each which will go into operation this year. In order to compensate for fluctuating charter rates and cover possible service loss, they are integrated in an income pool set up by the renowned shipping company Peter Döhle Schiffahrts-KG. "An opportune acquisition, guaranteed operation from the beginning and a conservative assumption have enabled us to pay out a regular dividend of 6.5 percent on the principal including the public company's legal reserves," noted Dr. Karsten Liebing, managing director of Hammonia Reederei GmbH & Co. KG and chairman of HCI HAMMONIA SHIPPING AG, adding that "by setting it up as a public company investing in the individual ship partnerships we are also equipped to a great extent to pass on tonnage tax advantages to our investors."

The HSH Nordbank, providing competent support of this issue in joint collaboration with NordLB, believes shipping will continue to become increasingly important for the capital markets. During the next three years alone, shipyards have orders for newbuildings estimated at USD 300 billion. To date, all IPOs have registered a positive development.

The HCI HAMMONIA SHIPPING AG share will be issued at a price of EUR 1,100.00 and a minimum number of 500 shares offered for subscription by institutional investors on the market until latest October 30, 2007. Equity capital volume may be increased from a minimum EUR 75 million to EUR 250 million with placement results targeted at EUR 150 million. A regulated market listing on the Hamburg Stock Exchange guarantees daily fungibility.

About the HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

About the HSH Nordbank

The HSH Nordbank AG is a major commercial bank in Northern Europe with total assets amounting to EUR 200 billion. Corporate and private banking clients around the world are served by a staff of about 4,400 employees with a wide range of top-quality banking services. As a market leader for corporate clients in its core market Northern Europe HSH Nordbank AG is rooted in its home markets of Hamburg and Schleswig-Holstein, and is an acknowledged partner in the international capital markets. The bank operates on a global level with the main focus on transportation and real estate. The HSH Nordbank is a leading provider of financial services in the transport sector and is the world's largest provider of ship finance. In the real estate division, it ranks among Germany's foremost banks for real-estate services.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

16.07.2007

HCI Hammonia Shipping AG

• HCI HAMMONIA SHIPPING AG opens container shipping market to institutional investors
  
• HSH Nordbank and HCI Capital AG planning to place up to EUR 250 million equity capital
  
• Company portfolio starting out with eight container ships

Opening the Container Shipping Market to Institutional Investors

The subscription period runs until latest October 30, 2007; product targets involve placing equity capital ranging from a minimum of EUR 75 million to EUR 250 million in retirement funds, insurances, foundations and banks in Germany as well as Austria. The stock is scheduled for regulated market listing on the Hanseatic Stock Exchange (Hanseatische Wertpapierbörse) in November of this year. Issue price of the stock will be EUR 1,100.00 per share.

In the past, the shipping business largely satisfied its immense need for equity capital in the international capital markets. The HSH Nordbank Corporate Finance, which is assisting with the structure of this project, estimates the accumulated issue volume of shipping IPOs at approximately USD 16.2 billion since 2004. By contrast, in Germany, ship financing was primarily the domain of private investors and based on a limited partnership model, totalling a volume of USD 11.4 billion. As Jens Burgemeister, managing director of HCI Hanseatische Schiffsconsult GmbH and board chairman of the HCI HAMMONIA SHIPPING AG explained, "HCI HAMMONIA SHIPPING AG is the first product we have ever launched that is tailored to the specific needs of institutional investors. This is an opportunity to access an entirely new target group and bundle the expertise from close to 400 issues in the retail market into one capital market structure." Just recently, in the autumn of 2006, HCI Capital AG began working as an asset manager for institutional property investors thanks to a joint venture with the major U.S. real estate investment company Behringer Harvard. Since then, the HCI Group has focused on expanding its business with institutional investors and generating recurring revenues from consultancy mandates.

The Portfolio Takes Off with Eight Ships

This issue is different in that, contrary to corporation structures currently listed on the stock exchange, it is already certain which ships HCI HAMMONIA SHIPPING AG will invest in from the very beginning. Six container ships with a transport capacity of 2,500 TEU have been ordered, one of which will be delivered during the fourth quarter 2007, and two ships with 3,100 TEU each which will go into operation this year. In order to compensate for fluctuating charter rates and cover possible service loss, they are integrated in an income pool set up by the renowned shipping company Peter Döhle Schiffahrts-KG. "An opportune acquisition, guaranteed operation from the beginning and a conservative assumption have enabled us to pay out a regular dividend of 6.5 percent on the principal including the public company's legal reserves," noted Dr. Karsten Liebing, managing director of Hammonia Reederei GmbH & Co. KG and chairman of HCI HAMMONIA SHIPPING AG, adding that "by setting it up as a public company investing in the individual ship partnerships we are also equipped to a great extent to pass on tonnage tax advantages to our investors."

The HSH Nordbank, providing competent support of this issue in joint collaboration with NordLB, believes shipping will continue to become increasingly important for the capital markets. During the next three years alone, shipyards have orders for newbuildings estimated at USD 300 billion. To date, all IPOs have registered a positive development.

The HCI HAMMONIA SHIPPING AG share will be issued at a price of EUR 1,100.00 and a minimum number of 500 shares offered for subscription by institutional investors on the market until latest October 30, 2007. Equity capital volume may be increased from a minimum EUR 75 million to EUR 250 million with placement results targeted at EUR 150 million. A regulated market listing on the Hamburg Stock Exchange guarantees daily fungibility.

