Keops EjendomsObligationer V, annual report 2006

The Supervisory Board considers the Company's profit before tax of DKK 322.9 million very satisfactory.

Adjustment of the property's value as well as debt amounts to DKK 313.3 million before tax. Equity amounts to DKK 278.0 million at 30 September 2006, which is DKK 208.4 million higher than budgeted in the prospectus.