DDE Develica

TIDMDDE

RNS Number : 0231Z

Develica Deutschland Ltd

06 January 2011

FOR IMMEDIATE RELEASE

6 January 2011

DEVELICA DEUTSCHLAND LIMITED:

FAIR VALUE ADJUSTMENT OF INTEREST RATE SWAPS

Develica Deutschland Limited ("the Company"), the AIM-listed German property investor, today announces that the unaudited fair value adjustment of its interest rate swaps as at 31 December 2010 showed a liability of approximately EUR45.1m compared to a liability of EUR51.6m at 30 September 2010.

The Company emphasises that the value of the interest rate swaps has no cash impact on the business or on the Company's debt covenants. The swaps are held in a special purpose vehicle and the above liabilities would only crystallise on disposal.

Develica intends to continue reporting the current fair value adjustment of its interest rate swaps on a quarterly basis.

Ends.

Contact:

Derek Butler, Chairman, Develica. Tel: 020 7016 1860

Philip Secrett, Grant Thornton Corporate Finance. Tel: 020 7383 5100 This information is provided by RNS

The company news service from the London Stock Exchange

This information is provided by RNS

The company news service from the London Stock Exchange

END

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