Bouwinvest received a management fee of in total € 27.9 million (2013: € 27.3 million), of which € 25.7 million (2013: € 24.3 million) is based on the assets under management and € 2.2 million (2013: 3.0 million) is based on other mandates and

 20142013 Wages and salaries10,75310,553 Social security charges1,2131,116 Pension fund charges1,8001,911 Temporary staff989980 Other personnel costs2,2592,255 Total17,01416,815 Download XLS The pension fund

 20142013 Office expenses2,1312,270 Automation expenses2,7532,963 Communicactions expenses523626 Consultancy costs411334 Research and Investor Relations costs249236 Other

 20142013 Result from group companies(569)576 Result from other participations23876 Result from participations(331)652 Download XLS

 20142013 Other interest income214 Interest income214 Download XLS

 20142013 Result before taxes2,9532,653     Corporate income tax(727)(653) Income from tax loss carry-forward9472,903 Corporate income tax previous years-- Total2202,250 Download XLS

Amsterdam, the Netherlands, 16 March 2015 The Board of Directors Dick van Hal, Chairman of the Board of Directors and Statutory Director Arno van Geet, Managing Director Finance Allard van Spaandonk, Managing Director Dutch