Company Profile For Metrovacesa SA

Metrovacesa SA is a Spain-based company active in the real estate sector. Its activities include the acquisition, purchase, promotion and management of properties primarily for rental purposes. Its portfolio is structured in six divisions: Offices, comprising over 500,000 square meters of leasable surface area; Shopping Centers, including five operating centers and two in development; Hotels, comprising 14 operating hotels and three in construction; Homes, providing residential property construction and development services; Car Parks, operating 13 parking lots located in Madrid, Valencia, Soria and Santa Cruz de Tenerife, and Land, which portfolio consists of more than three million square meters of land. The Company is a parent of Grupo Metrovacesa, a group which comprises a number of entities with operations established in the United Kingdom, Germany and France.

BRIEF: For the six months ended 30 June 2009, Metrovacesa S.A.'s total revenue decreased 43% to EUR212.1M. Net loss from continuing operations totaled EUR124.5M, vs. a net profit of EUR130.9M. Total revenue reflects a decrease in the demand for Company's products and services. Net loss from continuing operations reflects loss on equity as well as significantly worsened operating margins due to higher expenses from sale of assets and negative other result.