Westfield statement – World Trade Center
12 September 2001
Countries: United States
Westfield Holdings said today the company was shocked at eventsin the United States overnight.
Since the attack on the World Trade Center the primary focus ofthe company has been the well-being of the 10 staff working in thebuilding.
At this stage, one New York-based executive is yet to beaccounted for.
All other Westfield staff have been confirmed as safe andunharmed.
The thoughts of all at Westfield are with their missingcolleague and his family, and with the many thousands of victimsand their families who have been affected by these events.
The company is continuing to monitor developments and will beworking closely with authorities to gather as much information aspossible as the situation is brought under control.
Westfield America Trust’s investment in the retail component ofthe World Trade Center is fully insured for both capital and lossof income. The insurance cover includes acts of terrorism.
The loss of the World Trade Center is not expected to have amaterial impact on the distribution of Westfield America Trust.
It is also expected that Westfield Holdings’ earnings will notbe materially affected.
In July 2001 Westfield America executed an agreement with thePort Authority of New York and New Jersey to lease the retailcomponent of the twin towers for 99 years. Westfield Holdings wasresponsible for the management, leasing and development of theretail component of the Center.