In Notice No. 51 published 10 December 2009 it was announced that the latest valuation, undertaken in 2008, of the property portfolio was SEK 5,165 billion (adjusted for sold properties). In addition, it was stated that the expectation was that a new valuation would be lower than the 2008 valuation. The Senior Bank has now commissioned a new valuation of the property portfolio which indicates a value of SEK 4,823 billion. This is a fall of approx. 6.6% compared to the 2008 valuation. The new valuation will not affect the agreement made with the Senior Bank that they will not act in relation to the previously notified breach of loan terms regarding the size of the senior loan relative to the market value of the portfolio (Loan-to-Value), until the 5th January 2010. The Board of Directors Please address questions relating to this Notice to Chairman Ole Vagner on telephone +45 40254113 or via e-mail ole@vagner.dk. Further information about Kefren Properties IX AB is available on the Company's website, www.kefren.se.
Kefren Properties IX AB, 556691-4031 (”Company”) - New valuation of the property portfolio
| Source: Kefren Properties IX AB