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Fabian Romania Property Fund Limited Announces Participation In CA IB Real Estate Conference In London And Portfolio Valuation As At 31 December 2006
Hamilton, Bermuda, March 29, 2007 -- Fabian, the AIM listed property fund established to invest in Romanian property, announces that it is participating in the CA IB Real Estate Conference in London on 29 March 2007.
In accordance with market practice the Fund wishes to announce the following information which supports its unaudited NAV per Ordinary Share as at 31 December 2006 of ‚¬1.356, as previously announced on 22 January 2007.
The market valuations of the portfolio used within unaudited NAV per Ordinary Share are:
|
|
Market Value |
Bank (Debt)/Cash |
Other |
NAV |
|
Cascades office |
‚¬13.8m |
(‚¬9.5m) |
(‚¬0.2m) |
‚¬4.1m |
|
Banu office |
‚¬14.6m |
(‚¬9.1m) |
(‚¬0.2m) |
‚¬5.3m |
|
New Town * |
‚¬10.0m |
- |
(‚¬0.2m) |
‚¬9.8m |
|
Lakeview * |
‚¬8.3m |
- |
- |
‚¬8.3m |
|
Cash |
- |
‚¬42.2m |
- |
‚¬42.2m |
|
Other |
- |
- |
(‚¬0.7m) |
(‚¬0.7m) |
|
Sub-total |
‚¬46.7m |
‚¬23.6m |
(‚¬1.3m) |
‚¬69.0m |
* represents Fabian's share of the development
The pipeline to invest the ‚¬40m raised on admission to AIM continues to be actively progressed in line with the stated strategy.
The full year audited results are expected to be published at the time of the first quarter 2007 NAV per Ordinary Share towards the end of April.
END
For further information, please contact:
Fabian Romania Property Fund Limited
Mark Holdsworth 020 7499 9988