Press releases - 2006

Aberdeen Property Investors’ recently launched Aberdeen European Balanced Property Fund raised EUR 96 million from institutional investors at its first closing of Class A shares at the end of October. A second closing is expected to take place in January 2007.

Aberdeen Property Investors’ recently launched Aberdeen Property Funds SICAV Pan-Nordic successfully completed its initial closing on the 31st October. The fund raised EUR 125 million from investors in Norway, Finland, Sweden, the Netherlands, France and the United Kingdom. The fund expects to invest this capital within the next three months. Its current investment capacity is in excess of EUR 300 million.

Aberdeen Property Fund Sweden announces the acquisition of a portfolio of nine properties with a combined real estate value of approximately EUR 77 million. The properties were sold by Diös & Kuylenstierna and the deal was configured as a corporate transaction.

Aberdeen Property Investors’ recently launched Asian fund of property funds (AIPP Asia) successfully completed its initial closing on the 20 October with three institutional lead investors and commitments of USD 91 million. The lead investors are Swedish Folksam, Handelsbanken Liv and Finnish Ilmarinen.

The Nordic property markets are continuing to recover with rental levels increasing in most markets and vacancies generally moving lower across most cities and sectors. The recovery is underpinned by strong fundamentals.

Aberdeen Property Investors expects the total return on Swedish properties to reach 11.8 percent this year. This represents an upward adjustment of 1.7 percent compared with the forecast of 10.1 percent made in December 2005.

For the second consecutive year, Aberdeen Asset Management plc has been named the leading investment manager for Western Europe and the Nordic & Baltic regions in the Euromoney Awards for Excellence in Real Estate. In addition, Aberdeen’s strong performance has earned it the top position in the Global category.

Aberdeen Property Investors and L’Etoile Properties form strategic partnership to develop property asset management services for the French property market

Aberdeen Property Investors, a leading European investment manager today launches a new Pan-Nordic property fund for international institutional investors.

Aberdeen Property Investors expands its fund activities and launches two new international fund products, designed mainly for German investors.

Aberdeen Property Nordic Fund I SICAV, a property fund launched by Aberdeen Property Investors, has signed an agreement, subject to conditions not yet fulfilled, to purchase the first part of Falcon Business Park in Espoo, Finland from NCC Property Development Oy. The fund has also tentatively agreed to purchase three additional parts in the future.

Aberdeen, the European leader in indirect property investments, expands the property business into Asia with the launch of an Asian Fund of property funds

Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property In-vestors Finland Oy, has signed an agreement to purchase four properties from the Pension Fund of Valio (Valion Eläkekassa).

Aberdeen Property Fund Denmark has acquired five commercial properties in Ballerup, Copenhagen. The total size of the properties is equivalent to 44,500 m2.

Aberdeen Property Investors The Netherlands BV has purchased from Rodamco Europe a portfolio of assets, including 150 individual centre-location unit shops across the Netherlands.

Aberdeen Property Investors’ recently launched Property Fund Sweden has acquired its first three properties; an office building in Gothenburg and two retail properties in Uppsala, north of Stockholm, for approximately EUR 12 million. The fund intends to make further acquisitions in the near future.

Aberdeen Property Investors is launching a new property fund designed to invest in a balanced and well diversified portfolio of real estate in Sweden.

Aberdeen’s Danish property fund (API Property Fund Denmark P/S) is pleased to announce that it has received an additional investment of DKK 198.6 million (€26.5 million) from three investors, including a major global fund manager who has invested through its European fund-of-funds.

Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property Investors Finland Oy, has signed agreements to purchase 16 properties.

Aberdeen expands into France with the recruitment of Mr Jacques-Yves Nicol as Managing Director of Aberdeen Property Investors France.

Aberdeen Property Investors has raised SEK 200 m for the first closing of its Swedish property fund, implying total investment capacity of SEK 500 m, for investment in Swedish real estate with a balanced and well-diversified portfolio strategy (core plus).

On behalf of Nordea Liv & Pension, the life and pensions arm of northern European financial services group Nordea, Aberdeen Property Investors has reached an agreement with AxFast on a property swap deal worth nearly SEK 700 m. The transaction relates to the acquisition of retail and logistics properties in central Sweden, and the sale of office premises in Stockholm.

Aberdeen Property Investors (Aberdeen) today announced the final closing of Aberdeen Indirect Property Partners (AIPP), Europe’s largest pooled property fund of funds. The fund, which was oversubscribed, is the first of its kind in Europe backed by a pan-European group of institutional investors. With total equity of €623.5 million AIPP will build up a gross real estate exposure of some €1.9 billion through investments in a number of property funds across Europe.

Investors have committed an additional NOK 250 m (approx €30m) in equity in the second closing of the Norwegian property fund, Aberdeen Property Fund Norway II (Aberdeen Eiendomsfond Norge II ASA).

Aberdeen Property Investors has attracted €45 million for the first closing of its new Finnish property fund. The investment  has come from pension funds, institutions and corporations such as the Local Government Pensions institution, Suomi Mutual Life Assurance Company, Seamen’s Pension fund and the Local Insurance Group.