Wereldhave Property Corp.

Wereldhave NV
07 December 2006


                                 PRESS RELEASE

               WERELDHAVE PROPERTY CORPORATION PLC ('Wereldhave')


  £30,000,000 nominal 9 1/2 per cent. First Mortgage Debenture Stock due 2015
                         (the '9 1/2 per cent. Stock')
  £20,000,000 nominal 10 3/4 per cent. First Mortgage Debenture Stock due 2015
                         (the '10 3/4 per cent. Stock')
                            (together the 'Stocks')



Wereldhave today announces an offer to purchase (the 'Offer to Repurchase') up
to £20,000,000 nominal amount of the Stocks. Any Stock purchased pursuant to the
Offer to Repurchase will be cancelled.

Pursuant to the Offer to Repurchase, Wereldhave has asked The Royal Bank of
Scotland to solicit offers from holders of the Stocks to offer for repurchase
some or all of their respective holdings for redemption at a minimum margin of
60 basis points (0.60 per cent.) over the semi-annual gross redemption yield of
the 4.75 per cent. Treasury Stock 2015 (the 'Reference Stock').

It is envisaged that existing holders will offer their Stock for repurchase at a
margin of 60 basis points or more above the gross redemption yield of the
Reference Stock. Wereldhave will only accept offers for repurchase at margins
greater than or equal to 60 basis points above the gross redemption yield of the
Reference Stock. However, the price set will, in accordance with Condition 5 as
set out in the Second Schedule of the Trust Deed governing the Stocks, not
exceed 115 per cent. of the middle market quotations therefor (as derived from
the Stock Exchange Daily Official List) for the business day last preceeding the
date of purchase.

The Offer to Repurchase will remain open until 10.00 a.m. (the 'Closing Time')
on 13 December, 2006 (the 'Closing Date') although Wereldhave reserves the right
to terminate the Offer to Repurchase at any time prior to the Closing Time. The
Redemption Price of the Stock successfully offered for redemption will be set at
11.00 a.m. on the Closing Date. If there are more offers from holders of the
Stocks than the Offer to Repurchase, the offers to repurchase will be accepted
first on the basis of the margin above the gross redemption yield of the
Reference Stock and, second, on the basis of the order in which such offers are
received.

On behalf of Wereldhave, The Royal Bank of Scotland reserves the right to reject
or accept any Stock so offered for repurchase at its sole discretion.

Wereldhave reserves the right to cancel or vary the Offer to Repurchase at any
time for any reason.



By Order of the Board

Brian Cook
Secretary


Registered Office:-
39 Sloane Street,
London SW1X 9WR 7th December 2006


Registered in England No. 295909
A member of the Wereldhave Group




Contacts:

Wereldhave N.V.

Charles Bloema, Corporate Treasurer                           [phone]



The Royal Bank of Scotland plc

Andrew Burton, Head of Liability Management                   [phone]
Mike Hardman, Head of UK Sales                                [phone]
Stuart Montgomerie, Head of European Corporate Syndicate      [phone]




                      This information is provided by RNS
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