| A A A22 Dec 2006
In a statement issued to the Stock Exchange today ahead of the end of its first reporting period on 31 December 2006, Blackrock International Land plc said:
"The Group's first financial statements will cover the period from the commencement of operations on 11 May 2006 to its reporting date, 31 December 2006.
Based on the latest estimates for the period, the Group anticipates reporting an increase in its net asset value per share of in excess of 6% over the €0.355 that pertained on commencement of operations on 11 May 2006. The estimated outturn takes into account projected translation rates and initial indications of period-end property values.
During the accounting period, the Group announced expenditure on investment and development properties totalling €142 million, bringing its gross property assets to almost €340 million, an increase of more than 70%. Net debt at the end of the period is expected to be approximately €90 million.
The Group is currently finalising a number of transactions that could see further investment before the year end in the order of €35 million."
Blackrock International Land plc
22 December 2006
For further information, please contact:
Brian Bell, WHPR - Tel: +353-1-669-0030