About the HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

About the HSH Nordbank

The HSH Nordbank AG is a major commercial bank in Northern Europe with total assets amounting to EUR 200 billion. Corporate and private banking clients around the world are served by a staff of about 4,400 employees with a wide range of top-quality banking services. As a market leader for corporate clients in its core market Northern Europe HSH Nordbank AG is rooted in its home markets of Hamburg and Schleswig-Holstein, and is an acknowledged partner in the international capital markets. The bank operates on a global level with the main focus on transportation and real estate. The HSH Nordbank is a leading provider of financial services in the transport sector and is the world's largest provider of ship finance. In the real estate division, it ranks among Germany's foremost banks for real-estate services.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

12.07.2007

Premiere in the Market for Closed-End Funds

• HCI Capital AG and MPC Capital AG check new dimension in projection of closed-end investment models
  
• Partnership financing of material assets enables considerably larger project volumes
  
• Market segment oil platform: development of new asset class with high financing needs and attractive return potential

Partnership Financing Enables Major Projects

HCI Capital AG and MPC Capital AG are initiating a pilot project for the sale of an oil platform focusing on exploratory drilling. Both issuing houses intend to issue funds simultaneously, both of which serve to finance the same material asset. The providers see a special opportunity in the implementation of major projects in the future, which until now were not possible due to the large investment volume involved. Possible projects for example would be infrastructure funds and public private partnerships. "The collaboration of two competing companies on joint major projects is a common and very effective method used in the financial market. We have simply transposed it to the market for closed-end funds," commented Boris Boldyreff, Executive Director Sales at MPC Capital.

"The feasibility of a joint sale was thoroughly examined during the past weeks and necessary conditions determined. With this project, the market for closed-end funds is opening up a whole new dimension in project financing. We are certain that this approach will be copied, as this type of collaboration has already proved its value," Wolfgang Essing, designated Chairman of the Management Board of HCI Capital AG noted. The project is scheduled for launch in January 2008. Given the rising demand for oil and gas and the increasingly exacting exploratory and extraction methods, both companies foresee a growing demand in this area.

The investment volume of the planned oil platform for exploratory drilling will amount to approximately USD 580 million. More detailed information on this fund will be available at the beginning of the last quarter 2007.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

12.07.2007

Premiere in the Market for Closed-End Funds

• HCI Capital AG and MPC Capital AG check new dimension in projection of closed-end investment models
  
• Partnership financing of material assets enables considerably larger project volumes
  
• Market segment oil platform: development of new asset class with high financing needs and attractive return potential

Partnership Financing Enables Major Projects

HCI Capital AG and MPC Capital AG are initiating a pilot project for the sale of an oil platform focusing on exploratory drilling. Both issuing houses intend to issue funds simultaneously, both of which serve to finance the same material asset. The providers see a special opportunity in the implementation of major projects in the future, which until now were not possible due to the large investment volume involved. Possible projects for example would be infrastructure funds and public private partnerships. "The collaboration of two competing companies on joint major projects is a common and very effective method used in the financial market. We have simply transposed it to the market for closed-end funds," commented Boris Boldyreff, Executive Director Sales at MPC Capital.

"The feasibility of a joint sale was thoroughly examined during the past weeks and necessary conditions determined. With this project, the market for closed-end funds is opening up a whole new dimension in project financing. We are certain that this approach will be copied, as this type of collaboration has already proved its value," Wolfgang Essing, designated Chairman of the Management Board of HCI Capital AG noted. The project is scheduled for launch in January 2008. Given the rising demand for oil and gas and the increasingly exacting exploratory and extraction methods, both companies foresee a growing demand in this area.

The investment volume of the planned oil platform for exploratory drilling will amount to approximately USD 580 million. More detailed information on this fund will be available at the beginning of the last quarter 2007.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Managing Partner
Tel.: +49 69 944 180 61
josef.schiessl@newmark.de

29.06.2007

Change in Management Board at HCI Capital AG

Wolfgang Essing new chairman - Harald Christ to take on new tasks outside HCI

The current chairman of the Management Board, Harald Christ (35), is giving up his position at HCI Capital AG on September 30, 2007 to take on a new executive position with a German banking group. Mr. Christ announced to the company that he intends to remain a large shareholder.

Wolfgang Essing, who joined HCI in early 2007 and is reputed as an accomplished sales expert and strategist, will take over Mr. Christ's areas of responsibility, Corporate Planning and Management, Business Development, Corporate Communication and Personnel. Essing brings to HCI many years of extensive experience in several areas at executive level from MLP AG and in his position as a managing partner with zeb/rolfes.schierenbeck-associates, a specialized consulting company for financial-services providers and sales organizations.

Chairman of the Management Board Harald Christ stated: "During the past few months, Wolfgang Essing and I worked closely together with the other board members restructuring the sales division and further optimizing interaction between the divisions for product conception, sales and trust management. Wolfgang Essing will continue to set new impulses for HCI and the company's positive business development in joint cooperation with Dr. Ralf Friedrichs, Director Product Division, After Sales, Taxes & Accounting, and Dr. Rolando Gennari (CFO)."

The Chairman of the Supervisory Board of HCI Capital AG, Udo Bandow, thanked Harald Christ: "You have done an excellent job in boosting the company's performance." Furthermore, Bandow noted that during the past five years Christ has made the company a market leader and one of the most successful in the business. Through the development of new business areas and markets, the IPO and the achievement of continuously high results and profits Harald Christ created a foundation for the company's successful future.

