Nieuwe Steen Investments closes year energetically

Total investment result increased to EUR 1,53 per share

Nieuwe Steen Investments n.v. (NSI) realized a direct investment result of EUR 33.2 mln over 2001, which is 19.5% higher than in 2000 (EUR 27.8 mln). Direct investment result per share increased from EUR 1.32 to EUR 1.34. For 2002 NSI expects a direct investment result which at least will be equal to that over 2001.

Rental revenues amounted to EUR 61.4 mln over 2001, an increase of 24.1% compared to 2000. This growth was mainly caused by an increase in portfolio and rental price increases. Exploitation costs represented 8.3% of rental revenues.

Total investment result amounted to EUR 38.0 mln over 2001, an increase of 20.5% compared to 2000 (EUR 31.6 mln). Per average outstanding share the total investment result amounted to EUR 1.53 (2000: EUR 1.50).

During 2001 NSI invested for EUR 215.1 mln in real estate and divested for EUR 16.3 mln. Financial result of these transactions (indirect investment result) amounted to EUR 4.8 mln.

As per December 31, 2001 the real estate portfolio included 201 objects with a total book value (procurement price) of EUR 797.5 mln and consisted of offices (48%), retail real estate (29%), voluminous retail trade (5%), industrial real estate (7%) and houses (11%).

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(source: Nieuwe Steen Investments)

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