SOURCE: PARQUESOL

April 30, 2007 07:48 ET

PARQUESOL : 2007 Outlook and Strategy

MADRID, SPAIN -- (MARKET WIRE) -- April 30, 2007 -- Parquesol's Future Outlook and Strategy

YEAR-END FORECASTS

Although the first-quarter results cannot be extrapolated to end-2007 figures, in the absence of additional information, we expect full-year sales and profits to decrease by 10% to 15%, in line with forecasts in the May 2006 IPO. As usual at Parquesol, accounting revaluations of our assets are not included in results.

STRATEGIC PLAN

Independently of the actual Plan in progress, the Board of Directors is set to unveil a new Strategic Plan that could include some form of corporate action and would provide Parquesol with further scale in its main figures. This Plan shall be released as appropriate in accordance with the periods set out in the public tender offer's Prospectus.

INVESTMENTS

Aside from possible corporate actions related to the public tender offer, investments of EUR 84 million in land and EUR 125 million in property -- as established in the Plan issued in the IPO -- are maintained for 2007.

POSITION ON FIRST HOMES AND PROPERTY

The main objective is to provide Parquesol with enough protection and stability for the future, with its policy of continuously focus on first homes and a clear commitment to property diversification already started in 2006.

STABLE, LASTING GROWTH

Productivity gains combined with a healthy balance sheet augur stable, lasting growth for Parquesol's business.

SHAREHOLDER REMUNERATION

In accordance with the agreements set out in the IPO prospectus, the Board of Directors will propose to the AGM to maintain the past dividend policy, with an around 28% payout from 2006's results expected to be distributed in 2007

Manuel Enrich

Director Strategy and External Relations

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