Christ left his executive position with Deutsche Bank AG in 2002 to become the executive manager of HCI GmbH in 2002. When, in 2005, the company was transformed into a public company, Christ became the chairman of the Management Board and, in addition, he managed such operating divisions as Sales for example. During this brief period, HCI Capital AG increased its annual equity capital volume from EUR 194 million (as per 12/2002) to EUR 640.5 million (12/2006) and earnings after taxes from EUR 7.8 million to EUR 39.5 million. HCI Capital AG announced its best annual results at yearend 2006 in the company's history. The company went public in 2005.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Geschäftsführender Partner
Tel.: +49 69 944 180 61
Josef.schiessl@newmark.de

29.06.2007

Change in Management Board at HCI Capital AG

Wolfgang Essing new chairman - Harald Christ to take on new tasks outside HCI

The current chairman of the Management Board, Harald Christ (35), is giving up his position at HCI Capital AG on September 30, 2007 to take on a new executive position with a German banking group. Mr. Christ announced to the company that he intends to remain a large shareholder.

Wolfgang Essing, who joined HCI in early 2007 and is reputed as an accomplished sales expert and strategist, will take over Mr. Christ's areas of responsibility, Corporate Planning and Management, Business Development, Corporate Communication and Personnel. Essing brings to HCI many years of extensive experience in several areas at executive level from MLP AG and in his position as a managing partner with zeb/rolfes.schierenbeck-associates, a specialized consulting company for financial-services providers and sales organizations.

Chairman of the Management Board Harald Christ stated: "During the past few months, Wolfgang Essing and I worked closely together with the other board members restructuring the sales division and further optimizing interaction between the divisions for product conception, sales and trust management. Wolfgang Essing will continue to set new impulses for HCI and the company's positive business development in joint cooperation with Dr. Ralf Friedrichs, Director Product Division, After Sales, Taxes & Accounting, and Dr. Rolando Gennari (CFO)."

The Chairman of the Supervisory Board of HCI Capital AG, Udo Bandow, thanked Harald Christ: "You have done an excellent job in boosting the company's performance." Furthermore, Bandow noted that during the past five years Christ has made the company a market leader and one of the most successful in the business. Through the development of new business areas and markets, the IPO and the achievement of continuously high results and profits Harald Christ created a foundation for the company's successful future.

Christ left his executive position with Deutsche Bank AG in 2002 to become the executive manager of HCI GmbH in 2002. When, in 2005, the company was transformed into a public company, Christ became the chairman of the Management Board and, in addition, he managed such operating divisions as Sales for example. During this brief period, HCI Capital AG increased its annual equity capital volume from EUR 194 million (as per 12/2002) to EUR 640.5 million (12/2006) and earnings after taxes from EUR 7.8 million to EUR 39.5 million. HCI Capital AG announced its best annual results at yearend 2006 in the company's history. The company went public in 2005.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds and structured products in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel.: +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Josef Schießl
Newmark Finanzkommunikation GmbH
Geschäftsführender Partner
Tel.: +49 69 944 180 61
Josef.schiessl@newmark.de

22.05.2007

Record Distribution for HCI Ship Fund Investors

• Ship fund market leader plans EUR 230 million dividend payout
  
• Outperforms 2006 forecast considerably
  
• Survey: HCI ship portfolio above market average
  
• Sound concept is crucial

HCI Capital AG intends to pay out an estimated EUR 230 million in dividends to ship fund investors in 2007, thereby exceeding the forecast of approximately EUR 216 million by close to 6.5 percent. In determining the dividend payout, HCI is basing calculations on a current EUR/USD exchange rate and continued trouble-free shipping operations. Dr. Ralf Friedrichs, Executive Manager of HCI Capital AG Product Divisions, views the HCI Group's long-standing experience in the market as the major reason for this good performance. "With 112 previously completed HCI ship funds we have generated an asset increase of 5.5 percent annually based on an average period of eight-and-a-half years. This excellent track record is proof of the fact that HCI offers investors worthwhile ship investments - now and in the future."

Performance of HCI ships well above market average

With 247 current emissions and a present investment volume totalling EUR 10.2 billion, HCI is the market leader in the closed-end ship funds product segment (1st quarter 2007 figures). A recently published survey by the Hamburg-based analyst FondsMedia established HCI's excellent knowledge and expertise in the ship fund category and confirmed that the performance of current and historic HCI ship funds is well above the market on average. Overall performance was determined on the basis of redemption, dividend payout and liquidity reserves of the 238 funds included in the survey. The return on equity was calculated by comparing the predicted and actual values of the ship funds. An average 13.8-percent return on equity (based on invested capital) was planned for the entire HCI ship portfolio, however, an actual performance of 14.1 percent exceeded this target figure. The more recent HCI ship fund issues (as of 1998) even document an average 17.4-percent return on equity, equivalent to a relative increase of approximately 18 percent compared to the forecast estimates quoted. For the current HCI ship portfolio expenditures totalling EUR 2.65 billion were budgeted, however, they amounted to EUR 2.32 billion only, thus falling below the budget estimate by 12.2 percent and corresponding to a savings of EUR 322 million for the investors. In closing Friedrichs noted, "These figures show that our funds are calculated very carefully."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel. +49 (0) 40 88 88 1 236
ingo.pfeil@hci-capital.de

Christina Hoke
NewMark Finanzkommunikation GmbH
Corporate Communications
Tel. +49 (0) 69 94 41 80 53
christina.hoke@newmark.de

22.05.2007

Record Distribution for HCI Ship Fund Investors

• Ship fund market leader plans EUR 230 million dividend payout
  
• Outperforms 2006 forecast considerably
  
• Survey: HCI ship portfolio above market average
  
• Sound concept is crucial

HCI Capital AG intends to pay out an estimated EUR 230 million in dividends to ship fund investors in 2007, thereby exceeding the forecast of approximately EUR 216 million by close to 6.5 percent. In determining the dividend payout, HCI is basing calculations on a current EUR/USD exchange rate and continued trouble-free shipping operations. Dr. Ralf Friedrichs, Executive Manager of HCI Capital AG Product Divisions, views the HCI Group's long-standing experience in the market as the major reason for this good performance. "With 112 previously completed HCI ship funds we have generated an asset increase of 5.5 percent annually based on an average period of eight-and-a-half years. This excellent track record is proof of the fact that HCI offers investors worthwhile ship investments - now and in the future."

