Additional information to the Q1 2011 results

We published our Q1 2011 results this morning. Surprisingly we get the most questions about the time of our conference call - but there won't be any!

Other questions & answers:

• What is the latest NAV?
  The last valuation was done end of 2010 and the NAV per share was €26.16. If you applies the same calculation method with the numbers from the balance sheet you'll end up with €26.64 per share.
  

  Total equity

  €1,270,543 thousand

  + Deferred tax liabilities

  €  105,124 thousand

  NAV
  

  €1,375,667 thousand

  / number of shares

  51,631,400

  NAV per share

  €26.64
  

• What was the like-for-like turnover development of DES' tenants?
  Germany , incl. Austria, Hungary and Poland:
  comparison: German retail overall:
  DES' like-for-like revenue:
  
  
• Is the gearing really 107%?
  We apologise for this mistake. In fact the gearing is unchanged compared to 31 Dec. 2010 and amounts to 94%.