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Interim Management Statement for 3 months ending 31 March 2008.

Commenting on the period under review, John Burns, chief executive officer of Derwent London, said: “Through the ownership of a portfolio with reversionary rents, an average unexpired lease length of just under nine years and a flexible development pipeline underpinned by income, we are well positioned for these uncertain economic conditions. Additionally, we continue to be in excellent financial health with a strong balance sheet and low gearing of 44.7%. With over £300 million of unutilised bank facilities, we are well placed to make acquisitions if the right opportunities become available.”