direct/ Wereldhave Property Corp.
(the "9 ½ per cent. Stock")
£20,000,000 nominal 10 ¾ per cent. First Mortgage Debenture Stock due 2015
(the "10 ¾ per cent. Stock")
(together the "Stocks")
Wereldhave today announces an offer to purchase (the "Offer to Repurchase") up to £20,000,000 nominal amount of the Stocks. Any Stock purchased pursuant to the Offer to Repurchase will be cancelled.
Pursuant to the Offer to Repurchase, Wereldhave has asked The Royal Bank of Scotland to solicit offers from holders of the Stocks to offer for repurchase some or all of their respective holdings for redemption at a minimum margin of 60 basis points (0.60 per cent.) over the semi-annual gross redemption yield of the 4.75 per cent. Treasury Stock 2015 (the "Reference Stock").
It is envisaged that existing holders will offer their Stock for repurchase at a margin of 60 basis points or more above the gross redemption yield of the Reference Stock. Wereldhave will only accept offers for repurchase at margins greater than or equal to 60 basis points above the gross redemption yield of the Reference Stock.
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By Order of the Board
39 Sloane Street,
London SW1X 9WR
7th December 2006
Registered in England No. 295909
A member of the Wereldhave Group
Charles Bloema, Corporate Treasurer
+31 70 346 93 25
The Royal Bank of Scotland plc
Andrew Burton, Head of Liability Management
+44 20 7085 8056
Mike Hardman, Head of UK Sales
+44 20 7085 8082
Stuart Montgomerie, Head of European Corporate Syndicate
+44 20 7085 5862
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