The following map of Europe indicates the countries in which AEZ is invested along with the current percentage allocation to each country at 30 June 2008.

The images below display location maps in which AEZ has investments, with corresponding photographs of a selection of properties in these countries.

Spain 28%

Spanish AEZ property locations highlighted	Cuadernillos, Madrid
Festival Park, Majorca	La Vega, Madrid

Germany 28%

German AEZ property locations highlighted	Centrum, Halle
Lowen Centre, Leipzig	Roller Portfolio (7 properties across Germany)

Greece 18%

Greek AEZ property locations highlighted	Carrefour Portfolio (16 properties across Greece)
City Gate, Thessaloniki	Carrefour Portfolio

Romania 12%

Romanian AEZ property locations highlighted

City Mall, Bucharest

Austria 10%

Austrian AEZ property locations highlighted

Traisenpark, St Polter

Poland 2%

Polish AEZ property locations highlighted

Manhattan Shopping Centre, Gdansk

Italy 3%

Italian AEZ property locations highlighted

San Giuliano, Milan