* Adjusted Net Asset Value per share* 765.8 pence, up by 0.2 per cent from 764.2 pence at 31 December 2007 (Statutory NAV per share 623.9 pence, up 4.8 per cent from 595.1 pence at 31 December 2007).

* Adjusted net assets* compared to market capitalisation £501.3 million compared to market capitalisation of £223.4 million as at 30 June 2008, a discount of 55 per cent. (Statutory net assets including deferred tax provision, £408.4 million).

* Property portfolio valued at £876.0 million, down 25.5 per cent from £1,175.3 million at December after taking into account disposals of £315.6 million and a revaluation decrement of £26.6 million.

* Period end cash £176.9 million up by 45 per cent from £122.0 million at 31 December 2007.
* Borrowings £593.2 million down by 26 per cent from £798.7 million at 31 December 2007.
* Adjusted gearing* was 83.7% compared to 131.7% at 31 December 2007 (Statutory gearing was 102.8% compared to 169.1% at year end).

* Foreign currency translation gains on net assets of £15.2 million were taken to reserves.
* Net rental income £34.2 million, up 5.6 per cent from £32.4 million for six months to 30 June 2007.
* Underlying profit* £13.6 million up 63.9 per cent from £8.3 million for the six months ended 30 June 2007.
* Loss before tax £24.6 million, (six months to 30 June 2007: profit £31.9 million).
* Proposed distribution of 1 in every 25 ordinary shares by way of a tender offer at 425 pence per share, equivalent to 17 pence per share.

source : CLS Holdings plc