Date: October 2002
Financings

Capital Trust Group (“CTG”) has concluded two financings Q3'02 returning in excess of $68million/£44million to Clients. The refinancings of prime assets in Stockholm, Sweden and Knightsbridge, London were completed with Eurohypo AG and Société Générale respectively. The weighted cost of money obtained was very favorable.

Nick Judd Real Estate Fund manager noted, “both financings have enabled Shareholder return in excess of the investment equity. The current market uncertainties are leading our clients increasingly to a “refinance & hold” investment strategy”.

European Real Estate Director, Esme Lowe comments “shareholder return remains our primary objective and our investment focus on value and opportunity continues to deliver superior returns. Currently European Real Estate Funds under management total approx. £250m, 90,375m²/972,796sqft.

CTG is actively reviewing a number of investment opportunities and is cautiously optimistic about prospects for ongoing performance from the property sector.