Management change at Rodamco Asia

Rodamco Asia NV (‘RA’) today announced that managing director Mr Freddy Chua will retire from the Management Board with effect from 1 April 2004 for personal reasons.

Mr Chua, 48, has been responsible for investment management activities of Rodamco Asia. With his departure, the remaining members of the Management Board, led by the Chief Executive Officer, Mr Ton de Boer, will be jointly responsible for his present duties.

There is no connection between the retirement of Mr Chua and the intention of ING Real Estate to make a public bid for Rodamco Asia. Mr de Boer said, “We respect Freddy’s personal decision to retire. On behalf of Rodamco Asia, I wish to express my heartfelt appreciation to Freddy for having been a key, senior member of the team and for his contribution over the years.”

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