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News Kardan 28-05-2009

EFFECTS OF ECONOMIC CRISIS IMPACT KARDAN Q1-2009 RESULTS

Net loss for the quarter of EUR 18 million (Q1-2008: profit EUR 13 million)
Financial Services: Improved liquidity on account of profitability to maintain valuable platforms
Financial Services: Devaluation of local currencies and provisions on loan portfolio negatively impacted P&L as well
Real Estate: Despite difficult markets, record new rental agreements for 60,000 sqm of space and strong liquidity position
Water related Infrastructure increased backlog compared to March 31, 2008 by 28%
Kardan and Group companies focus on liquidity until turmoil in financial markets calms down

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