Rodamco Asia undertook share buy-back

Rodamco Asia N.V. announced today that it has repurchased 65,294 shares at an average price of EUR 13.026 per share over the last five trading days. The total consideration of the recent share buy-back was EUR 0.85 million.

The company adopted the share buy-back policy in 2001. It permits management at its
discretion to repurchase shares that were issued as stock dividends when the shares are trading at a large discount to net asset value and with a view to compensating for the dilution effect of stock dividends. Purchases of shares are only effected during open periods. The next open period will commence after the publication of Rodamco Asia´s annual report 2002/2003 on 26 May 2003.

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