ROM ProShares Ultra Technology

RomReal is pleased to announce two conditional sales agreements totalling gross EUR 17.75m to EUR18.15m before tax.

One of the two remaining development projects in Bucharest, Morii Lake, is agreed to be sold for a gross amount of EUR 2.65m, with closing date March 31, 2017. The Buyer has provided a guarantee of about 10 per cent of the transaction value.

Furthermore, the sale of the Mamaia North development project in Constanta, totalling a gross EUR 15.1m to EUR 15.5m is agreed, subject to approval from RomReal's and the Buyer's banking partner Alpha Bank. The Buyer has also provided a non-refundable down payment.

The selling price for Mamaia North is set to increase to EUR 15.5m, if a RomReal subsidiary is to win an on-going legal dispute with the local municipality regarding 1,453m2 part of the plot. This transaction is expected to be financed by taking over RomReal's mortgage loan, an initial cash payment and secured vendor financing.

The total prices agreed after tax are around 20 per cent above the most recent independent IFRS valuation by Knight Frank of December 2015. Knight Frank has also commenced a similar valuation for IFRS purposes for the accounting year 2016.

Chairman/CEO Kjetil Gronskag stated the following: "Subject to closing and payment schedule fulfilled, the transactions announced are considered game-changing for the Company. With an unleveraged balance sheet, an attractive remaining development portfolio and sensible liquidity status, RomReal is well positioned to pursue various value enhancing options from a position of strength".

For further information please contact:

Kjetil Gronskag
RomReal Chairman and CEO
Kjetil.gronskag@northbridgecp.com
+44 7767754119

Harris Palaondas
RomReal Investor Relations
harris.palaondas@ancorumbs.com
+40 731123037