DDE Develica

 

TIDMDDE 
 
RNS Number : 7401K 
Develica Deutschland Ltd 
23 April 2010 
 

FOR IMMEDIATE RELEASE 
 
23 April 2010 
 
                          DEVELICA DEUTSCHLAND LIMITED: 
                  FAIR VALUE ADJUSTMENT OF INTEREST RATE SWAPS 
 
Develica Deutschland Limited ("Develica" or "the Company"), the AIM-listed 
German property investor, today announces that the unaudited fair value 
adjustment of its interest rate swaps as at 31 March 2010 showed a liability of 
approximately EUR62.9m compared to a liability of EUR60.6m at 10 December 2009. 
 
The Company emphasises that the value of the interest rate swaps has no cash 
impact on the business or on Develica'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 
            Baron Phillips, Baron Phillips Associates.                      Tel: 
020 7920 3161 
 
                 07767 444193 
Philip Secrett, Grant Thornton Corporate Finance.        Tel: 020 7728 2578 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCBLGDSXSDBGGX 
 

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