BAM results under pressure from contracting Dutch markets

• Further deterioration in Dutch markets for Construction and M&E services and Civil engineering
• Operational sectors also impacted by negative margins on some large projects outside the Netherlands
• Appropriate management actions being taken
• Good result at PPP; mixed results at Property
• Within the limits of all banking covenants as at 30 June 2013
• Better result before tax and non-cash impairments expected in the second half year of 2013

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