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2016-02-05

Vastned Retail Belgium : Annual results 2015

Continued execution of the strategy to ensure that the share of premium city
high street shops in the real estate portfolio exceeds 75% in the long term.

As at 31 December 2015, 58% of the real estate portfolio consisted of premium
city high street shops, 17% of high street shops and 25% of non-high street
shops (retail parks and retail warehouses).

Acquisition of four premium city high street shops in the historic city centre
of Antwerp for a total investment amount of € 18 million.

Start of prominent redevelopment and thorough restoration of a premium city
high street shop of 3.000 m² on Zonnestraat in Ghent.

Divestment of 14 non-strategic retail properties, i.e. retail warehouses and
inner-city shops at secondary locations, accounting for € 31 million or 9% of
the overall real estate portfolio.

Realisation of 24 rental transactions representing approx. 15% of the total
annual rental income, resulting in an average increase in rent of 15%.

Occupancy rate as at 31 December 2015: 98% (98% as at 31 December 2014).

Increase in fair value by approximately 1% of the existing real estate
portfolio in financial year 2015, mainly as a result of the stronger yields
of the premium city high street shops and new lettings.

Gross dividend amounts to € 2,51 per share for financial year 2015 (€ 2,72 for
financial year 2014). Gross dividend yield of 4,5% based on the closing
share price as at 31 December 2015, i.e. € 55,97.

Decrease in the operating distributable result to € 2,52 per share for
financial year 2015 (€ 2,72 for financial year 2014), primarily due to the
divestment at the end of 2014 of 19 non-strategic properties, approximately
12% of the real estate portfolio.

Further optimisation of the spreading of expiry dates for the credit lines.

Limited debt ratio of 28% as at 31 December 2015.

Full press release:

Press release
http://hugin.info/137399/R/1983924/727190.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vastned Retail Belgium via Globenewswire

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