Nieuwe Steen Investments: increase in result

During the first 9 months of 2002 Nieuwe Steen Investments n.v. achieved excellent results. Total investment result per share increased to EUR 1.20 (2001: EUR 1.11). In view of these results management have upgraded their forecast for the whole of 2002 and now expects an increase of at least 3.5%.

Direct investment result per share now amounts to EUR 1.00 (2001: EUR 0.99) over the first three quarters of this year. Direct investment result increased with EUR 6.5 mln to EUR 30.5 mln, an increase of 29%, as result of recent acquisitions and rental price increases. Management fees were 9.3% of rental revenues. Indirect investment result amounted to EUR 6.0 mln, or EUR 0.20 per share (2001: EUR 0.12).

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(source: Nieuwe Steen Investments)

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