Performance of HCI ships well above market average

With 247 current emissions and a present investment volume totalling EUR 10.2 billion, HCI is the market leader in the closed-end ship funds product segment (1st quarter 2007 figures). A recently published survey by the Hamburg-based analyst FondsMedia established HCI's excellent knowledge and expertise in the ship fund category and confirmed that the performance of current and historic HCI ship funds is well above the market on average. Overall performance was determined on the basis of redemption, dividend payout and liquidity reserves of the 238 funds included in the survey. The return on equity was calculated by comparing the predicted and actual values of the ship funds. An average 13.8-percent return on equity (based on invested capital) was planned for the entire HCI ship portfolio, however, an actual performance of 14.1 percent exceeded this target figure. The more recent HCI ship fund issues (as of 1998) even document an average 17.4-percent return on equity, equivalent to a relative increase of approximately 18 percent compared to the forecast estimates quoted. For the current HCI ship portfolio expenditures totalling EUR 2.65 billion were budgeted, however, they amounted to EUR 2.32 billion only, thus falling below the budget estimate by 12.2 percent and corresponding to a savings of EUR 322 million for the investors. In closing Friedrichs noted, "These figures show that our funds are calculated very carefully."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel. +49 (0) 40 88 88 1 236
ingo.pfeil@hci-capital.de

Christina Hoke
NewMark Finanzkommunikation GmbH
Corporate Communications
Tel. +49 (0) 69 94 41 80 53
christina.hoke@newmark.de

09.05.2007

HCI Capital AG - EUR 1.40 Dividend Approved at AGM

• Dividend yield 7.8 percent based on XETRA closing price of EUR 17.90
  on May 9, 2007
  
• Karl Gernandt and Alexander Stuhlmann new on Supervisory Board
  
• 56.88 percent attendance of capital stockholders

In his opening speech, Harald Christ stressed the importance of the financial year ended December 31, 2006 for HCI, during which the company continued its diversification strategy, purchasing 25 percent plus one share of the financial-services provider Aragon and creating an autonomous executive division for Marketing & Sales. As Christ pointed out, both steps are significant for promoting structured growth. He also stressed the increasing importance of recurring revenues, such as management and trust fees, for HCI's operating result, as earnings are rendered less dependent on day trading, making them more stable and calculable for the shareholder. Christ also thanked the 680 shareholders who attended the AGM for their support and interest in HCI. With 56.88 percent of all common shares in attendance, 99.99 percent voted in favor of the dividend proposal, with 99.95 percent and 99.96 percent respectively voting to grant discharge to the members of the Management Board and Supervisory Board.

The shareholders gave a majority vote for the new members of the HCI Capital AG Supervisory Board, Karl Gernandt (99.85 percent) and Alexander Stuhlmann (99.76 percent). Mr. Gernandt is the Chairman of the Board of Holcim (Deutschland) AG, a subsidiary of the Holcim Group, global suppliers of construction materials and construction-related services. Stuhlmann served for many years as Chairman of the Board of HSH Nordbank, the leading ship financier worldwide and long-standing business associate of HCI Capital AG. Prof. Dr. Georg Crezelius and Rolf Hunck, acting members of the Supervisory Board to date, stepped down from office. Udo Bandow, Chairman of the Supervisory Board, thanked both gentlemen for their commitment and wished the two new members good fortune and success for their new tasks.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel. + 49 (0) 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
NewMark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel. + 49 (0) 69 94 41 80 69
thomas.luber@newmark.de

09.05.2007

HCI Capital AG - EUR 1.40 Dividend Approved at AGM

• Dividend yield 7.8 percent based on XETRA closing price of EUR 17.90
  on May 9, 2007
  
• Karl Gernandt and Alexander Stuhlmann new on Supervisory Board
  
• 56.88 percent attendance of capital stockholders

In his opening speech, Harald Christ stressed the importance of the financial year ended December 31, 2006 for HCI, during which the company continued its diversification strategy, purchasing 25 percent plus one share of the financial-services provider Aragon and creating an autonomous executive division for Marketing & Sales. As Christ pointed out, both steps are significant for promoting structured growth. He also stressed the increasing importance of recurring revenues, such as management and trust fees, for HCI's operating result, as earnings are rendered less dependent on day trading, making them more stable and calculable for the shareholder. Christ also thanked the 680 shareholders who attended the AGM for their support and interest in HCI. With 56.88 percent of all common shares in attendance, 99.99 percent voted in favor of the dividend proposal, with 99.95 percent and 99.96 percent respectively voting to grant discharge to the members of the Management Board and Supervisory Board.

