Stock market newcomer Interhyp with record results

Residential mortgage volume at almost EUR 2 billion in the first 9 months

(Munich, November 8th, 2005) Interhyp AG, the largest independent provider of residential mortgages in Germany, accelerated its growth further: The brokered mortgage volume in the first nine months of 2005 amounted to EUR 1.987 billion, 109 per cent higher than in the same period the previous year. Also, Interhyp AG increased its profitability again, generating earnings before interest and tax (EBIT) of EUR 8.1 million since the beginning of the year.

Robert Haselsteiner and Marcus Wolsdorf, founders and Co-CEOs of Interhyp AG: "The significant increase in our growth rate proofs that our business model has what it takes to change the residential mortgage market in Germany: In the first nine months of 2005 alone, 11.888 customers could benefit from mortgage rates significantly lower than at traditional branch-based retail banks by using the services of Interhyp."

Mortgage volume more than doubled
The closed mortgage volume in the 3rd quarter of 2005 increased to EUR 877 million. This represents a growth of 150 per cent over the same quarter the previous year (EUR 351 million).

Revenues 186 per cent higher
Interhyp AG's revenues in the third quarter amounted to EUR 13.6 million, an increase of 186% compared to the same period of last year (EUR 4.7 million). Significant revenue growth was also achieved in the nine-month period: revenues since the beginning of the year amounted to EUR 30.6 million and were 153% higher than in the corresponding period of 2004 (EUR 12.1 million).

After deducting the cost of commission payments to brokers in the Prohyp business, Interhyp AG generated net revenues of EUR 11.2 million in the third quarter. This key number grew by 169% compared with the same period of last year (EUR 4.2 million). The accumulated net revenues of EUR 25.8 million for the first nine months of 2005 represent a 136% increase over the same period in 2004 (EUR 10.9 million).

Record earnings
EBIT increased more than tenfold compared with the third quarter of 2004 (EUR 0.3 million) and amounted to EUR 4.0 million. Q3 2005 was therefore the most profitable quarter in the history of Interhyp. EBIT for the first nine months of 2005 amounted to EUR 8.1 million, compared with EUR 0.6 million between January and September 2004.

The EBIT margin as a percentage of net revenues amounted to 35.7% in the third quarter. Therewith, the EBIT margin for the nine month period stands at 31.4% and is already in the target area of 30% plus.

Net profit is, partially due to special factors in the tax result, at EUR 6.9 million in the third quarter 2005, after EUR 0.1 million in the same period the previous year. Net profit for the nine months period increased from EUR 0.3 million in 2004 to EUR 10.1 million in 2005.

About Interhyp AG:
With almost 2 billion Euros in new residential mortgage volume in the first nine months of 2005, Interhyp is Germany's leading independent residential mortgage broker. Interhyp combines the power of the Internet with high quality mortgage advice and the cost benefits of a direct distribution model to provide borrowers with rates which are on average 0,5% below those of traditional branch-based retail banks.

Interhyp AG shares are listed in the Prime Standard at Frankfurt Stock Exchange with the code IYP and the ISIN: DE 00005121701.

Press contact:
Christian Kraus, SVP Corporate Communications
Telephone +49 89 20 30 7 13 01
e-Mail: christian.kraus@interhyp.de