Sub-scribed

capital

Premium upon issue

Reserves

Result

Impact*

Trans-lation diffe-rences

Total

share-holders’ equity

EUR (x 1,000)

Statutory

reserves

Available

reserv.

Re-valuation

reserves

Reserves not available for distri-bution

Shareholders’

equity as at

31-12-2008

68,913

0

149

50,789

5,179

131,171

25,613

-22,106

1,599

261,307

Profits for the

first half of

2009

7,986

-9,199

114

-1,099

Transfers

- Transfer of

result on

portfolio and

corresponding

deferred taxes

to reserves not

available for

distribution

-18,060

18,060

0

- Impact on the

fair value of

estimated

transfer

costs resulting

from

hypothetical

disposal of

investment

property

5,196

-5,196

0

- Reserves not 

available for

distribution of

properties sold

1,605

-1,605

0

- Transfer of

IAS 39 result of

the current

financial year

to reserves not

available for

distribution

-7,164

7,164

0

Capital

increases

29,014

63,961

92,975

Other

-6

-6

Shareholders’

equity as at

30-06-2009

97,927

63,961

149

52,394

13,165

109,538

41,632

-27,302

1,713

353,177

Subscribed capital

Reserves

Result

Impact*

Translation differences

Minority-interests

Total share-holders’ equity

EUR (x 1,000)

Statutory reserves

Available reserves

Reserves not available for distribution

Shareholders’

equity as at

31-12-2007

68,913

149

40,077

179,223

38,202

-18,662

1,857

441

310,200

Comprehensive

income for the

first half of 2008

21,202

-887

20,315

Transfers

- Transfer of result

on portfolio and

corresponding

deferred taxes to

reserves not

available for

distribution

-439

439

0

- Addition of

reserves of

financial year

of WDP CZ to

statutory reserves

43

-43

0

- Impact on the

fair value of

estimated

transfer costs

resulting from

hypothetical

disposal of

investment property

369

-369

0

Remaining

dividends paid

out for 2007

-12,232

-12,232

Other

-2

-2

Shareholders’

equity as at

30-06-2008

68,913

192

40,077

179,153

47,566

-19,031

970

441

318,281