8. Post-balance-sheet events

WDP is currently working on three sales, jointly worth EUR 15 million. These relate to two small non-strategic properties, and the sale of part of the unused land reserve in Sint-Niklaas. Also, WDP is planning to install solar panels with a capacity of 2 MWp at the DHL-site in Willebroek in the latter part of the year, which after completion at the end of 2009 will represent an added value of EUR 5 million.

On 30 June 2009 the gearing was 55.36%, compared to 63.04% on 31 December 2008. The initiatives mentioned will together lead to a further decline of the gearing by around 1%, as a result of which the gearing, including completion of all current projects, will be at around 57% on the basis of the balance sheet and the valuation as at 30 June 2009.