Meinl Airports International: Initial stake of 24.9% in the airport of Bydgoszcz Increase to up to 49% depending on consent of Polish Civil Aviation Office

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St, Helier Jersey (euro adhoc) - 10 March 2008 - Meinl Airports International
Ltd. ("MAI") has signed contracts for a participation in the Polish airport of
Bydgoszcz. In a first step, MAI will get a stake of 24.9% in the airport. A
further increase of the participation to up to 49% is intended, but subject to
the consent by the Polish Civil Aviation Office. The participation(s) are being
conducted in form of a capital increase by the airport operating company "Port
Lotniczy Bydgoszcz S.A.".

MAI will invest a total of EUR 23.5 million in the development of Bydgoszcz
airport. Following the airport project in Sochaczew, Bydgoszcz airport is
already MAI´s second airport transaction in Poland. Bydgoszcz is also the first
operating international airport in Poland, which forms such a Public Private
Partnership with an international investor. The airport has significant growth
potential, in particular due to the market potential of the Region, both
outgoing and incoming - based on local population, tourist potential and
businesses existing in the region. This is also underlined through already
existing and further increasing interest of airlines, notably some low cost
airlines. Ryanair, which is operating flights into Bydgoszcz Airport since 2006,
has recently announced new destinations and increased frequencies from and to
Bydgoszcz. Furthermore, Polish Jet Air has recently started new operations as
well. For 2008, MAI expects that the airport will handle already approx. 300,000
passengers - and further MAI intends to work with local partners to increase the
traffic by double digit growth rates annually for the foreseeable future.

Participation of up to 49% in Bydgoszcz airport - expected IRR exceeds 15%

MAI will invest EUR 23.5 million in the development of the aviation and
non-aviation infrastructure of the airport in Bydgoszcz. As a part to this, MAI
will receive in a first step 24.9% of the shares in the airport through a share
capital increase. Following this first transaction, MAI will apply for approval
from the President of the Civil Aviation Office (CAO) of its intend to take up
shares exceeding the thresholds posted by Polish Law of 25% and later 33% of
ownership in the share capital of airports. After eventually having received the
consent of CAO, MAI will in consent with existing shareholders through another
capital increase at given time extend its stake to a total of 49%, which is the
legal limit for airport participation by a foreign company according to Polish
law. In its details related to the CAO approval, the development of the
non-aviation business will be realised through a separate project company, in
which MAI will become majority shareholder.

Partners and co-owners of MAI, following the transaction(s), are the City of
Bydgoszcz, the Region of Kujawy-Pomerania, state enterprise Polish Airport
Operator (PPL), the Cities of Torun and Inowroclaw and as well several other
public and private Polish shareholders with smaller stakes. All stakeholders are
important partners to realise the intended developments and a basis of common
interest is formed to enable prospering of the airport in future. This provides
comfort in ensuring successful growth of the airport. Roman Himmler explains:
"Bydgoszcz Airport serves an attractive local community and area with high
potential. The airport is a prerequisite for further successful development. In
the discussions and negotiations during the last months, we have seen same
intents and goals by our partners to make use of the airport´s market backbone
to form an excellent basis for mutual benefit. MAI can and will assist in
achieving the common goals of development of the airport and - hence - the
Region and its cities."

The expected IRR for the participation will exceed 15%, based on the realisation
of the potentials.

Development of airport infrastructure could be supported by EU funding

The funds, which are being brought to the airport company through MAI´s
participation will be used mainly to finance the intended development and
extension of the airport infrastructure parallel to the increasing demand and
the forecasted passenger growth. The development should be carried out in
several phases over the next years. Furthermore, there exists the potential that
funds originating from European Union can be received.

The investments in the optimisation of the airport infrastructure and airport
extension includes plans for the extension and capacity upgrade of the runway
and the development of a new cargo terminal beside other investments like
development of an airport car park. A long-term strategic plan also includes
facilitating of airport surrounding area. Additionally, new restaurants are
planned and a viewing terrace is going to be used more efficiently.

Tourist region with 2.1 million inhabitants - only civil airport in a range of
110km

The airport of Bydgoszcz is the only commercial international airport in a
radius of 110km. The airport is located only 3km from the city centre of
Bydgoszcz, which is the capital of the Kujawy-Pomerania Region and one of the
fastest developing cities in Poland with at the moment approximately 400,000
inhabitants. The whole region of Kujawy-Pomerania has approximately 2.1 million
inhabitants.

The airport is not only important due to increasing business travel and outgoing
leisure travel. The region of Kujawy-Pomerania is also one of the main tourist
regions in Poland. Torun, a city 50km from Bydgoszcz is the home town of
Copernicus and is famous for having preserved almost intact its medieval spatial
layout. It was inscribed onto the World Heritage List of UNESCO in 1997.
Historic architecture can be also found in Bydgoszcz itself and in other cities
in the region: Bydgoszcz, the former German Bromberg, has a famous old town with
Gothic buildings.

Bydgoszcz hosts NATO Training Centre

The airport of Bydgoszcz is not only a fast growing airport for civil air
transport. Bydgoszcz also hosts in its vicinity the NATO Joint Forces Training
Centre, which is a further important element of the airport´s current and future
development: The airport does not only generate revenues from the traffic from
the training centre itself but also benefits from the intended increase of
traffic to and from the training centre in possible air-route developments.
Furthermore the participants of such trainings are an important source for the
airport to boost the non-aviation business at and around the airport.

MAI expects the airport of Bydgoszcz to handle approx. 300,000 passengers in
2008

Poland´s current airport network consist of one central airport in Warsaw, one
regional central airport in Krakow and 10 regional airports which have the
status of an international airport. Among these regional airports, Bydgoszcz is
until now the 8th largest in terms of passenger traffic. The airport terminal
has been newly built in 2004 and the technical infrastructure is one of the most
modern ones in the country.

Currently, Bydgoszcz airport is being served by the Polish LOT (Bydgoszcz -
Warsaw, 3 flights per day), Ryanair and Jet Air. