direct/ Wereldhave NV: Interim Results

WERELDHAVE RESULTS 1ST HALF YEAR 2006

EUR 67.9 mln higher profit from disposals and revaluation
EUR 31.3 mln increase in results on disposals
EUR 45.5 mln increase in property revaluation
EUR 1.9 mln lower direct result

Profit
Compared with 2005, the profit for the first half year, consisting of the direct and indirect result, increased by EUR 67.9 mln to EUR 155.7 mln. Profit per share increased from EUR 4.01 to EUR 7.30.

Direct Result
The direct result for the first half year of 2006 decreased by EUR 1.9 mln to EUR 56.6 mln compared with 2005. Profit per share: EUR 2.57 (2005: EUR 2.66). Net rental income increased by EUR 1.8 mln, mainly due to higher occupancy and the positive net effect of property purchases and sales. Interest charges rose by EUR 2.2 mln, of which EUR 1.1 mln was due to higher interest rates and EUR 1.1 mln the result of the property purchases and sales. General costs increased by EUR 1.3 mln, mainly due to higher costs of reporting in connection with IFRS and due to higher personnel charges. Exchange rate differences had a EUR 0.5 mln positive effect on the direct result.
The occupancy rate of the portfolio during the second quarter of 2006 amounted to 93.1% (first quarter 2006: 92.8%).

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