Interim Report for the Period 1 January - 30 June 2009 As in previous years, Tivoli holds its supervisory board meeting on Tivoli's birthday, 15 August, even though it is a Saturday this year, which is why the Interim Report is published on a Saturday. The Supervisory Board of Tivoli A/S has at the board meeting considered and adopted the In-terim Report for the period 1 January - 30 June 2009. Results at 30 June 2009 in outline: • Revenue including tenants and lessees: DKK 338.0 million compared to DKK 358.5 million last year. • Consolidated revenue: DKK 217.7 million compared to DKK 210.3 million last year. Nimb is recognised at DKK 21.8 million in 2009. • EBIT: a negative DKK 55.8 million compared to a negative DKK 38.4 million last year. • Loss before tax: DKK 61.9 million compared to a loss of DKK 45.2 million last year. • Loss after tax: DKK 46.4 million compared to a loss of DKK 34.6 million last year. • Number of guests at 30 June 2009: 1,218,000 compared to 1,238,000 guests at 30 June 2008. "This is a complicated Interim Report to approach as Tivoli has changed its financial year, has taken over Nimb and merged this company with Tivoli. The overall conclusion is that Tivoli is also affected by the crisis. This is reflected in revenue, and with the number of guests almost at the same level as last year, it can be concluded that Tivoli's guests spend less money this year. Like in the rest of society this is clearly felt in the restaurants where our rental income has been materially reduced. The decrease in revenue per guest is widely attributable to the different mixture of guests. Copenhagen lacks tourists and so does Tivoli, and traditionally a tourist spends more money than a local guest. And of course Tivoli also feels that trade and industry are experiencing difficulties and therefore have fewer activities such as business dinners and meetings in the Garden ", says Lars Liebst, and he continues: "We still expect the number of foreign guests to be disturbingly low also for the remaining part of 2009. But at the same time we are pleased to see a good development in July and a really good beginning of August with many happy guests in Tivoli. On this basis we maintain the expectations for a profit before tax of DKK 30-40 million". The Supervisory Board has today finally approved that Nimb A/S and Tivoli International A/S are merged with Tivoli A/S with retroactive effect at 1 January 2009. Previously Tivoli Inter-national A/S was a wholly owned subsidiary, whereas Nimb A/S (previously Løgismose-Nimb A/S) was a joint venture which was fully taken over at 1 January 2009. Until 31 De-cember 2008 Nimb A/S was only recognised with a share of results under financial income and expenses and with an investment in the balance sheet. Therefore there are major changes in the items of the income statement and the balance sheet when comparing the figures real-ised in 2008 and 2009. Outlook for 2009 Based on the development in July and the first part of August the expectations for a profit be-fore tax of DKK 30-40 million are maintained. Expected revenue is scaled down to approxi-mately DKK 610-630 million from the expected revenue in the amount of DKK 650-670 million previously announced. Please see the full report in the attached document. Yours sincerely Jørgen Tandrup Lars Liebst Chairman of the Supervisory Board CEO Contact person: Stine Lolk, Deputy Director, HR & Communications (tel +45 33 75 03 38 / sl@tivoli.dk)