Press Release: Eastern Property Holdings Limited (EPH): First Quarter 2016 Financial Update

Eastern Property Holdings Limited (EPH) / Eastern Property Holdings Limited (EPH): First Quarter 2016 Financial Update . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

30 May 2016, Road Town, Tortola, BVI

FINANCIAL HIGHLIGHTS

-- The performance of the Company's income-generating properties is almost not impacted by the overall decline in the Russian market and continues to demonstrate high profitability;

-- The volatility of Rouble/US Dollar exchange rate continues to be one of the main factors affecting the Company's operating results;

-- Deferred part of the purchase price of Hermitage Plaza in the amount of US$ 100.9 million was paid in March 2016 resulting in tangible decrease in the Company's accounts payable;

-- Strengthening of Rouble against US dollar during Q1 2016 led to increase of Arbat development property value which is carried at cost nominated in Roubles;

-- NAV as of 31 March 2016 is slightly higher than as at 31 December 2015 (assuming that the real estate valuations done as of 31 December 2015 are unchanged).

Significant Q1 2016 Income and Expense Items

Net Rental Income 31.03.2016 31.03.2015 Change YoY Berlin House 3,910,323 3,945,745 -35,422 Geneva House 3,639,876 3,978,745 -338,868 Polar Lights 3,326,352 3,771,171 -444,819 Hermitage Plaza 6,423,991 6,050,247 373,744 Magistral'naya 128,353 139,449 -11,096 Total 17,428,896 17,885,357 -456,461

YoY changes in Income/Expense Items 31.03.2016 31.03.2015 Change YoY Net foreign exchange gain/ (loss) -34,696,378 -5,901,067 -28,795,311 Finance costs -8,540,327 -8,051,124 -489,203

Significant Q1 2016 changes in Financial Position

Assets 31.03.2016 31.12.2015 Change Cash & cash equivalents 24,518,218 127,772,076 -103,253,858 Assets under development 64,442,137 57,656,429 6,785,708

Liabilities 31.03.2016 31.12.2015 Change Accounts payable and accrued expenses 88,313,179 198,552,400 -110,239,221

Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.

Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: +41 44 503 5400.

EPH_Q1 Trading Update: http://hugin.info/139905/R/2016439/747857.pdf

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Eastern Property Holdings Limited (EPH) via Globenewswire

HUG#2016439

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Eastern Property Holdings Limited (EPH)

Valartis Asset Management SA Geneva Switzerland

WKN: 250817;ISIN: VGG290991014;

http://www.easternpropertyholdings.com/ (END) Dow Jones Newswires

   May 30, 2016 13:30 ET (17:30 GMT)- - 01 30 PM EDT 05-30-16