Aspen Group Ltd. is the Group's parent company. The Group specializes in income-yielding real estate in Israel, Germany, Switzerland and Holland, develops residential and vacation properties and builds solar energy systems. 

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Line of Business:
Income-yielding real estate in Israel and abroad – building, acquiring, leasing, selling and managing; development of vacation and residential properties.
 
Established 1978
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The Group comprises the following subsidiaries, among others:
Aspen Real Estate Ltd. – specializes in industrial buildings and logistics centers in Israel and income-yielding investments in Europe
Aspen Properties (1990) Ltd. – engaged in acquiring, developing, building, selling, leasing and managing commercial properties and/or shopping malls.
 
Aspen Group Ltd. is traded on the Tel Aviv Stock Exchange (TASE). Aspen Real Estate was also listed publicly in TASE until May 2009, when a purchase offer was completed and it became a privately held company.
 
Facts & Figures – Successes and Achievements
•  The Group holds a total of approximately 300,000 square meters of high income-yielding assets in Israel and abroad.
•  Assets are leased to more than 300 tenants in Israel and Europe at 90% occupancy rates.
•  During the last three years Aspen has grown by more than 100%
•  Management and leasing income have increased from NIS 43.9 million in 2007 to NIS 88.9 million in 2010.
•  The Group's total revenue for 2010 amounted to NIS 100 million.
•  The Group's balance sheet statement for 2010 showed a balance of NIS 1.4 billion.
•  The group's equity capital totals NIS 303 million.
 
Expansion since 2010– From 2010 until the second quarter of 2011 Aspen purchased income yielding assets totaling NIS 366 million.
Germany: Hamburg (space: 11,500 sq.m, cost: NIS 18 million), NIESTETAL (space: 2,140 sq.m, cost: NIS 14.5 million), KIRSCHBERG (space: 3,968 sq.m, cost: NIS 24 million), Bruhl (space: 7,750 sq.m, cost: NIS 68 million), Frankfurt (Space: 2,400 sq.m, cost: NIS 21 million).
Switzerland: Biel (space 9,300 sq.m, cost: NIS 88 million).
Holland: Zwolle (space: 26,636 sq.m, cost: NIS 90 million).
Israel: Petah Tikvah (space: 3,950 sq.m, cost: NIS 16 million), Nazareth – Har Yona (space: 8,023, cost: NIS 26 million) 
 
Control and Management – The Group's controlling shareholder businessman Rony Zarom holds a 48.8% stake in the Aspen Group Ltd. parent company directly and via Zarom Holding Limited. Remaining company shares are held by various institutional parties, such as the Bereshit Fund, Challenge Partners Fund, D.S. Apex Holdings, Menorah Mivtachim, Excellence Investments and the public. The Group's CEO Ilan Gifman, leads a professional management team and selected human capital. 
 
Success Strategy – Aspen's success in Israel and Europe are the result of a consistent strategy, the highlights of which are:
•  Activities in strong and stable countries
•  Broad geographic acquisition of high yielding properties
•  Long term, broad sector leasing of business oriented assets from highly reputable leasers
•  Creation of new growth engines in the energy and solar industries in Israel and abroad 
 
Financial Strategy – Aspen's financial management is based on achieving high yields while adhering to principles of responsibility and business acumen, maintaining the company's NIS 130 million liquidity and NIS 300 million equity (as of 31.12.2010), knowledge of the funding parties prior to acquisition and promise of free cash flow following payment of principal and interest. Aspen strives to include investors in its dividend distribution policy.
 
Renewed Energy– Aspen is in the process of building 40 solar facilities in Israel (which will be added to the three operational facilities) and is in the final phase of building a medium sized solar facility in Italy with an output of 1 megawatt. Aspen's total investment in Photovoltaic solar energy totals NIS 50 million with an annual potential income of NIS 8.5 million (from overall production of 3 megawatt).
Midroog Ltd. (A Subsidiary of MOODY'S) has reaffirmed the A3 rating of the company's debentures, confirming a stable outlook.
 
ATTORNEYS Shimonov, Rozenbuch & Co; Goldman, Erlich, Gaver, Edelstein & Co.  |  ACCOUNTANTS BDO Ziv Haft
ADDRESS 20 Lincoln St., Tel Aviv 67134  |  TEL 972-3-5652222  |  FAX 972-3-5652225  |  E-MAIL info@aspen.co.il  |  WEBSITE www.aspen.co.il