Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Mergers - Acquisitions - Takeovers
Meinl European Land┬ĺs ongoing growth Hungarian Portfolio extended by 2 shopping centres Total portfolio value reaches 670 million Euro

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30 million Euro invested in new projects - Anchor tenants Spar & Metro group

Meinl European Land, the property group focused on retail real estate in Central and Eastern Europe, has deepened its presence in Hungary. Yesterday contracts were signed for two shopping centres, in Budapest and Szombathely, with a total lettable area of 27,000 sqm and total investment value of 30 million Euro. Both centres are occupied on long-term leases by international retail companies, including Spar and Metro. Metro is a tenant with outlets of its electronic and do-it-yourself chains, Mediamarkt and Praktiker. Following these acquisitions the value of the Hungarian portfolio exceeds 100 million Euro.

Portfolio value up by 30% so far this year; solid project pipeline

Meinl European Land┬ĺs portfolio today comprises 170 properties with a total area of more than 700,000sqm and a total market value of approximately 670 million Euro, located in 6 Eastern European countries. Tenants are well-known international retail companies who occupy the properties on long-term leases that currently generate aggregate annual rental income of 63 million Euro. Since the beginning of the year, Meinl European Land has enlarged its portfolio by more than 30%; by the end of the year the portfolio is expected to more than double in value. Retail properties with a total value of 400 million Euro are currently under due diligence.

Positive share price performance sees market capitalisation above 1.3 billion Euro

As well as the dynamic expansion seen in the operations, the share price has also continued its positive development. Yesterday┬ĺs closing share price, 13.75 Euro, represents a gain of approximately 6% since the beginning of the year. Following the capital increase in March 2005, there are 96 million shares listed on the Vienna Stock exchange with a market capitalisation today of over 1.3 billion Euro.

end of announcement                                euro adhoc 22.04.2005 11:12:33

Further inquiry note: Pleon Publico Public Relations & Lobbying Mag. Claudia M├╝ller-Stralz Tel.: ++43 (0) 1/717 86 107

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Auction
B├Ârsen:  Wiener B├Ârse AG / official dealing

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