NORVESTIA'S NET ASSET VALUE ROSE BY 0,4% IN JANUARY 2010
Change in NAV, 1 month		0,4 %
Change in NAV, since beginning of year		0,4 %
Change in NAV, 12 months		14,0 %	(dividend-adjusted)
		31.1.2010	31.12.2009	31.12.2008
Net asset value/share, €		9,77	9,73	8,77
		EUR	EUR	EUR
		million	million	million
ASSETS
NON-CURRENT ASSETS
	Tangible assets	0,0	0,0	0,0
	Deferred tax assets	6,5	6,9	9,0
	Interests in associates	3,7	3,7	3,5
	Other investments	1,8	1,8	1,7
CURRENT ASSETS
	Shares held for trading	57,8	48,6	48,8
	Other financial assets at fair value	42,8	43,2	30,9
	Cash and receivables	46,1	51,9	43,5
ASSETS IN TOTAL		158,7	156,1	137,4
Current liabilities		-3,0	-0,9	-0,5
Deferred tax liabilities		-6,0	-6,1	-2,6
NET ASSET VALUE		149,7	149,1	134,3
Number of shares 15,316,560
PRINCIPLES OF CALCULATION
Publicly listed shares, investment funds and derivatives have been measured at
closing price. In case the closing price has been unavailable, the purchase quotation has been used. Unlisted shares have been measured at fair value using various valuation methods.