The shareholders gave a majority vote for the new members of the HCI Capital AG Supervisory Board, Karl Gernandt (99.85 percent) and Alexander Stuhlmann (99.76 percent). Mr. Gernandt is the Chairman of the Board of Holcim (Deutschland) AG, a subsidiary of the Holcim Group, global suppliers of construction materials and construction-related services. Stuhlmann served for many years as Chairman of the Board of HSH Nordbank, the leading ship financier worldwide and long-standing business associate of HCI Capital AG. Prof. Dr. Georg Crezelius and Rolf Hunck, acting members of the Supervisory Board to date, stepped down from office. Udo Bandow, Chairman of the Supervisory Board, thanked both gentlemen for their commitment and wished the two new members good fortune and success for their new tasks.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 92,100 clients have invested EUR 4.68 billion in 445 issues, with an investment volume totalling more than EUR 12.21 billion, making HCI one of the leading financial-services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel. + 49 (0) 40 88 88 1 236
ingo.pfeil@hci-capital.de

Thomas Luber
NewMark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel. + 49 (0) 69 94 41 80 69
thomas.luber@newmark.de

08.05.2007

HCI Capital AG Increases Surplus by 31.7 Percent

• Fund sales up by 14.9 percent over first quarter 2006
  
• Ship funds in high demand
  
• Annual forecast reasserted

HCI Capital AG earnings before interest and taxes (EBIT) rose by 15.7 percent to EUR 12.2 million, and earnings before taxes (EBT) by 7.8 percent to EUR 12.9 million during the first quarter of the current financial year. The approximate EUR 9.9 million surplus generated for the first quarter 2007 was also influenced by other operating income from intermediary trade with ships and real estate, and a reduced tax ratio resulting in part from the divestiture of a tax provision.

Fund sales in the ship segment developed above average with placed equity capital rising by 54.1 percent to EUR 77.6 million. The sale of products in the secondary life insurance market developed very well, accounting for 10.1 percent in growth. Real estate fund sales failed to meet expectations, dropping 40.3 percent to EUR 12.3 million, a decline corresponding in essence to the current market development. Private equity fund of funds sales also dropped from EUR 8.2 million to EUR 3.0 million, however, with new products in its range of offers, the company is counting on increased sales during the coming quarters.

Harald Christ, Chairman of the Management Board, stated: "We are very satisfied with our first-quarter development. During the course of the financial year we plan to shift our focus to the product categories real estate, private equity funds of funds, structured products and secondary life insurance funds, and to introduce a whole range of innovative concepts this year. For example, we plan on offering institutional investors ship investments listed on the stock exchange and expanding our offer of structured products. And we are counting on generating an annual surplus of EUR 31 million for the financial year 2007."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

08.05.2007

HCI Capital AG Increases Surplus by 31.7 Percent

• Fund sales up by 14.9 percent over first quarter 2006
  
• Ship funds in high demand
  
• Annual forecast reasserted

HCI Capital AG earnings before interest and taxes (EBIT) rose by 15.7 percent to EUR 12.2 million, and earnings before taxes (EBT) by 7.8 percent to EUR 12.9 million during the first quarter of the current financial year. The approximate EUR 9.9 million surplus generated for the first quarter 2007 was also influenced by other operating income from intermediary trade with ships and real estate, and a reduced tax ratio resulting in part from the divestiture of a tax provision.

Fund sales in the ship segment developed above average with placed equity capital rising by 54.1 percent to EUR 77.6 million. The sale of products in the secondary life insurance market developed very well, accounting for 10.1 percent in growth. Real estate fund sales failed to meet expectations, dropping 40.3 percent to EUR 12.3 million, a decline corresponding in essence to the current market development. Private equity fund of funds sales also dropped from EUR 8.2 million to EUR 3.0 million, however, with new products in its range of offers, the company is counting on increased sales during the coming quarters.

Harald Christ, Chairman of the Management Board, stated: "We are very satisfied with our first-quarter development. During the course of the financial year we plan to shift our focus to the product categories real estate, private equity funds of funds, structured products and secondary life insurance funds, and to introduce a whole range of innovative concepts this year. For example, we plan on offering institutional investors ship investments listed on the stock exchange and expanding our offer of structured products. And we are counting on generating an annual surplus of EUR 31 million for the financial year 2007."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

07.05.2007

HCI Capital AG - Change in Financial Communication

Dr. Olaf Streuer New Manager Investor Relations

Dr. Olaf Streuer, currently Manager of Corporate Communication for the Hamburg-based Deutsche Genossenschafts-Hypothekenbank AG, has many years of experience in financial-market communications, due in part to his position as Investor Relations Managers with the IKB Deutsche Industriebank AG. Streuer, 40 years old, received his university degree in Economics and Organization in Hamburg and his Ph.D at the Universität der Bundeswehr (Federal Armed Forces University). Dr. Rolando Gennari, CFO of HCI Capital AG: "We are pleased to have such an experienced man continuing our successful activities in the financial market, a person who will also be able to focus on new priorities."

Oliver Heitmann, the present Investor Relations Manager of the HCI Group, will be leaving the company as of July 1, 2007 to take on a new and challenging position in the private equity sector. As Dr. Rolando Gennari noted, "Mr. Heitmann was most successful in developing the HCI Group Investor Relations division. We wish him every success for his professional future."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

07.05.2007

HCI Capital AG - Change in Financial Communication

Dr. Olaf Streuer New Manager Investor Relations

Dr. Olaf Streuer, currently Manager of Corporate Communication for the Hamburg-based Deutsche Genossenschafts-Hypothekenbank AG, has many years of experience in financial-market communications, due in part to his position as Investor Relations Managers with the IKB Deutsche Industriebank AG. Streuer, 40 years old, received his university degree in Economics and Organization in Hamburg and his Ph.D at the Universität der Bundeswehr (Federal Armed Forces University). Dr. Rolando Gennari, CFO of HCI Capital AG: "We are pleased to have such an experienced man continuing our successful activities in the financial market, a person who will also be able to focus on new priorities."

