Bunnik, The Netherlands, 22 December 2011 – Royal BAM Group has sold its 21.5% interest in dredging company Van Oord, with effect from today, to a consortium formed by the Belgian investment company Cobepa and the Dutch investment companies Janivo, Breedinvest and Rinkelberg. The purchase price is €200 million. As a consequence of guarantees in the sale agreement, BAM is taking a provision in the year ending 31 December 2011 to cover the maximum risk of €15 million. The provision relates to future dividends payable by Van Oord over the next five years. Net of this provision, the transaction has no material impact on BAM’s previously announced forecast that the Group will make a net profit of €120 million for the financial year 2011.