RomReal Q2 2010 Results

•  Statutory Net Asset Value (NAV) under IFRS was EUR 0.83 (NOK 6.3) per share at the end of Q2 2010, a decline of 2.3% compared to the end of Q1 2010. This was as mainly due to the unrealised foreign exchange losses of the intra company debts of the Romanian operations.
• Pre-tax loss in Q2 2010 of EUR 3.38 million. Total assets at the end of Q2 2010 were EUR 56.57 million.
• RomReal's cash position increased with EUR 569,000 during Q2 2010 to a total of EUR 2,723,000 as a result of the ongoing sales and cash collections.
• Operational expenses were 38% less then in Q2 2009 and 26% less compared with Q1 2010.
• After the end of Q2 the number of employees has been further reduced to 5 people.
• On the Corallia apartment project, all of the 37 the apartments and commercial areas have been sold; for one of the existing contracts arbitration procedures are in course while another one has been transferred back to the Company which has also retained the 25% downpayment.

RomReal invites investors, analysts and media to the results conference call, to be held at 9.00 a.m. Oslo time (CET time) on Friday 20th August 2010.

Those who would like to attend the conference call should dial:

The conference call will be recorded and made available to download from www.romreal.com shortly after the call has ended.
 
For further information, please contact:
 
Harris Palaondas, Investor Relations

Mob: +40 73 11 23 037

E-mail: investors@romreal.com