Derwent London Plc http://www.alacrastore.com/company-snapshot/Derwent_London_Plc-2013715 Wednesday, October 15, 2008 8:22:55 PM 2013715 Derwent London Plc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/676194spcred/676194normThe latest Full Report from S&Pglobalstructured10/10/2008 1:01:57 PM400Full Report676194United KingdomReal Estate Management & DevelopmentEurope, Middle East, AfricaGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesFull ReportContracted cash flows (rents), which underpin high cash flow predictability Long average lease tenor, which is underrented on average Fully repairing and insuring leases with upward-only rent revision Large property portfolio in central locations of London Materially weakening real estate market fundamentals in the U.K. Weak cash flow coverage measures, with low EBITDA gross interest coverage Some development exposure and increasing asset rotation Gradual movement towards shorter average lease maturities The ratings on U.K.-based real estate company Derwent London PLC (Derwent London) reflect the group's strong balance sheet and the cash flow stability provided by its relatively large and strategically located property portfolio (valued at £2.5 billion as at June 30, 2008), which is let under long leases with upward-onlyGBR40403010 404030 4040 40Derwent London PLC348348EUROMIDAFRLMSO@LNFULLGBRLondon Merchant Securities PLC413213EUROMIDAFRLMSO@LNGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/676196spcred/676196normThe latest Summary from S&Pglobalstructured10/10/2008 1:01:57 PM175Summary676196United KingdomReal Estate Management & DevelopmentEurope, Middle East, AfricaGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesSummaryThe ratings on U.K.-based real estate company Derwent London PLC (Derwent London) reflect the group's strong balance sheet and the cash flow stability provided by its relatively large and strategically located property portfolio (valued at £2.5 billion as at June 30, 2008), which is let under long leases with upward-only rent reviews (through the duration of a lease) to a diverse range of tenants. They are constrained by rapidly deteriorating office real estate market conditions in the U.K., the company's relatively weak cash flow-based credit measures, a gradual shift towards shorter lease tenors and higher asset rotation, and ongoing, though carefully managed, exposure to real estate development. Derwent London concentrates on midsize office real estate assets, primarily in central London.GBR40403010 404030 4040 40Derwent London PLC348348EUROMIDAFRLMSO@LNSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/hmsc/873-pdfhmsc/873-pdfnormHemscott Company Fact Sheets provide business details, share data, valuation metrics, key statistics and dates, progress reports, major shareholders, directors, regulatory news, as well as five-year price charts, trading records and forecasts. 873Derwent London PLCDerwent London PLC9/17/2008 7:13:00 PM873-pdfDLN55424.00Derwent London PLC: Company Facts Reportfacts873-pdfCompany Profiles & FinancialsHemscott Company Reportshttp://www.alacrastore.com/storecontent/hmsc/873-xlshmsc/873-xlsnorm873Derwent London PLCDerwent London PLC9/17/2008 7:13:00 PMDLN55339.00Derwent London PLC: Company Insight Reportinsight873-xlsCompany Profiles & FinancialsHemscott Company Reportshttp://www.alacrastore.com/storecontent/ccbn/T1939350ccbn/T1939350norm... - Derwent London Plc - CEOGood morning everybody, I'm John Burns. Welcome to the results presentation. Today, Chris Odom will go through the financial data, Nigel George will give detailed commentary on the valuation and portfolio statistics. Unfortunately, Simon Silver has been delayed en route from the USA; find out about that in due course. Projects update will be covered by Paul Williams and David Silverman, and I'll talk to you about the market, our view of it. We will take questions at the end of the presentation. Now, people keep looking to us and asking for evidence that the occupier demand is weakening. Whilst we can all see what's happening to values and acknowledge the broader economic conditions, our progress on the leasing front has been extremely pleasing. We leased more space in the year to date than we did in the whole of ####, and this exceeded the December ERVs. Other achievements are three major planning consents obtained, and once again, consistent with Derwent strategy,... 8/29/2008 11:08:00 AMDerwent London plc54.0000FinalInterim 2008 Derwent London Plc Earnings Conference Call TranscriptDWV.L9:30am UKTTranscriptT1939350Credit & Investment ResearchThomson StreetEventshttp://www.alacrastore.com/storecontent/spcred/646648spcred/646648normThe latest Summary from S&Pglobalstructured5/6/2008 1:03:04 PM175Summary646648United KingdomReal Estate Management & DevelopmentEurope, Middle East, AfricaGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesSummaryThe ratings on U.K.-based real estate company Derwent London PLC (Derwent London) reflect the group's strong balance sheet and the cash flow stability provided by its relatively large and strategically located property portfolio (valued at £2.7 billion as at Dec. 31, 2007), which is let under long leases with upward-only rent reviews to a diverse range of tenants. The ratings are constrained by Derwent London's weak cash flow-based credit measures, a gradual shift towards shorter lease tenors and higher asset rotation, and ongoing, though carefully managed, exposure to real estate development. Derwent London concentrates on midsize office real estate assets, primarily in central London. Owning good-quality real estate assets in attractive locations in central London is relatively low-risk, as theseGBR40403010 404030 4040 40Derwent London PLC348348EUROMIDAFRLMSO@LNSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/479635bir/479635normDerwent London PLCUnited KingdomReal Estate: Property investment, refurbishment and redevelopment and trading655215312372102361179BHDLN4/24/2008 6:38:00 AM479635Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/ccbn/T1796835ccbn/T1796835norm... - Derwent London plc - CEOGood morning, everybody. Before I start, I've been asked to make an announcement. We are Webcasting the formal part of the presentation today for everyone. Q&A only available to those participating via the teleconference. Fine. The format today for the '## results. Chris will cover the results in the financials. I'm going to talk about the market summary. Nigel George is evaluation and statistics. And I will then update you on acquisitions and disposals. Simon Silver and Paul Williams will go through the projects. You see David Silverman here, who's recently joined the Board. We're delighted to say he can answer questions afterwards with us. We'd like to take questions at the end of the presentation, and there is a detailed appendix at the end as well. First of all, moving on, what we've done this year. Integration of LMS and Derwent Valley completed to create Derwent London. The REIT conversion at half year, July #. Disposals of GBP### million, producing GBP###... 3/18/2008 4:05:00 PMDerwent London plc54.0000FinalPreliminary 2007 Derwent London plc Earnings Presentation TranscriptDWV.L9:30am UKTTranscriptT1796835Credit & Investment ResearchThomson StreetEvents