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Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Company Information
Meinl European Land Limited ongoing growth Second Shopping Centre acquired in the Slovak Republic Total portfolio value reaches 430 Mio. Euro

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Vienna, 1st December 2004
Meinl European Land, the Stock Exchange listed real estate holding
company with a focus on Eastern Europe, continues to expand and
acquires its second large property in Slovakia within one month.
After this acquisition, the total portfolio value amounts to 430 Mio.
Euro.
32 Mio. Euro Shopping Centre in Slovakia - Ahold anchor tenant
On Monday the company has signed the contract for a shopping centre
in Kosice in Slovakia. The total investment for the project, which
generates a yield of 10.5% per year, is 32 Mio. Euro.The centre has a
total area of 32,000m²,  1/3 is of the area is long-term leased to
the Dutch Ahold group. In addition to the large Ahold "Hypernova"
market, the centre comprises a mall with around 30 international and
local tenants. The project also comprises an expansion area of
59,000m², which will be used to develop further retail space over the
next years.
Portfolio value in 2004 nearly doubled
During the current year Meinl European Land has already acquired 20
new properties in 6 Eastern European countries with a total letable
area of 180,000m². Today the portfolio includes 150 retail properties
with a total letable area of nearly 520,000m². The current total
market value of the portfolio is 430 Mio. Euro, nearly twice the
value at the beginning of the year. Annual rental income has
increased by more than 20 mio. Euro, up to 38 Mio. Euro in the same
period.
Revenues und EBITDA 150% above previous year
Revenues show a similar positive development: With more than 20 Mio.
Euro of income in the first 9 months of 2004 revenues are nearly two
times total revenues in 2003. Compared with the 9 months period in
2003, revenues even increased by a 150%. By year-end, the company
expects total revenues of nearly 30 Mio. Euro, based on the current
existing portfolio. Other key-data show a similar positive
development: EBITDA, at 14 Mio. Euro, as well as EBIT, at 9 Mio. Euro
are more than 150% above the comparison period 2003.
Shareholder’s meeting resolves increase of authorised capital
By a special resolution of shareholders’ the company resolved last
Friday the increase of authorised capital of the company from 200
mio. Euro to 500 mio. Euro. However, no issue of additional shares is
planned for this year.
end of announcement                    euro adhoc 01.12.2004 08:56:09 

Further inquiry note:

ECC Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@ecc-publico.com

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Auction
Börsen: Wiener Börse AG / official dealing

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