Oliver Heitmann, the present Investor Relations Manager of the HCI Group, will be leaving the company as of July 1, 2007 to take on a new and challenging position in the private equity sector. As Dr. Rolando Gennari noted, "Mr. Heitmann was most successful in developing the HCI Group Investor Relations division. We wish him every success for his professional future."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

07.03.2007

HCI Capital AG: Business Model Successfully Expanded in 2006; Record Results Achieved

• Profit base solidified through increase in recurring revenues
  
• Investment in Aragon AG expands sales base and unlocks profit potential
  
• Business with institutional investors expanded
  
• Proposed dividend of EUR 1.40 confirmed

The financial statements approved by the Supervisory Board show that consolidated net income for fiscal 2006 reached a record high of EUR 39.5 million, which is EUR 0.2 million higher than the preliminary figures. EBIT stood at EUR 51.2 million, and revenues at EUR 145.6 million. The number of employees increased from an average of 202 to 238.

Placed equity capital during the past fiscal year reached EUR 640.5 million, as compared with EUR 647.7 million in the previous year. Of this amount, HCI invested 40% in real estate funds, private equity funds of funds and the secondary life insurance market, twice as much as in 2005. The percentage of placed equity capital represented by ship funds thus decreased from 80% to 60%. In the current fiscal year, ship funds will constitute around 50% of placed equity capital. "This enabled us to reduce even further our dependence on a single class of assets," said CEO Christ. The way our business developed in private equity funds of funds and real estate investment products was particularly gratifying. In both segments, sales increased by more than 100%.

Harald Christ sees this development as another confirmation that HCI is well prepared to face the upheaval in the market for closed-end funds: "The industry is on the move," said Christ. Private investors are demanding tailor-made solutions, sales via independent investment advisors have become increasingly important and shareholders like the idea of stable earnings from a variety of sources. Says Christ: "Just as our stock exchange listing ensures the transparency demanded by regulators, our broad product range is the answer to the changing demands of our shareholders and fund investors."

Business Model Expanded to Include Asset Management Services

Having identified the need to diversify its sources of earnings, HCI Capital AG has increasingly moved its business model away from sales of its own products. By 2006, recurring revenues from management of clients' money and consulting services to third parties increased by 15.4% to EUR 30 million. The recurring revenues now account for 20.6% of the group's total income. According to Chief Financial Officer Dr. Rolando Gennari: "HCI got an early start on diversifying its earnings. Recurring revenues represent a higher proportion of total income at HCI than at any other company in our industry. More and more, we are becoming asset managers. Recurring revenued will increase even more in the coming years and will further solidify our earnings base."

The Company has also made significant progress with institutional investors. For example, during the past year HCI entered into a joint venture with American real estate investor Behringer Harvard, HCI's first institutional partner, which expects to invest more than EUR 1 billion in Europe in the next three years. HCI's role in the partnership will be to identify, purchase, optimize and manage the properties, for which it will receive an ongoing management fee. As a next step with institutional investors, HCI plans to start marketing its own ship fund for institutional investors in the current year. This fund is to be listed on the Hamburg Stock Exchange and will offer investors a high degree of flexibility.

Interest in Sales Platform Aragon AG Opens New Opportunities

In the intense competition for limited sales capacities, HCI scored a significant success during the past year. By acquiring 25% plus one share of financial sales group Aragon AG, HCI not only expanded its base of independent sales partners, but also tapped new earnings potential for its own shareholders. CEO Harald Christ puts it this way: "For many years we have benefited from the strength of independent financial sales groups because of their flexibility and knowledge of their clientele and were the first to see their growing significance for success in the market. By investing in the Aragon Group we will directly benefit from the success of the fastest growing pool of brokers in Germany and their partners. This will allow us to help shape the growth of financial sales in Germany." This will be particularly important as the market changes in coming years with additional regulatory requirements and new products.

Effective January 1, 2007, Wolfgang Essing was appointed to head up a new area of responsibility, "Sales and Marketing." HCI's goal is to respond more closely to the specific needs of the three main groups of financial institutions in Germany (large private banks, savings banks and Landesbanks, Volksbanks and Raiffeisenbanks) and to further strengthen the leading position it has already established. To assist in this regard, around 40 new sales employees were hired during the past year.

Harald Christ: "With its new strategic orientation, HCI is anticipating the coming changes in the market and gearing up for increasing competition." The CEO expects net income of EUR 31 million and revenues of EUR 150 million for 2007, with placed equity capital of approximately EUR 700 million.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

07.03.2007

HCI Capital AG: Business Model Successfully Expanded in 2006; Record Results Achieved

• Profit base solidified through increase in recurring revenues
  
• Investment in Aragon AG expands sales base and unlocks profit potential
  
• Business with institutional investors expanded
  
• Proposed dividend of EUR 1.40 confirmed

The financial statements approved by the Supervisory Board show that consolidated net income for fiscal 2006 reached a record high of EUR 39.5 million, which is EUR 0.2 million higher than the preliminary figures. EBIT stood at EUR 51.2 million, and revenues at EUR 145.6 million. The number of employees increased from an average of 202 to 238.

Placed equity capital during the past fiscal year reached EUR 640.5 million, as compared with EUR 647.7 million in the previous year. Of this amount, HCI invested 40% in real estate funds, private equity funds of funds and the secondary life insurance market, twice as much as in 2005. The percentage of placed equity capital represented by ship funds thus decreased from 80% to 60%. In the current fiscal year, ship funds will constitute around 50% of placed equity capital. "This enabled us to reduce even further our dependence on a single class of assets," said CEO Christ. The way our business developed in private equity funds of funds and real estate investment products was particularly gratifying. In both segments, sales increased by more than 100%.

Harald Christ sees this development as another confirmation that HCI is well prepared to face the upheaval in the market for closed-end funds: "The industry is on the move," said Christ. Private investors are demanding tailor-made solutions, sales via independent investment advisors have become increasingly important and shareholders like the idea of stable earnings from a variety of sources. Says Christ: "Just as our stock exchange listing ensures the transparency demanded by regulators, our broad product range is the answer to the changing demands of our shareholders and fund investors."

