NORVESTIA'S NET ASSET VALUE ROSE BY 2.0% IN JULY 2010

Change in NAV, 1 month

2,0 %

Change in NAV, since beginning of year

5,5 %

(dividend-adjusted)

Change in NAV, 12 months

9,4 %

(dividend-adjusted)

 

31.7.2010

30.6.2010

31.12.2009

Net asset value/share, €

9,76

9,57

9,73

EUR

EUR

EUR

million

million

million

ASSETS

NON-CURRENT ASSETS

Intangible assets

0,1

0,1

-

Tangible assets

0,0

0,0

0,0

Deferred tax assets

6,8

7,0

6,9

Interests in associates

3,6

3,6

3,7

Other investments

1,8

1,8

1,8

CURRENT ASSETS

Shares held for trading

63,2

58,7

48,6

Other financial assets at fair value

54,2

54,7

43,2

Cash and receivables

27,3

27,9

51,9

ASSETS IN TOTAL

157,0

153,8

156,1

Current liabilities

-0,6

-1,1

-0,9

Deferred tax liabilities

-6,9

-6,1

-6,1

NET ASSET VALUE

149,5

146,6

149,1

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.