Warimpex Finanz- und Beteiligungs AG

euro adhoc: Warimpex Finanz- und Beteiligungs AG
Warimpex sells Dvorák Spa Hotel in Karlovy Vary

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. Hotel company sold to Raiffeisen-Leasing . Warimpex will lease the property from 2009 and will continue to operate it

Warimpex Finanz- und Beteiligungs AG has sold its shares in the project  company that owns the Dvorák  Spa  Hotel  in  the  Czech   city  of  Karlovy  Vary  to  a subsidiary of Raiffeisen-Leasing. The Dvorák  Spa  Hotel,  which  Warimpex  will lease from 2009 and continue to operate  following  the  sale,  is  one  of  the company's best booked hotels and has enjoyed an average occupancy   rate  of  85% over the last few years. The  hotel  will  continue  to be  managed  by  Vienna International Hotelmanagement AG in the future.

The selling price was just under 7% less than the fair value determined  by  the international real estate assessor CB Richard Ellis  (CBRE)  in  June  2008.  In addition, the transaction  amount is  roughly  twice  the  book  value  of  the property because Warimpex values its hotel  properties  at  adjusted  historical costs. The effect of this transaction on  the  company's  earnings   position  as reported in the  IFRS  consolidated  financial   statements  is  currently  being assessed.

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ots Originaltext: Warimpex Finanz- und Beteiligungs AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Warimpex Finanz- und Beteiligungs AG
Phone: +43 1 310 55 00
Christoph Salzer
Daniel Folian, mailto:investor.relations@warimpex.com

Branche: Real Estate
ISIN:      AT0000827209
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

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