Business Model Expanded to Include Asset Management Services

Having identified the need to diversify its sources of earnings, HCI Capital AG has increasingly moved its business model away from sales of its own products. By 2006, recurring revenues from management of clients' money and consulting services to third parties increased by 15.4% to EUR 30 million. The recurring revenues now account for 20.6% of the group's total income. According to Chief Financial Officer Dr. Rolando Gennari: "HCI got an early start on diversifying its earnings. Recurring revenues represent a higher proportion of total income at HCI than at any other company in our industry. More and more, we are becoming asset managers. Recurring revenued will increase even more in the coming years and will further solidify our earnings base."

The Company has also made significant progress with institutional investors. For example, during the past year HCI entered into a joint venture with American real estate investor Behringer Harvard, HCI's first institutional partner, which expects to invest more than EUR 1 billion in Europe in the next three years. HCI's role in the partnership will be to identify, purchase, optimize and manage the properties, for which it will receive an ongoing management fee. As a next step with institutional investors, HCI plans to start marketing its own ship fund for institutional investors in the current year. This fund is to be listed on the Hamburg Stock Exchange and will offer investors a high degree of flexibility.

Interest in Sales Platform Aragon AG Opens New Opportunities

In the intense competition for limited sales capacities, HCI scored a significant success during the past year. By acquiring 25% plus one share of financial sales group Aragon AG, HCI not only expanded its base of independent sales partners, but also tapped new earnings potential for its own shareholders. CEO Harald Christ puts it this way: "For many years we have benefited from the strength of independent financial sales groups because of their flexibility and knowledge of their clientele and were the first to see their growing significance for success in the market. By investing in the Aragon Group we will directly benefit from the success of the fastest growing pool of brokers in Germany and their partners. This will allow us to help shape the growth of financial sales in Germany." This will be particularly important as the market changes in coming years with additional regulatory requirements and new products.

Effective January 1, 2007, Wolfgang Essing was appointed to head up a new area of responsibility, "Sales and Marketing." HCI's goal is to respond more closely to the specific needs of the three main groups of financial institutions in Germany (large private banks, savings banks and Landesbanks, Volksbanks and Raiffeisenbanks) and to further strengthen the leading position it has already established. To assist in this regard, around 40 new sales employees were hired during the past year.

Harald Christ: "With its new strategic orientation, HCI is anticipating the coming changes in the market and gearing up for increasing competition." The CEO expects net income of EUR 31 million and revenues of EUR 150 million for 2007, with placed equity capital of approximately EUR 700 million.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

06.03.2007

HCI Capital AG announces change in supervisory board

The supervisory board of HCI Capital AG recommends to the annual shareholders meeting on May 10th 2007 to elect Alexander Stuhlmann and lic. oec. Karl Gernandt as new members of the supervisory board of HCI Capital AG.

Alexander Stuhlmann has been former CEO of HSH Nordbank while lic. oec. Karl Gernandt is current CEO of Holcim (Deutschland) AG Germany. Udo Bandow will continue as chairman of the supervisory board.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

06.03.2007

HCI Capital AG announces change in supervisory board

The supervisory board of HCI Capital AG recommends to the annual shareholders meeting on May 10th 2007 to elect Alexander Stuhlmann and lic. oec. Karl Gernandt as new members of the supervisory board of HCI Capital AG.

Alexander Stuhlmann has been former CEO of HSH Nordbank while lic. oec. Karl Gernandt is current CEO of Holcim (Deutschland) AG Germany. Udo Bandow will continue as chairman of the supervisory board.

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

27.02.2007

Preliminary results for 2006

• Annual net profit up 4% to EUR 39.3 million
  
• Continued revenue diversification, share of recurring earnings up 15.4% to EUR 30 million
  
• Forecast for 2007: Placed equity capital up 9%, dip in revenue from intermediary ship trade, annual net profit expected to total EUR 31 million

HCI Capital AG Results Exceed Expectations for 2006 Financial Year

According to preliminary figures for 2006, HCI revenue will total EUR 145.6 million, i.e. only slightly below last year's revenue of EUR 150.2 million. Thus, revenue earnings and the volume of placed equity capital developed similarly, the latter amounting to EUR 640.5 million and also only slightly below last year's record EUR 647.7 million. Earnings before interest and taxes (EBIT) rose from EUR 48.0 million last year to EUR 50.8 million; likewise, the EBIT margin rose from 32.0 percent in 2005 to 34.9 percent for the 2006 financial year. HCI chief financial officer Dr. Rolando Gennari commented: "This increase reflects the high earnings generated by the ship fund segment and the higher-than-average return on investment generated by our business model. Compared to the previous year, we increased recurring earnings by 15.4 percent to slightly over EUR 30 million. The increase in sustained and stable earnings has a significant impact on the quality of the overall HCI results."

For the current financial year 2007, the HCI Management Board expects an increase of over nine percent in placed equity capital to approximately EUR 700 million, amounting to an estimated EUR 150 million in revenue earnings and an annual net profit of approximately EUR 31 million. Harald Christ commented: "In 2006 intermediary shiptrade showed excellent results for HCI. Earnings are expected to drop in this market during 2007. HCI intends to remain an acticve player in this field in order to take advantage of opportunities in the assets market in the interest of shareholders and investors."

The company will also continue to pursue its diversification strategy. The product categories real estate, private equity and structured products, by contrast, are expected to continue increasing their proportionate share of total volume in placed equity capital, thus reducing dependence on the ship fund segment. HCI guarantees high product availability in every category. As a means of expanding the client base of institutional investors, HCI will expand cooperating with institutional investors in the real estate segment in 2007 as well as studying the possibility of a ship investment product targeted to institutional investors this year.

