Corio's Q1 2012 direct result increased by 2.6%

FINANCIAL HIGHLIGHTS Q1 2012
(Comparative figures for Q1 2011 results in brackets, unless stated otherwise)

· Net rental income up 3.3% at € 101.2 m (€ 98.0 m).
· Like-for-like net rental growth retail portfolio: 1.4% (2.1%).
· Footfall on like-for-like basis increased 1.1%.
· Positive reletting and renewals: 2.7% up for 1.9% of the retail contracts.
· Financial occupancy rate for the retail portfolio increased slightly: 96.2% (96.0%).
· Net direct financing expense down € 1.5 m to € 24.6 m (€ 26.1 m).
· Direct result up 2.6% to € 67.9 m (€ 66.2 m).
· Direct result per share up € 0.01 to € 0.74 (€ 0.73).
· Valuation retail portfolio stable, revaluations retail € 8.0 m negative (€ 28.4 m).
· Net result at € 40.1 m (€ 87.1 m).
· Value of the property portfolio: € 7,457.8 m at 31 March 2012 (year-end 2011: € 7,426.5 m);
· Percentage invested in retail: 97% (year-end 2011: 97%).
· Leverage: 40.9% at 31 March 2012 (year-end 2011: 41.0%); average interest rate Q1 2012: 4.1% (Q4 2011 4.1%); fixed interest debt 69% (year-end 2011: 64%).
· Corio closed € 250 m under a Euro Commercial Paper program.
· Pipeline: decrease of € 150 m to € 2,362 m (31 December 2011: € 2,512 m).
· Committed pipeline (including already paid of € 120.7 m) decreased € 175 m to € 751 m.
· Net Asset Value (NAV) per share at € 45.98 (year-end 2011 € 45.57), NNNAV per share at € 47.45 (year-end 2011: € 47.15).

BUSINESS HIGHLIGHTS Q1 2012
· Corio sold the office in Böblingen in January 2012 for € 14.9 m.
· Opening of Arneken Galerie in Hildesheim (investment of: €110.3 m, NTY: 6.8%).
· Opening of Tarsu shopping centre in Tarsus (investment of: € 53.7 m, NTY: 8.7%).

EVENTS AFTER REPORTING DATE
· Corio closed an additional € 80 m under a Euro Commercial Paper program in April 2012.
· The redeveloped top floor of Maremagnum was opened in April 2012.
· Corio's AGM approved the proposed dividend of € 2.76 in cash or shares, in line with its long standing policy to increase dividend per share with average inflation in the euro zone.