Meinl European Land Limited

euro adhoc: Meinl European Land Ltd.
Strategic management decisions
Meinl European Land Limited - Statement of the Board

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc. The issuer is responsible   for the content of this announcement. --------------------------------------------------------------------------------@@end@@

Company Information


Jersey, 24 September 2007. The Board of Meinl European Land today has mandated Merrill Lynch International Bank Limited to act as its investment bank and advisor.

MEL, in collaboration with Merrill Lynch, is examining and evaluating comprehensive measures aimed at a change of the existing corporate structure, strategic re-orientation and an improvement of capital market standards. The results of these efforts will be communicated expeditiously. Fundamental changes will be submitted to the AGM for approval, should the need arise.

Examining all the proposed measures and putting them into practice will take a few months, and will pay particular attention to corporate facts, tax legislation and existing contractual obligations. The overarching goal is to promote MEL´s long-term positive development as leading property company in Central and Eastern Europe

The measures include, inter alia:

@@start.t2@@•          Changes of the entire corporate structure
•          Evaluating the advantages and disadvantages of an internal and external
management and its associated fee structure
•          Strengthening of the operative management and the Board
•          Ensuring compliance with the Austrian Corporate Governance Code and,
emanating from this, the voluntary application of the principles underlying
Austrian company law
•          Evaluating the instrument of partly paid shares
•          Evaluating dividend payments
•          Sounding out strategic options and partnerships@@end@@

MEL supports the ongoing investigation conducted by the Austrian Financial Market Authority (FMA) and is keenly interested in co-operating closely with it with a view to clarifying any open issues. MEL has always fully complied with all applicable laws and regulations and is therefore confident that this will be confirmed in the course of the investigation as well.

The Board of Meinl European Land will do the utmost to increase the company value and to boost our investors´ confidence.

The Board of Directors

@@start.t3@@end of announcement                                                 euro adhoc 24.09.2007 12:51:33

ots Originaltext: Meinl European Land Limited
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Further inquiry note:
Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Börsen:  Wiener Börse AG / official market

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