RomReal Ltd.

Earnings Release • Aug 28, 2014

RomReal : Second Quarter (Q2) 2014 report and investor presentation.

RomReal : Second Quarter (Q2) 2014 report and investor presentation.

RomReal hereby announces the Second Quarter (Q2) 2014 highlights in relation to

the attached Second Quarter 2014 report and investor presentation:

Statutory Net Asset Value (NAV)

Under IFRS, the NAV was EUR 0.5 (NOK 4.3) per share at the end of Q2 2014, a

decrease of 1.4% compared to the end of Q1 2014.

Valuation

The Company has not made any changes to the land bank portfolio valuation since

the 2013 year-end independent valuation carried out by Knight Frank.

Financial Results

Pre-tax result in Q2 2014 of EUR 0.04 million. Total assets at end of Q2 2014

were EUR 33.6 million compared to EUR 33.8 million at end of Q1 2014.

Plot division and sales

With a view to increase the saleability of its land bank, the Company has

initiated in the last 6 months the division of one of its plots into smaller

ones. During Q2 2014 the Company sold 4 such small plots with a total area of

almost 2,000 sqm for a total value of EUR 160,000. Following an initial down

payment, remaining due amounts shall be received in instalments.

Brasov plot disposal after Q2 2014

After the end of Q2, the Company has entered into a pre-sale agreement for the

sale of its only land plot in Brasov for a price of EUR 1,050,000. The price is

marginally higher than the one in the latest independent valuation performed by

Knight Frank. The transaction is expected to close by 2Q 2015. The proceeds of

the sale, including the already received down payment will be used to reduce the

Company's bank debt.

Macro news

Romania's GDP growth slowed somewhat in the second quarter of 2014, driven by a

setback in industry and export growth. According to the Budget Minister, the

slowdown poses no threat to the Government's annual target of 2.8 per cent as

Romania has room to boost state spending. There has been considerable fiscal

adjustment since the start of the crisis, which brought the budget deficit down

to 2.5 per cent of GDP in 2013. Public debt is low by regional standards at

around 38 per cent of GDP.  On an annual basis Romania still has one of the

highest GDP growth rates in Europe.

The Government has announced the intention to adopt the euro as of 01 January

2019. The new target should be achievable provided inflation remains controlled

and the Government remains committed to low fiscal deficits and moderate levels

of public debt.

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

tomorrow, Friday, 29 August 2014, 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: 273 246#

For further information please contact:

Harris Palaondas

Investor Relations

+0040 731 123 037

investors@romreal.com / info@romreal.com / www.romreal.com

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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