PARKEN Sport & Entertainment
Rumours in the daily press

PARKEN Sport & Entertainment / 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Rumours in the daily press

Referring to the Stock Exchange rules on commenting unsubstantiated and false
rumours in the daily press, PARKEN Sport & Entertainment makes the following
statement on the basis of sensational articles in the Danish tabloids B.T. and
Ekstra Bladet. The statement is an elaboration on the published interim report
for the 3rd quarter, to which reference is made. 

PARKEN Sport & Entertainment has never had better underlying operations, with
strong cash flows from operating activities. Consequently, the Company revised
its expectations for the year upwards by 20%, to a profit of DKK 120 million
before tax and before adjustment of swap accrual. The profit before tax for the
first nine months of the year was more than 30% higher than in the
corresponding period of the previous year. 

The Company is implementing various investment programmes, and as at 30
September 2008, 205 out of the 761 holiday houses at Lalandia Billund had been
handed over. All 761 holiday houses have been sold, but during the construction
phase they are included in the financial statements as inventories, while the
current financing of the project is included as short-term debt. Since the end
of the 3rd quarter, a further 188 holiday houses have been handed over. The
remaining holiday houses will be handed over to the new owners on a current
basis until the beginning of 2010. The project is proceeding according to plan,
as are PARKEN's other construction projects, i.e. the new stand and new office
towers. The total increase in investments from 1 January 2008 to 30 September
2008 was DKK 712 million, of which DKK 611 million has been drawn on the
Company's credit lines. In the same period, the Group's equity rose by DKK 101
million. 

The Company has obtained the necessary financing commitments, but has chosen
not to make use of the long-term commitments as it expects interest rates to
fall in the near future. Short-term debt will be converted into long-term debt
over the next 12 months. 

The Company regrets the unserious press coverage in B.T. and Ekstra Bladet.

News Source: NASDAQ OMX

19.12.2008  Financial News transmitted by DGAP
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Language:     English
Issuer:       PARKEN Sport & Entertainment
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010237643
WKN:          
 
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