Westfield Statement – World Trade Center
Wednesday, 12 September 2001
Westfield Holdings said today the company was shocked at events in the United States overnight.
Since the attack on the World Trade Center the primary focus of the company has been the well-being of the 10 staff working in the building.
At this stage, one New York-based executive is yet to be accounted for.
All other Westfield staff have been confirmed as safe and unharmed.
The thoughts of all at Westfield are with their missing colleague and his family, and with the many thousands of victims and their families who have been affected by these events.
The company is continuing to monitor developments and will be working closely with authorities to gather as much information as possible as the situation is brought under control.
Westfield America Trust’s investment in the retail component of the World Trade Center is fully insured for both capital and loss of income. The insurance cover includes acts of terrorism.
The loss of the World Trade Center is not expected to have a material impact on the distribution of Westfield America Trust.
It is also expected that Westfield Holdings’ earnings will not be materially affected.
In July 2001 Westfield America
executed an agreement with the Port Authority of New York
and New Jersey to lease the retail component of the twin
towers for 99 years. Westfield Holdings was responsible for
the management, leasing and development of the retail
component of the Center.