Intercontinental International REIC

Management Reports • Sep 12, 2016

INTERCONTINENTAL INTERNATIONAL REAL ESTATE INVESTMENT COMPANY S.A. "INTERCONTINENTAL INTERNATIONAL R.E.I.C.S.A " HCMC Decision 5/604/6.12.2011
Main Office: Marina Flisvos (building 4 office 1.02) Palaio Faliro, Postal Code 175 61 INVESTMENT SCHEDULE as of 30.06.2016
S/N	DESCRIPTION	LOCATION & ADDRESS	SURFACE in sq.m LAND BUILDING YSD			ACQUISITION COST (1)	TAX VALUE (2)	VALUE OF PROPERTY FAIR VALUE (3)	% ON TOTAL INVESTMENT	SURPLUS VALUE	CURRENT USE OF PROPERTY	TENANT
	1 Retail floor with basement and mezzanine 18‐18a'Akti Moutsopoulou Str.	Pasalimani ‐ Piraeus ‐ Attica	662,54	749,25	0,00	2.023.909,65	1.223.225,48	2.250.000,00	2,60%	226.090,35	Retail Shop	Alpha Bank
	2 Retail floor and basement	Ring road & Makrigianni Str. Ano Ilioupolis‐Stavroupolis‐ Thessaloniki	1.657,00	742,19	0,00	2.331.379,11	599.919,69	2.267.000,00	2,62%	-64.379,11	Retail Shop	Alpha Bank
	3 Independent building consisting of Retail floor , basement and A,B,C floors	104' Dekelias Ave. & Ag.Triados Str., Nea Filadelfia ‐ Attica	428,83	875,43	0,00	1.824.402,03	950.025,11	1.930.000,00	2,23%	105.597,97	Retail shop & Tutoring School	Alpha Bank - Housos Kon/nos & Co
4	Independent, listed building, consisting of four floors of office space,retail ground floor, basement and entresol	21' Ionos Dragoumi Str., Thessaloniki	451,15	1.974,82	641,85	5.564.477,92	3.842.775,36	5.490.000,00	6,34%	-74.477,92	Retail Shop	Alpha Bank
	5 Retail ground floor with basement & mezzanine	107' Kifissias Ave.& Panormou srt. Athens	556,50	830,00	0,00	2.423.804,38	1.579.591,56	2.500.000,00	2,89%	76.195,62	Retail Shop	Alpha Bank
	6 Retail ground floor with basement and mezzanine	32' Posidonos Ave.& 2' Ag.Alexandrou Str., Palaio Faliro ‐ Attica	1.509,39	672,46	0,00	3.040.415,86	1.757.074,21	2.860.000,00	3,30%	-180.415,86	Retail Shop	Alpha Bank
	7 Retail ground floor, two basements and A floor	155‐157' Elefteriou Venizelou Ave.(former 151‐153' Thisseos Ave.) Kallithea‐ Attica	838,92	1.072,23	0,00	3.048.164,12	1.827.975,77	3.750.000,00	4,33%	701.835,88	Retail Shop	Alpha Bank (Subleased to Public - Retail World S.A.)
	8 Retail ground floor with mezzanine	2' Eleftheriou Venizelou & Tabot Keffalinou & Rizospaston Str., at Solomou Square, Zakinthos	656,76	283,35	928,10	2.341.430,17	939.363,81	2.330.000,00	2,69%	-11.430,17	Retail Shop	Alpha Bank
	9 Retail ground floor with basement, mezzanine and A floor	2' Syngrou Ave.& Dionysiou Areopagitou & Tziraion Str., Makrygianni ‐ Athens‐Attica	224,53	630,75	0,00	2.726.223,05	1.641.620,23	2.680.000,00	3,09%	-46.223,05	Retail Shop	Alpha Bank
	10 Retail ground floor, basement and mezzanine	2‐4' Achilleos Str., Karaiskaki Square, Metaxourgio‐ Athens ‐ Attica	770,94	1.068,99	0,00	1.832.205,53	1.168.331,08	1.652.000,00	1,91%	-180.205,53	Retail Shop	Alpha Bank
	11 Independent building consisting of ground retail floor, basement, A and B floors	23' Andrea Kalvou (former 21' Vassileos Konstandinou ) Str., Nea Ionia ‐ Attica	359,73	880,65	105,26	1.520.330,84	583.032,92	2.000.000,00	2,31%	479.669,16	Retail Shop	Alpha Bank
	12 Retail ground floor, basement and A floor	Epirou & Iasonos & Pavlou Mela Str., Volos ‐ Magnisia	548,43	1.289,48	634,28	3.142.173,35	1.070.767,26	3.450.000,00	3,98%	307.826,65	Retail Shop	Alpha Bank
	13 Independent building consisting of ground retail floor and A,B,C floors	48' Polychroniou Konstanta & Ger.Lyhnou Str., Corfou	968,48	633,54	1.303,42	3.283.860,74	1.746.014,57	2.047.000,00	2,36%	-1.236.860,74	Retail shop & Open parking area	Alpha Bank/Dimitrios Moulinos
	14 Retail ground floor,two basements,semi‐ basement, A and B floors of office spaces	66' of 25th August & Arkoleondos Str., Heracklion, Crete	767,30	3.075,96	0,00	10.451.062,16	6.772.973,96	12.360.000,00	14,27%	1.908.937,84	Retail Shop	Alpha Bank (Subleased to H&M Clothing & Accesories)
	15 Commercial Building consisting of Retail ground floor, A and B floors of office spaces	Kymis Road & Eptalofou Str.opposite the Olympic Village , Acharnes	4.535,00	4.009,56	0,00	3.328.595,44	2.730.215,20	3.530.000,00	4,08%	201.404,56	IKA/Retail shops	IKA/Multiple commercial leases
	16 Retail ground floor with storage & parking space	24'Hatzikyriakou Str., Piraeus	1.840,30	576,93	0,00	1.847.939,79	1.077.894,85	1.880.000,00	2,17%	32.060,21	Retail Shop	I&S Sklavenitis S.A.
