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Victoria City Centre – Update Regarding Project Development Plan

16 Mar 2012

Shareholders are referred to the announcements regarding the proposed development of the Victoria City Centre shopping centre released on 17 November 2011 and 20 December 2011.

As per the announcement of 20 December 2011 the proposed development is subject to the shareholders of the development company, being NE Property Cooperatief U.A. (NEPI’s wholly-owned subsidiary), Kitma Holdings Limited and Grenoui Holdings Limited, approving a project development plan. It was intended that the project development plan would be approved at a meeting of the shareholders of the development company on 28 February 2012.

However, shareholders of the development company are still finalising the project development plan and accordingly have agreed to postpone the meeting at which the project development plan will be adopted.

Further announcements will be released in this regard in due course.