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RomReal : Third (3rd) Quarter FInancial Results and Investor Presentation

November 29, 2012 - London

RomReal hereby announces the highlights in connection with the Q3 2012 results:

· Statutory Net Asset Value (NAV) under IFRS was EUR 4.60 (NOK 33.3) per share at the end of Q3 2012, a decline of 14.1% compared to the end of Q2 2012.

· The Board of Directors has reviewed the valuation of the land bank and decided to write down the Company's assets with 15%, except the Mamaia North plot whose value was kept unchanged from the 2011 end-of-year valuation. This resulted in an overall average writedown of 10%. Further changes in NAV cannot be ruled out following the year-end 2012 external IFRS valuation.

· Pre-tax loss in Q3 2012 of EUR 4.6 million. Total assets at end Q3 2012 were EUR 34.5 million.

· The Company has achieved an approval from Alpha Bank for an extension of the EUR 11.6 million loan subject to finalization of the documentation, including an amended corporate guarantee. The extension is for a period of 3 years until 30 November 2015, with a possibility to extend for another 2 years. The loan carries interest at a rate of EURIBOR+3%, payable bullet at maturity. On maturity the Company has the option of extending the loan for an additional two (2) years, in subsequent periods of one (1) year, if the interest is paid in advance for each year of extension. New real estate mortgage was provided to the bank of EUR 6m and the Corporate Guarantee of RomReal Ltd is in the process of being re issued until the maturity of the loan.

· The Board of Directors will put a proposal for a rights issue of around EUR 1 million (NOK 7.3 million) on a 20:1 basis (20 new shares can be subscribed for each existing share owned) to an EGM which will be called in Q1 2013. This is to secure sufficient working capital to cover the costs of operations.

RomReal invites investors, analysts and media to the conference call, to be held today Thursday 29 November 2012 at 9.00 a.m. Oslo time.

Those who would like to attend the conference call are invited to dial:

Participant joining details
UK Freefone:    0800 389 7473
UK Direct:  01296 480 180
International direct: +44 1296 480 180

Global Access Numbers:

Passcode: 823 506#

For further information, please contact:
Harris Palaondas

Investor Relations
Mob: +40 731123037
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Q3 2012 Report
Q3 Presentation

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: RomReal via Thomson Reuters ONE



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