Progress offers on VastNed Retail

Following on from the press release of February 8, 2008, in which VastNed Retail stated that all parties concerned would be given more time to make offers, the board of management of VastNed Retail
announces the following.

VastNed Retail has received an offer on the company as a whole, i.e. by means of a public offer for VastNed Retail. In view of the price and the uncertainties of this offer, the board of management and the
supervisory board feel that this offer at present provides insufficient scope for the conclusion of a definitive transaction on attractive conditions.

Additionally, VastNed Retail has received concrete offers for the property portfolios in the Netherlands, Belgium, Spain, Portugal and Turkey. Concerning the French portfolio, several indicative offers have been received.

The board of management and the supervisory board of VastNed Retail are of the opinion that these offers provide sufficient ground to investigate whether agreement can be reached with the parties
concerned regarding the sale of the respective (parts of the) property portfolios.

The board of management expects to be able to make further announcements in the course of April.

source : Vastned