Consolidated Income Statement for the three month period ended 30 June 2008

Year ended
31 March 2008
Audited		   Three months ended
30 June 2008
Unaudited		 Three months ended
30 June 2007
Unaudited
Underlying
pre tax*
£m 		Capital
and other
£m		 Total
£m		 Note Underlying
pre tax*
£m 		Capital
and other
£m 		Total
£m 		Underlying
pre tax*
£m 		Capital
and other
£m		 Total
£m
645   645 Gross rental and related income 2 146   146 160   160
561   561 Net rental and related income 2 127   127 141   141
40 30 70 Fees and other income 2 5   5 22 30 52
  (15) (15) Amortisation of intangible assets     (4) (4)   (4) (4)
40 (346) (306) Funds and joint ventures (see also below)   14 (118) (104) 9 19 28
(67)   (67) Administrative expenses   (15)   (15) (20)   (20)
  (1,562) (1,562) Net valuation movement (includes profits and losses on disposals) 2   (524) (524)   145 145
      Net financing costs              
26   26 - financing income   2   2 6   6
(316)   (316) - financing charges   (59)   (59) (82)   (82)
(290)   (290)     (57)   (57) (76)   (76)
284 (1,893) (1,609) (Loss) profit on ordinary activities before taxation   74 (646) (572) 76 190 266
      Taxation              
      - current tax expense       (1)     (1)
    46 - deferred tax income       8     10
    46   2     7     9
    (1,563) (Loss) profit for the period after taxation attributable to shareholders of the Company       (565)     275
    (305) p (Loss) earnings per share: basic 1     (111) p     53 p
    (303) p diluted 1     (111) p     53 p
                     
      Share of results of funds and joint ventures              
40   40 Underlying profit before taxation   14   14 9   9
  (354) (354) Net valuation movement (includes profits and losses on disposals)     (127) (127)   13 13
  (3) (3) Goodwill impairment           (2) (2)
  9 9 Non-recurring items           9 9
  1 1 Current tax     6 6   (1) (1)
  1 1 Deferred tax     3 3      
40 (346) (306)   4 14 (118) (104) 9 19 28

* As defined in note 1