Peach Property Group AG further expands its Team Germany

Zurich, 9 July 2010 – Peach Property Group AG further expands its activities in Germany and appoints new executives.

With the successful start in May to the yoo berlin project operations, which will create 86 new „yoo inspired by Starck“ Townhouses, Penthouses and Suites on the River Spree in Berlin-Mitte, Peach Property Group AG is pleased to announce the addition of two new executives in Germany.

Its German operations will be strengthened by Henk van Doesburg as Chief Financial Officer and Ralf Vorrink as Managing Director of Peach Property Group (Deutschland) GmbH, a 100% subsidiary of Peach Property Group AG.

Henk van Doesburg was until recently CFO of ING Real Estate Germany GmbH based in Frankfurt /Main. Before this he had spent six years as Director of Finance & Administration at DTZ Deutschland Holding GmbH, an international real estate consultancy also based in Frankfurt /Main.

Ralf Vorrink joined Peach Property Group AG in early 2010 as head of technical real estate development for the Group. An engineer by training, Vorrink was previously MD of a subsidiary of Frankonia Eurobau AG. As an experienced specialist for complex building projects, he is the ideal choice as Managing Director of Peach Property Group (Deutschland) GmbH.

The former MD and CFO, Steven Boyens, is leaving the company. Peach Property Group AG wishes to express its appreciation to Mr Boyens for his valuable contributions to establishing its German subsidiary during the past twelve months and wishes him success in his future endeavours.

Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, commented:

„We are very pleased that we can strengthen our Team Germany with Henk van Doesburg and Ralf Vorrink. At the same time I would like to thank Mr. Boyens for his contributions setting up the Peach Group in Germany.“

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