Brussels, August 31, 2011 – RHJ International (“RHJI” or the “Company”) today issued its condensed consolidated interim financial statements for the six months ended June 30, 2011.
Highlights
Legacy portfolio • Sale of ownership in Niles Co. Ltd. (“Niles”) to Valeo for a total cash consideration of JPY 15.4 billion (EUR 135 million).
• Improving trading outlook for Asahi Tec Corporation’s (“Asahi Tec”) second half year based on recovery of production at major customers after the Great Eastern Japan Earthquake.
• Settlement of various loans advanced to Honsel for an aggregate of EUR 20.5 million following the completion of the sale of Honsel’s business on August 1, 2011, resulting in a loss of EUR 14.7 million.

Financial services
• Steady progress in improving Kleinwort Benson’s operations in a continuously
challenging market environment.
• Acquisition of Close Offshore Group (“COG”) for a total cash consideration of GBP 26.7 million, adding further scale and strength to Kleinwort Benson’s banking and fiduciary businesses.
• Negotiations to acquire BHF-Bank, one of Germany’s strong banking brands with a long tradition in Private Banking, Asset Management, Financial Markets and Corporate Banking. This transaction is subject to regulatory approval. Kleinwort Benson Group plans to finance the acquisition with its own funds and with the support of co-investors.

Current Trading and Outlook
The Company’s transformation from an industrial holding group into a dynamic financial services group continued with the sale of Niles and the planned acquisition of BHF-Bank. Kleinwort Benson increased its footprint in the offshore financial services market with the addition of Close Offshore Group. Kleinwort Benson also continued to reduce its cost base, leaving room for developing new revenue lines and growing Assets under Management, whilst steadily improving profitability over time.
The Company’s remaining industrial assets suffered from declining sales in the aftermath of the Great Eastern Japan Earthquake. Asahi Tec however, increased its financial forecasts as the automotive industry in Japan seems to recover more quickly than expected. Phoenix Seagaia Resort was not directly affected by the earthquake, but saw its occupancy decrease and will likely continue to face a challenging and uncertain economic environment. Phoenix Seagaia Resort was not in compliance with the financial covenants under its senior credit facility, which requires refinancing in September. The failure to refinance its senior debt could cast significant doubt on Phoenix Seagaia Resort’s ability to operate as a going concern. The investment in Phoenix Seagaia Resort was already written-off at December 31, 2010.