-Caveat Lector-

Magazine Lists Europe Royal Riches

LONDON (AP) -- A magazine has ranked Britain's royal family as the
third-richest in Europe, but Buckingham Palace on Thursday said the
calculations were ``overblown.''

The article in the July issue of EuroBusiness puts the royals in tiny
Liechtenstein at the top of the rich list, with $5.2 billion, followed by
Luxembourg at $4.8 billion, then Britain at $4.2 billion.

The British figure includes the vast properties of the Crown Estate and the
Duchy of Cornwall.

``These simply cannot be counted as personal assets,'' a palace spokeswoman
said with customary anonymity. ``The royal family gains no personal benefit
from the Crown Estate whatsoever, and to include it in the calculation is
misleading.

``Also, although the Prince of Wales is entitled to revenues from the Duchy
of Cornwall, he cannot sell its assets.''

The calculations are ``overblown and speculative,'' she said.

The queen has said in the past that she regards much of the royal art
collection -- valued by the EuroBusiness at $1.5 billion -- as the property
of the nation.

It was not clear how researchers for the London-based magazine reached their
figures on private bank accounts and stock holdings.

Norway's royal family is listed as the poorest of Europe's 10 reigning
families, with cash and assets totaling $144 million, according to the
survey.

Queen Beatrix of the Netherlands is described as Europe's richest royal, with
$1.9 billion, followed by Grand Duke Jean of Luxembourg with $1.3 billion and
Prince Hans Adam II of Liechtenstein with $864 million.

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