	17 Commercial residence	12' Vas.Georgiou & Rigillis Str., Athens‐Attica	444,94	349,38	0,00	968.259,71	1.538.051,42	1.640.000,00	1,89%	671.740,29	Commercial residence	Vacant
	TOTAL REAL ESTATE INVESTMENTS Cash Bank - Current deposits		17.220,74	19.714,97	3.612,91	51.698.633,85	31.048.852,48	54.616.000,00 269,94 500.000,00	63,05%	2.917.366,15
Bank - Time deposits TOTAL CASH & CASH EQUIVALENTS SECURITIES								28.782.473,07 29.282.743,01	33,81%
	TOTAL INVESTMENTS IN SECURITIES					ACQUISITION COST 2.690.755,89		SECURITIES FAIR VALUE 2.720.401,43	% ON TOTAL INVESTMENT 3,14%
	TOTAL INVESTMENTS Investment Receivables					116.659,86		86.619.144,44 Total Assets (Per IFRS)	100,00%		95.274.365,00
Investment Liabilities						30.494.287,04		Investment Evaluation Surplus as per L.2778/99 2.917.366,15
	NOTES : 1 There is a mortgage prenotation on the Invested Assets in favour of Alpha Bank (ex Emporiki Bank) for Euro 31.500.000,- 2 The lease period of the Assets (No.1-14) is for 20 years(2012-2032) including tenant's extention option at the expiry, for additional 6 years							Fair Value of R.E.Investments as per L. 2778/99 54.616.000,00 % Evaluated R.E.Investments on Total Assets 57,32%
except for the assets at No:13 (open parking area) where the lease is for 3 years and floors B & C of No:3 where the lease is for 12 years Total Cash & Cash Equivalents 32.003.144,44 3 The tenant Alpha Bank has resigned from its lease termination right for 15 years (2012-2027) % Cash & Cash Equivalents on Total Assets 33,59% 4 The Company has full ownership rights on all Invested Assets total Assets 5 The investment policy of the Company has the aim of continually improving the value and the quality of the invested assets
6 The Company started its Investment activities on March 2012.The percentage (63,05%) of the Invested Assets of the Total Investments will be further increased and will exceed 80% with the purchase of new Assets Athens August 8th' 2016 Chairman of the BoDs Managing Director Finance Director
Aristides Halikias ID No: AE 783893							Marios Apostolinas ID No: P594816				Gerasimos Robotis ID No: ΑΒ 595414
Report of factual findings in connection with the "Investment Schedule"
To the Board of Directors of Ιntercontinental International REIC We have performed the procedures prescribed and agreed with the Board of Directors of Intercontinental International REIC (the "Company") and enumerated below in accordance with the edict referenced 8/259/19.12.2002 of the Board of Directors
of the Hellenic Capital Market Committee as amended by the edict referenced 10/566/26.10.2010 and the article 25 of the Law 2778/1999 in relation to the Investment schedule as at 30 June 2016. The Company's management is responsible for preparing the aforementioned Schedule. We have undertaken this engagement in accordance with the International Standard on Related Services 4400 "Engagements to perform Agreed upon Procedures regarding financial information". Our responsibility is solely for performing the procedures described below and for reporting to you our findings.
Procedures performed and Findings: 1. The above "Investment Schedule" includes all the information in compliance to the article 25 of the Law 2778/1999 and the edict referenced 8/259/19.12.2002 of the Board of Directors of the Hellenic Capital Market Committee as amended by the edict referenced 10/566/26.10.2010 which relates to the real estate investment companies.
	2. The description of the Real Estate Properties which appear in the above "Investment Schedule" in the "Description of "Land and Buildings" column are identical to these included in the corresponding reports, issued by the Independent Valuator, with reference date 30.06.2016. 3. The values of the aforementioned investments in Real Estate Properties and securities which appear in the above "Investment Schedule" in the "Fair Value" column are identical to those included in the corresponding report issued by
	the Independent Valuator dated 30 June 2016. 4. The total fair value of investments in real estate properties which appear in the above "Investment Schedule" agrees with the corresponding amount of "Investment Property" which derives from the company's accounting records as at 30 June 2016.
5. The Condensed Financial Information which are included in the above "Investment Schedule" derives from the accounting records of the company as at 30 June 2016 and may have a difference in relation to the final interim financial information that will be compiled for the six month period ended at 30 June 2016. 6. The calculations in the above "Investment Schedule" are arithmetically accurate.
	Because the above procedures do not constitute either an audit or a review made in accordance with International Standards on Auditing or International Standards on Review Engagements, we do not express any assurance on the report beyond what we have referred to above. Had we performed additional procedures or had we performed an audit or review, other matters might have come to our attention, in addition to the ones reported above.
Our report is solely for the purpose set forth in the first paragraph and is addressed exclusively to the Board of Directors of the Company, so that the later can fulfil its responsibilities in accordance with the mandatory reporting requirements prescribed in the 8/259/19.12.2002 edict of the Hellenic Capital Markets Committee as amended by the edict referenced 10/566/26.10.2010. This report is not to be used for any other purpose, since it is limited to what is referred to above and does not extend to the interim condensed financial information prepared by the Company for the period ended 30.06.2016, for which we will issue a separate review report.
Athens, 08 August 2016
THE CERTIFIED AUDITOR PricewaterhouseCoopers S.A
	268 Kifissias Avenue 152 32 Halandri SOEL Reg. No. 113								Dimitris Sourbis SOEL Reg. No . 16891