During the first six months of the 2008/09 financial year, TK Development
recorded a profit of DKK 50.9 million after tax. The market deterioration has
caused the Group to reduce its profit expectation for the 2008/09 financial
year to about DKK 200 million after tax against its previous expectation of
about DKK 300 million after tax. 

Summary: 

?	In the first six months of 2008/09, TK Development realized a profit after
tax of DKK 50.9 million, against DKK 57.9 million in the first half of 2007/08. 
?	Consolidated equity totalled DKK 1,521.7 million at 31 July 2008,
corresponding to a solvency ratio of 38.9 %. 
?	In June 2008, TK Development sold its share of Futurum Ostrava in Ostrava and
Haná Shopping Centre in Olomouc, the Czech Republic, to the property fund
manager Pradera - AM PLC. 
?	The Group's project portfolio comprised 1,168,000 m˛ at 31 July 2008, about
the same level as at 30 April 2008. 
?	In June 2008, TK Development exercised its option to buy the remaining stake
in Euro Mall Holding A/S from the Investment Fund for Central and Eastern
Europe. Thus, TK Development is now the sole owner of the Central European
activities. 
?	The current market conditions have meant that the Group has postponed a few
of its projects, including the sale of land in Poland and Denmark. 
?	For the 2008/09 financial year, the Group now expects a profit after tax of
about DKK 200 million against the previous expectation of about DKK 300
million.