Eastern Property Holdings Announces Six-Month 2...

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Announces Six-Month 2010 Results processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

For the first reporting period since end-2008, the appraised values of the
company's rental properties were modestly higher, as Russian property markets
belatedly reflect the stabilization of rents and capital values seen several
periods earlier in Western European markets.

Fair value adjustments generated a Net operating profit of US$ 4.36 million, net
of finance cost. However, primarily due to impairment of two parking projects at
the company's Moscow parking joint venture (an associated company), the company
reports a US$ 3.39 million Net loss for the period.

The company's Net Asset Value per share is US$ 76.32, reflecting total
shareholder's equity of US$ 325.31 million.

EPH's interim financial report is available at the company website:

www.easternpropertyholdings.com


*********

Eastern Property Holdings Ltd. is an SIX Swiss Exchange-listed real estate
development and investment company focusing on Russia. The company holds
interests in office, residential, retail and parking properties and
developments, principally in Moscow and St. Petersburg. EPH is managed by
Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.
Additional information on Eastern Property Holdings is available by contacting
Terry Olin, Tel: [phone].




[HUG#1447968]



 --- End of Message --- 

Eastern Property Holdings Limited (EPH)
Valartis Asset Management SA/Case Postale 3458 Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;

Media Release (PDF): 


http://hugin.info/139905/R/1447968/390445.pdf




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: Eastern Property Holdings Limited (EPH) via Thomson Reuters ONE