IERE.L Regulatory News (IERE)

3 May 2007 09:38

Invista European Real Estate Trust03 May 2007 INVISTA EUROPEAN REAL ESTATE TRUST SICAF (the "Company") ANNOUNCEMENT OF NAV AND INTERIM DIVIDEND 3 May 2007 Invista European Real Estate Trust SICAF is pleased to announce a Net AssetValue adjusted to add back deferred taxation of EUR 3.00 (204p) per share as at31 March 2007, reflecting an uplift of 4.64% over the quarter. The Net AssetValue, calculated under International Financial Reporting Standards, was EUR2.74 per share. The Company also announces an interim dividend of EUR 0.049 (3.3p) per share inrespect of the period from IPO on 21 December 2006 to 31 March 2007. Thedividend payment will be made on 25 May 2007 to shareholders on the register on18 May 2007. This will be paid in Sterling at the then prevailing exchange rate.The ex-dividend date will be 16 May 2007. The Company's Net Asset Value figures incorporate the external portfoliovaluation as at 31 March 2007. Figures converted into sterling assume a EUR perSTG exchange rate of 1.4719 as at 31 March 2007. The property portfolio will next be valued by an external valuer as at 30 June2007 and the next quarterly Net Asset Value per share is expected to bepublished in July 2007. The value of the property portfolio as at 31 March 2007 was EUR 446m andconsisted of 15 properties. The recent acquisition of a French portfolio valuedat EUR 215m on 3 April 2007 plus outstanding conditional commitments valued atEUR 83m increased the value to EUR744m. Commenting on the results, Tony Smedley, Head of European Funds at Invista RealEstate Investment Management said "We are pleased with these results whichsupport our view that we have bought well and there is growth inherent in theportfolio. Against the background of having completed a significant portfoliotransaction in France and raised additional equity post 31 March 2007, we arepositive about the future prospects for the Company." Enquiries: Robert Kimmels +352 47 23 23 214Citco (Luxembourg) S.A. Tony Smedley / Chris Ludlam +44 20 7153 9343Invista Real Estate Investment Management Limited Ed Orlebar/Louise Hatch +44 20 7153 1523M:Communications This information is provided by RNS The company news service from the London Stock Exchange