FFO of € 2,1 mio

The consolidated Funds from Operations for the nine month period of 2012 amounted to € 2,1 mio compared to € 3,2 mio of the corresponding previous year period. The consolidated results after the losses from fair value adjustments of investment properties amounting to € 3,8 mio (€ 1,8 mio valuation losses for the nine month period of 2011) were losses of € 1,7 mio versus profits of € 1,5 mio for Q3 2011.

More specifically, the evolution of Company's key fundamentals has as follows:

-     Total rental income amounted to € 3,6 mio versus € 4,8, showing a decrease of € 1,2 which is attributed to the sale of the 5 Korai Str. Building that took place in July 2011.

-     The operating expenses amounted to € 1,3 mio compared to € 1,1 mio for the corresponding period last year, showing an increase of € 0,2 mio which can be attributed to the creation of provisions for bad debts and expenses related to the legalizations of assets. Total operating expenses for 2012 are expected to be lower than those of 2011.

-     The property portfolio value on 30.9.2012 was € 85,5 mio compared to € 78,6 mio as of  31.12.2011 due to the acquisition of a building at168 Kifissias Avein Maroussi,Athens. The property portfolio value on 30.9.2011 was € 80,6 mio.

-     The non current bank debt amounted to € 7,5 mio

-     The cash & equivalents on 30.09.2012 amounted to € 8,6 mio.

-     The Net Asset Value (NAV) on 30.09.2012 amounted to € 88,3 mio or € 1,61 per share, versus € 95.4 mio or € 1,74 per share on 31.12.2011.

The Company seeks to maintain its profitability in order to be able to provide high dividend yield to the shareholders, relying on the quality of its current portfolio. At the same time the Company is aiming to increase its rental yields under the current market conditions.