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

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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
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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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