Westfield response to RNA share issue

24 September 2001

Countries: United States

Westfield Holdings said today the decision by Rodamco NorthAmerica management to issue new shares to a Trust was a brazenattempt to entrench management to the detriment of allshareholders.

Westfield is considering all possible options in response toRNA’s share issue, including legal action.

However, Westfield is well-funded and intends to be a long-terminvestor in RNA and will not be deterred by today’s action.