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In this paper, we describe our system developed for the GErman SenTiment AnaLysis shared Task (GESTALT) for participation in the Maintask 2: Subjective Phrase and Aspect Extraction from Product Reviews. We present a tool, which identifies subjective and aspect phrases in German product reviews. For the recognition of subjective phrases, we pursue a lexicon-based approach. For the extraction of aspect phrases from the reviews, we consider two possible ways: Besides the subjectivity and aspect look-up, we also implemented a method to establish which subjective phrase belongs to which aspect. The system achieves better results for the recognition of aspect phrases than for the subjective identification.