Corio's Q1 2012 direct result increased by 2.6%

FINANCIAL HIGHLIGHTS Q1 2012 (Comparative figures for Q1 2011 results in brackets, unless stated otherwise) · Net rental income up 3.3% at EUR 101.2 m (EUR 98.0 m). · Like-for-like net rental growth retail portfolio: 1.4% (2.1%). · Footfall on like-for-like basis increased 1.1%. · Positive reletting and renewals: 2.7% up for 1.9% of the retail contracts. · Financial occupancy rate for the retail portfolio increased slightly: 96.2% (96.0%)...

FINANCIAL HIGHLIGHTS Q1 2012
(Comparative figures for Q1 2011 results in brackets, unless stated otherwise)

· Net rental income up 3.3% at EUR 101.2 m (EUR 98.0 m).
· Like-for-like net rental growth retail portfolio: 1.4% (2.1%).
· Footfall on like-for-like basis increased 1.1%.
· Positive reletting and renewals: 2.7% up for 1.9% of the retail contracts.
· Financial occupancy rate for the retail portfolio increased slightly: 96.2% (96.0%).
· Net direct financing expense down EUR 1.5 m to EUR 24.6 m (EUR 26.1 m).
· Direct result up 2.6% to EUR 67.9 m (EUR 66.2 m).
· Direct result per share up EUR 0.01 to EUR 0.74 (EUR 0.73).
· Valuation retail portfolio stable, revaluations retail EUR 8.0 m negative (EUR 28.4 m).
· Net result at EUR 40.1 m (EUR 87.1 m).
· Value of the property portfolio: EUR 7,457.8 m at 31 March 2012 (year-end 2011: EUR 7,426.5 m);
· Percentage invested in retail: 97% (year-end 2011: 97%).
· Leverage: 40.9% at 31 March 2012 (year-end 2011: 41.0%); average interest rate Q1 2012: 4.1% (Q4 2011 4.1%); fixed interest debt 69% (year-end 2011: 64%).
· Corio closed EUR 250 m under a Euro Commercial Paper program.
· Pipeline: decrease of EUR 150 m to EUR 2,362 m (31 December 2011: EUR 2,512 m).
· Committed pipeline (including already paid of EUR 120.7 m) decreased EUR 175 m to EUR 751 m.
· Net Asset Value (NAV) per share at EUR 45.98 (year-end 2011 EUR 45.57), NNNAV per share at EUR 47.45 (year-end 2011: EUR 47.15).

BUSINESS HIGHLIGHTS Q1 2012
· Corio sold the office in Böblingen in January 2012 for EUR 14.9 m.
· Opening of Arneken Galerie in Hildesheim (investment of: EUR110.3 m, NTY: 6.8%).
· Opening of Tarsu shopping centre in Tarsus (investment of: EUR 53.7 m, NTY: 8.7%).

EVENTS AFTER REPORTING DATE
· Corio closed an additional EUR 80 m under a Euro Commercial Paper program in April 2012.
· The redeveloped top floor of Maremagnum was opened in April 2012.
· Corio's AGM approved the proposed dividend of EUR 2.76 in cash or shares, in line with its long standing policy to increase dividend per share with average inflation in the euro zone.

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