3rd Quarter Results

Wereldhave NV
07 November 2007



Profit

The profit for the first nine months of 2007 amounts to € 146.7 mln, or
€ 6.77 per share. The portfolio was revalued upwards in all countries. Surpluses
on disposals of properties amounted to € 7.8 mln.


Direct result

The direct result for the first three quarters amounts to € 83.0 mln in 2007, a
€ 1.5 mln decrease compared to 2006. In spite of € 1.7 mln higher like-for-like
rental income, net rental income decreased by € 1.4 mln as a result of the
negative effect of purchases and sales of property (€ - 1.9 mln) and exchange
rate differences (€ -1.2 mln). Interest charges increased by € 2.3 mln. In
particular the premium received from the surrender of a lease during the first
quarter led to a € 2.1 mln increase of other gains and losses. Exchange rate
differences, mainly on the dollar, had a total negative effect on the direct
result of € 0.9 mln. The direct result per share for the first three quarters of
2007 amounts to € 3.76, which is 1.8% lower than in 2006.


The occupancy rate of the portfolio for the third quarter amounts to 93.3% (2nd
quarter 2007: 94.4%). Broken down by sector, the occupancy rate during the third
quarter was: offices 88.5%, retail 98.7%, industrial 94.6% and residential
92.6%.


Indirect result

During the first three quarters of 2007 property disposals realised a surplus of
€ 7.8 mln (2006: € 40.1 mln). The revaluation surplus for the first three
quarters of 2007 amount to € 65.2 mln (until September 30, 2006: € 78.1 mln).
Initial yields have changed only slightly during the third quarter, bringing the
weighted average net initial yield of the entire portfolio to 6%. The indirect
result to September 30, 2007 amounts to € 63.7 mln (2006: € 100.9 mln).


Equity

Shareholders' equity at September 30, 2007 amounted to € 1,910.3 mln (December
31, 2006: € 1,890.2 mln). This represents 67.0% of the balance sheet total. Net
asset value per share amounted to € 86.34 at September 30, 2007 (December 31,
2006: € 80.87 after distribution of profit). No convertible bonds have opted for
conversion. On September 30, 2007 the total number of ordinary shares in issue
amounted to 20,781,735.


Property portfolio

On July 20, 2007, in Spain Wereldhave purchased a retail- and leisure centre of
22,666 m(2) in Collado Villalba, approx. 40 kilometres northwest of Madrid. The
purchase price amounts to € 53 mln. There have been no disposals of property
during the third quarter.

On October 3, 2007 Wereldhave completed the sale of an office building of 23,163
m(2) in Rijswijk, The Netherlands. The proceeds of the sale amounted to € 43.6
mln, which results in a surplus on disposal of € 4.1 mln.

On October 9, 2007, in Meer, Belgium Wereldhave sold three industrial properties
totalling 40,969 m(2), for € 19.5 mln, generating a surplus on disposal of € 5.4
mln. These two sales have increased the result on disposals for the year 2007 to
€ 17.3 mln, of which € 4.4 was included in previous revaluations.


On October 1, 2007, in Espoo, Finland, a conference centre with hotel facilities
was transferred to the investment portfolio. The investment value amounts to €
4.4 mln. On completion, the building was fully let. At the end of November 2007
in San Antonio, United States, construction of the first phase of a residential
development project will commence. The completed investment value amounts to USD
190 mln. Completion of the 500 apartments and central facilities is planned for
the second quarter of 2009.


Prospects

Wereldhave wants to create value for its shareholders. This implies the disposal
op properties with little perspective on future value growth. The lower net
rental income resulting from these disposals, are the consequence of the
conscious choice to realise value. Wereldhave has a pipeline of well over € 400
mln of development projects, which will start to contribute as from 2009 and
following years.


Wereldhave maintains its earlier forecast of a direct result for the year 2007
between € 4.75 and € 4.85 per share, given the current exchange rates.



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