Amsterdam Exchanges Calculates The First European Public Real Estate Index

The European Public Real Estate Association in conjunction with Amsterdam Exchanges calculate and publish a new European index on real estate, the EPRA Index. Amsterdam Exchanges will announce on a quarterly basis the outcome of the periodic review of the index. Amsterdam Exchanges calculate the index every 15 seconds making the EPRA Index Europe's first real time index focused on the European real estate sector. The EPRA Index contains approximately 90 public quoted real estate companies in 14 countries throughout Europe and can therefore be seen as a truly objective and representative benchmark for the real estate industry in Europe.

"The EPRA Index is one of the first initiatives of European Public Real Estate Association in achieving more transparency for the real estate industry", says Nick van Ommen, the newly appointed CEO of EPRA. "It is an important development for Amsterdam Exchanges to move into the real estate sector and supply a representative real time benchmark", added Leni Boeren Director of Marketing Research & Development at Amsterdam Exchanges. The European Public Real Estate Association is the representative organisation for European quoted real estate companies and will actively promote the European real estate industry and it's affiliate sectors. Some of the ways in which the association will try to achieve this object are as follows:-

the establishment of an active forum; the promotion of common standards of "best practice" across the industry-liaison with government and regulators; the establishment of the information function.

Following the quarterly review of the EPRA index on 9th June 2000 the EPRA index Committee decided under the ground rules of the index to make the following changes. The changes are effective as at 3rd July 2000.

Stocks excluded from the index are as follows: Intershop Holding under rule 1.9 (g); Hamborner under rule 1.9 (g); Choice Hotels under rule 1.9 ©.

Stocks included in the index are as follows: PSP Swiss Property (Switzerland) IPO 7th March 2000 (qualifies under 60 days rule); Allreal Holding (Switzerland) IPO 3rd March 2000 (qualifies under 60 days rule); Zublin Holding (Switzerland) IPO Re-capitalisation March 2000 (qualifies under 60 days rule).

Reclassification of stocks: Rodamco UK currently classified under United Kingdom reclassified under The Netherlands; Jermyn Investments currently classified under Ireland reclassified under United Kingdom.

The EPRA Index is maintained under the guidance of ground rules approved by the European Public Real Estate Association (EPRA) and is calculated on a real time basis by AEX Indices BV. For more details about the EPRA Index series visit EPRA.com. Ground rules and a full list of constituents will be made available from the EPRA web-site as from 1st July 2000.