Eurobank Properties REIC's net profits for the six-month period ended June 30, 2007 increased by 89% compared to the same period in 2006 (Euro22.84 million for the six-month period ended June 30, 2007 compared to Euro12.08 million the six-month period ended June 30, 2006). Profits before tax amounted to Euro23.82 million for the six-month period ended June 30, 2007 compared to Euro12.61 million for the six-month period ended June 30, 2006, resulting in an increase of 89%. Income from rentals increased by 31% (Euro12.7 million for the six-month period ended June 30, 2007 compared to Euro9.7 million for the six-month period ended June 30, 2006). In addition, gains from sale of investment properties for the six-month period ended June 30, 2007 amounting to Euro1.07 million relates to the disposal of the Ioannina property for the price of Euro2.36 million. Net gain from fair value adjustment of investment property for the six-month period ended June 30, 2007 substantially increased to Euro12.45 million from Euro4.85 million for the same period in 2006. The net increase in the fair value of the Company's investment properties for the current six-month period ended June 30, 2007 was mainly driven by declining property investment yields. Finally, it is noted that the NAV (per share) as of June 30, 2007 amounted to Euro15.22 compared to Euro14.67 as of December 31, 2006. In the period from January 2007 to June 2007, the Company invested Euro24 million in one property in Northern Athens. Since the end of the 6M period ending on 30 June 2007 and until today, the Company invested approximately Euro26.9 million, Euro4.3 million in two properties in central Athens and Euro22.6 million in its first international investment, that of "Reco Real Property A.D." in Serbia, which the Company was able to invest in following the recent amendments to the law governing Greek REICs. As a result of these recent investments, the Company committed all remaining funds from last year's IPO, which will be paid, according to the relevant contractual terms, at a later stage.