Escrow Update (5046X)

TIDMNLD

RNS Number : 5046X

Nordic Land PLC

16 February 2012

Nordic Land plc (in Liquidation): expiry of deadline for claims against Borlange escrow monies

Nordic Land plc (in Liquidation) ("Nordic Land" or the "Company" and together with its subsidiaries, the "Group") announces that, in relation to the amount of SEK 2.5 million (GBP0.2 million) held in escrow (the "Escrow Amount") to cover potential warranty claims following the disposal of Lackeraren 3 in Borlange ("Borlange"), the deadline for the buyer of Borlange to claim against the Escrow Amount has now expired and no such claims have been notified to or received by the Group.

As notified previously, the Escrow Amount remains subject to a charge in favour of the purchaser of the Group's former property in Sicklaon ("Sickla"), and will not be released to the Group until replacement mortgage certificates for Sickla are issued to that purchaser, expected to occur by 31 March 2012.

For further information please contact:

Nordic Land plc

Ray Horney [phone]

SP Angel Corporate Finance LLP

Robert Wooldridge [phone]

Matrix Corporate Capital LLP

Stephen Mischler [phone]

Bankside Consultants

Simon Rothschild [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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