Stock Exchange Announcement
14 November 2008
RomReal Q3 2008 results
14 November 2008
RomReal is pleased to report the highlights in connection with the Q3 2008 results:
- Statutory Net Asset Value (NAV) was EUR 1.6 (NOK 12.8) per share as at 30 September 2008, following a decision by the management to write down the land bank/development projects with 31%
- Pre-tax loss in Q3 2008 of EUR 39.2 million. Total assets at end Q3 were EUR 104.8 million
- Oasis and Central projects are suspended due to slow progress of sales and a winding down process has been initiated
- Project finance rejected for Central and Corallia
- Kay Thorkildsen appointed permanent CEO of RomReal
- Cost reduction programme is intensified and number of employees to be significantly reduced by year-end 2008
RomReal invites investors, analysts and media to attend the conference to be held at 9.30 a.m. CET on 14 November 2008.
Those wishing to attend the call are invited to dial:
UK + 44 (0)1296 480180
Norway +47 23162814
Denmark +45 38487548
US +1 7183541176
Participant passcode: 882 693#
The call will be recorded and will be immediately available to download from www.romreal.com.
For further information, please contact:
Ulf Lund, Investor Relations
Tel: +44 20 7802 1928
Mob: +44 7920 501 090
E-mail: investors@romreal.com