Interim report on the current state of affairs of the main group companies

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(1)Embargo until May 26th 2008 - 7.30 a.m. Antwerp, 26 May 2008. Interim report on the current state of affairs of the main group companies (Regulated information in the sense of the Royal Decree of 14 November 2007). CONTRACTING, DREDGING AND CONCESSIONS With the fleet almost fully in use, DEME witnessed an extremely high degree of activity in the first quarter, which leads to the anticipated increase in turnover and result. DEME also continues to top up its order book (EUR 1,766 million for 1Q08 against EUR 1,811 million at 31.12.07), thanks in part to new contracts in the Emirates, Brazil, Australia and Panama. The inauguration and commissioning of the Breydel (9,000 m³) last week brought the first phase of its investment programme to a close. Early 2008, DEME announced a new investment scheme worth around EUR 500 million and designed to bring about 10 dredgers and other specialised marine equipment into service between now and 2011. ALGEMENE AANNEMINGEN VAN LAERE saw its activities progress as normal and has a rather wellfilled order book. AvH made its first steps into the construction materials market in INDIA. It accumulated a participating interest of 14.32% in the exchange-listed family owned SAGAR CEMENTS. Sagar Cements Ltd. has a clincker production capacity of 0.6 MTPA in the southern state of Andra Pradesh. Encouraged by the growth perspectives in the market, the company recently started to expand its capacity to 2.6 MTPA. The start up of the additional capacity will be for June this year. Sagar Cements has a market capitalisation of approximately EUR 77 million (5 billion Rs.).. REAL ESTATE AND RELATED SERVICES. At LEASINVEST REAL ESTATE, the occupancy rate (96.46% v 97.74%) and rental yield (7.14% v 7.21%) have remained at a very respectable level. The fair value of the real estate portfolio as per 31.03.08 amounted to EUR 468.9 million as opposed to EUR 441.1 million as per 31.12.07, thanks in part to the acquisition of a portfolio of 4 buildings ‘logistics & retail’ in the Antwerp region. Furthermore an agreement has been reached for the acquisition in terms of a logistical site of 50,000 m² near Brussels.. WorldReginfo - bf8ca1ea-1bd7-4bfc-abb1-069d19179dd2. EXTENSA’s real estate development activities continue to run according to schedule. Several residential parcellation projects have obtained the permits required to offer them for sale. Abroad too, local projects are progressing in the right direction..

(2) Embargo until May 26 2008 - 7.30 a.m. FINANCIAL SERVICES Despite the extremely volatile financial markets, BANK DELEN succeeded in partly offsetting the negative effect of the stock market with a significant net inflow through existing and new clients. The assets under management of Bank Delen at 31.03.08 amounted to EUR 11,521 million (against EUR 12,126 million at the end of 2007) and at the end of April thanks to the stock market recovery already EUR 11,900 million. The integration of Bank Delen and Capfi is progressing as hoped, both internally and with regard to the clientele. The election of Bank Delen early 2008 for the second time in a row as the “Best Private Bank” in Belgium has certainly supported client confidence in the Bank. Recently AvH has increased, through a participating interest of 15% in Promofi, its beneficial interest in Finaxis from 75% to 78.75%. In the framework of this transaction a value for Finaxis has been used of EUR 957 million. BANK J.VAN BREDA & C° continues to witness a positive development in its activities and its client base, which translates into a growth in off-balance sheet investments and fee income. Notwithstanding the negative interest curve the result for the first quarter remained stable compared to last year.. PRIVATE EQUITY In the first quarter, most participations developed in line with their budgets. For the time being, the slowdown in growth in the USA has not affected the business activities of most industrial participations, while the European consumer clearly is more careful in spending his family budget.. AvH & Subholdings Due in part to the influence of the financial markets on the group’s investment portfolio on the one hand, and the investments in Sagar Cements and Koffie F. Rombouts on the other hand, AvH’s net cash position fell to EUR 309.9 million at 31.03.2008 (against EUR 363.6 million at 31.12.2007).. Prospects 2008 The economic climate and the uncertainty at the financial markets induce to be prudent. Except in case of unforeseen circumstances, the board of directors expects a strong contribution to the group result of most of its participations.. WorldReginfo - bf8ca1ea-1bd7-4bfc-abb1-069d19179dd2. In the course of the first quarter, an opportunity arose to acquire a 20% minority interest in Koffie F. Rombouts NV. With a turnover of EUR 120 million in 2006 (net equity as per 31.12.06: EUR 22.4 million) Koffie F. Rombouts belongs as quality label to the market leaders in Belgium, with a strong presence in France..

(3) Embargo until May 26 2008 - 7.30 a.m.. Calendar 2008 4 June 2008 28 August 2008 17 November 2008 6 March 2009. payment of dividend announcement of the semestrial results 2008 interim report 3Q08 announcement of the annual results 2008. Ackermans & van Haaren is a diversified group active in 4 key sectors: contracting, dredging and concessions (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), Real Estate and related services (Leasinvest Real Estate, a listed real-estate investment trust with real estate assets of approximately 460 million euros – Extensa, an important land and real estate developer focused on Belgium, Luxemburg and Central Europe), private banking (Bank Delen, one of the largest independent private asset managers in Belgium – Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions) and private equity (Sofinim, one of the largest private equity providers in Belgium, and GIB). The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is approximately 2.3 billion euros. The AvH share has been included in the reference index BEL20, the Private Equity NXT index of Euronext Brussels and as of 23 June in the European DJ Stoxx index 600.. For further information please contact: Luc Bertrand CEO – President of the Executive Committee tel: +32.3.231.87.70 e-mail : dirsec@avh.be Jan Suykens Member of the Executive Committee tel: +32.3.897.92.36 e-mail : dirsec@avh.be. WorldReginfo - bf8ca1ea-1bd7-4bfc-abb1-069d19179dd2. Website All press releases issued by AvH and its most important group companies as well as the ‘Investor Presentation’ can also be consulted on the AvH website: www.avh.be. Anyone who is interested to receive the press releases via email has to register again to this website, under the 'News' section..

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