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Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Restructuring & Recapitalisations
Meinl European Land Limited issues 42 million new shares Third largest Capital Increase in the last years at the Vienna Stock Exchange Proceeds of 560 million Euro shall enable

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
25.02.2005
Meinl European Land, the Vienna Stock Exchange listed real estate
investment company with a focus on the property markets in Central
and Eastern Europe, effects an additional capital increase by 210
million Euro nominal value. Proceeds shall enlarge the market
position in these countries, that Meinl European Land has new entered
in 2004.
Issued share capital now EUR 480 Mio. nominal value
Meinl European Land effects by 3rd March 2005 the  second capital
increase within 2005 and increases the issued share capital from 270
million Euro up to 480 million Euro nominal value. Between the 3rd
and 18th March 2005 the company offers in total 42 Mio. new shares at
a subscription price of 13.65 Euro. The deal with subscription rights
will be on 10th, 11th and 14th March 2005. After the capital hike 96
million shares will be listed at the Vienna Stock Exchange. At the
current market price the market capitalisation will exceed 1.3
billion Euro.
Proceeds shall be used for financing additional projects in new
markets
The 560 million Euro new capital from the capital increase will push
Meinl European Land’s expansion and proceeds will - as until now - be
re-invested in long-term leased retail real estates. The main focus
is set on the enlargement of activities in the new markets Poland,
Russia, Romania and Slovakia, where currently projects at a total
value of 200 million Euro are under due diligence, such as a 70
million Euro shopping centre in Russia with a total area of more than
50,000sqm. Further attractive properties are in the pipeline in the
Czech Republic and Hungary, where the company is established since
several years.
Property value reaches 520 million Euro
After the successful acquisitions in January 2005 - Meinl European
Land has acquired 9 retail properties with a total investment value
of 150 million Euro in the Czech Republic and Poland, including the
first development project of the company - the portfolio comprises
already 159 retail real estates with a total area of 600,000sqm and a
total market value of 520 million Euro.
end of announcement                    euro adhoc 25.02.2005 07:41:53 

Further inquiry note:

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

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

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