Dr. Rolando Gennari confirmed that, "The increase in the share of recurring revenues further secures and stabilizes HCI's income. By pursuing our diversification strategy we are disconnecting cash inflow from individual markets." The strategic participation in Aragon AG is part of this diversification strategy. As Harald Christ pointed out, "Regardless of our own placement success, HCI's consolidated earnings will clearly profit from the share held in the financial-services provider Aragon Group due to the growth of the entire financial-services market."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

27.02.2007

Preliminary results for 2006

• Annual net profit up 4% to EUR 39.3 million
  
• Continued revenue diversification, share of recurring earnings up 15.4% to EUR 30 million
  
• Forecast for 2007: Placed equity capital up 9%, dip in revenue from intermediary ship trade, annual net profit expected to total EUR 31 million

HCI Capital AG Results Exceed Expectations for 2006 Financial Year

According to preliminary figures for 2006, HCI revenue will total EUR 145.6 million, i.e. only slightly below last year's revenue of EUR 150.2 million. Thus, revenue earnings and the volume of placed equity capital developed similarly, the latter amounting to EUR 640.5 million and also only slightly below last year's record EUR 647.7 million. Earnings before interest and taxes (EBIT) rose from EUR 48.0 million last year to EUR 50.8 million; likewise, the EBIT margin rose from 32.0 percent in 2005 to 34.9 percent for the 2006 financial year. HCI chief financial officer Dr. Rolando Gennari commented: "This increase reflects the high earnings generated by the ship fund segment and the higher-than-average return on investment generated by our business model. Compared to the previous year, we increased recurring earnings by 15.4 percent to slightly over EUR 30 million. The increase in sustained and stable earnings has a significant impact on the quality of the overall HCI results."

For the current financial year 2007, the HCI Management Board expects an increase of over nine percent in placed equity capital to approximately EUR 700 million, amounting to an estimated EUR 150 million in revenue earnings and an annual net profit of approximately EUR 31 million. Harald Christ commented: "In 2006 intermediary shiptrade showed excellent results for HCI. Earnings are expected to drop in this market during 2007. HCI intends to remain an acticve player in this field in order to take advantage of opportunities in the assets market in the interest of shareholders and investors."

The company will also continue to pursue its diversification strategy. The product categories real estate, private equity and structured products, by contrast, are expected to continue increasing their proportionate share of total volume in placed equity capital, thus reducing dependence on the ship fund segment. HCI guarantees high product availability in every category. As a means of expanding the client base of institutional investors, HCI will expand cooperating with institutional investors in the real estate segment in 2007 as well as studying the possibility of a ship investment product targeted to institutional investors this year.

Dr. Rolando Gennari confirmed that, "The increase in the share of recurring revenues further secures and stabilizes HCI's income. By pursuing our diversification strategy we are disconnecting cash inflow from individual markets." The strategic participation in Aragon AG is part of this diversification strategy. As Harald Christ pointed out, "Regardless of our own placement success, HCI's consolidated earnings will clearly profit from the share held in the financial-services provider Aragon Group due to the growth of the entire financial-services market."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading non-bank-affiliated issuing houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Unternehmenskommunikation
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49/69-944 180 69
thomas.luber@newmark.de

01.02.2007

HCI Capital AG - New Shareholder Structure

• Peter Döhle Schiffahrts KG and Corsair Capital LLC acquire 10 percent HCI stock each
  
• MPC Capital AG continues to hold 15.1-percent share
  
• Chairman of the Board Harald Christ: "A new chapter in the history of the company."

The two new shareholders are the Hamburg-based shipping company Peter Döhle Schiffahrts KG and the investment corporation Corsair Capital LLC, the former already being a long-standing business partner of HCI. Both companies are joint owners with equal shares in Hammonia Reederei GmbH & Co. KG and the tanker operating company Hellespont Hammonia GmbH & Co. KG, a joint venture with the Greek Hellespont Group. A number of commitments in the fund market make Corsair Capital LLC a knowledgeable partner as well.

To enable Döhle's and Corsair's entrance as shareholders, MPC Capital AG has parted with 14.5 percent of its stock. A further 2.2 percent originate from senior shareholder Sicar AG, which has now withdrawn completely from its commitment in HCI. 3.4 percent originate from Harald Christ's own company, Christ Capital GmbH, leaving him with a remaining 8.8-percent share in HCI. As a result, the number of free-floating shares once again totals 56.1 percent.

Harald Christ commented: "This solution provides us with a shareholder structure combining an optimal degree of stability and professional support. What is more, the investors' interest in our company is evidence of our potential. I parted with 3.4 percent of my HCI stock in order to facilitate this solution."

About HCI

The HCI Group was founded in 1985 and creates closed-end funds in shipping, real estate, private equity fund of funds and the secondary life insurance market, as well as asset creation plans and structured financial products. Since 1985, over 87,700 clients have invested EUR 4.54 billion in 436 issues, with an investment volume totalling more than EUR 11.96 billion, making HCI one of the leading financial services system houses in Germany. HCI Capital AG has been listed on the stock exchange since October 2005. It has been listed on the SDAX since December 19, 2005 and on the Hamburg Regional Index HASPAX since September 1, 2006.

Press inquiries

Ingo Pfeil
HCI Capital AG
Corporate Communication
Tel. +49 40 88 88 1-236
ingo.pfeil@hci-capital.de

Thomas Luber
Newmark Finanzkommunikation GmbH
Director Corporates and Capital Markets
Tel.: +49 69 94 41 80 69
thomas.luber@newmark.de