RomReal Ltd.

Earnings Release • Aug 27, 2015

RomReal : Second Quarter (Q2) 2015 Report and Investor Presentation.

RomReal : Second Quarter (Q2) 2015 Report and Investor Presentation.

RomReal hereby announces the highlights of the second quarter (Q2) 2015 in

relation to the attached second quarter 2015 report and investor presentation:

Net Asset Value (NAV)

* Net Asset value was EUR 0.47 (NOK 4.04) per share at the end of Q2 2015, a

1.3% decrease compared to the end of Q1 2015.

Operational highlights

* The Company completed the sale of the Brasov plot and also sold 2 more plots

in Tatar Peninsula. The proceeds were used to pay down bank debt.

* Following the end of the reporting quarter, the Company sold 3 more plots in

the Tatar Peninsula for a total consideration of circa EUR 225,000. The

Company has now sold 12 of 15 plots at Tatar Peninsula.

* On 10 July 2015, RomReal announced the approval of a partial and conditional

sale of 1,956 sqm of the Balada market plot, for a net price of EUR 537,900.

* All concluded or pending asset sales are done on or above the carrying IFRS

value.

Financial Results

* Net loss of EUR 866,000 in 2Q 2015 compared to profit of EUR 98,000 in

2Q 2014. The loss is mainly explained by currency effects. Operating cash

flow for the quarter was minus EUR 109,000 compared to minus EUR 159,000 in

the same period last year. Due to asset sales and reduction of bank debt,

net cash flow was almost in balance during the quarter.

* The Company has repaid EUR 893,000 of the bank debt.

Macro and real estate market highlights

* The Romanian economy continues to perform well. Romania's GDP increased

4.3% in 1Q and 3.2% in 2Q 2015 (compared to same period last year). The

National Bank forecasts a GDP growth of 4% for 2015, a view that is shared

by analysts of the most important banks in the market.

*  Private consumption was the main source of the advance on the back of

growth in employment and wages. The macroeconomic environment is solid with

low inflation and fiscal and external deficits. However, unless matched by

private and public investments, the rapid growth in consumption risks

creating deficits.

* The real estate market continues to recover. The transaction volume has kept

up with last year and land transactions for office and residential projects

gain momentum. Residential developers re-enter the market with adjusted

projects previously put on hold, and developers try out projects with higher

price tags. Apartment prices continue to rise. In Bucharest, prices are

almost flat, in Constanta prices have already increased 6.1% compared to

last year as of July 2015.

* A reduction of the VAT in Romania from 24% to 20% has been agreed today by

the government. The reduction is expected to take effect from the 01 January

RomReal invites investors, analysts and media to a conference call, to be held

on Friday, 28 August 2015, at 9.00 a.m. Oslo time. Those who would like to

attend the conference call are invited to dial:

Participant Joining Details

UK Freefone: 0800 389 7473

UK Direct: 01296 480 180

International direct: +44 1296 480 180

Global Access Numbers: http://www.btconferencing.com/globalaccess/?bid=54_auto

mated

Global Access Numbers are in-country toll free or local dial-in numbers for

this conference. Give this URL to anyone -- both speakers and participants --

joining the conference so they can find the appropriate in-country dial-in

number. You can also use these Global Access dial-in numbers if you are

travelling.

Passcode: 875 824#

For further information please contact:

Harris Palaondas

RomReal Ltd - Investor Relations

+0040731123037

www.romreal.com

investors@romreal.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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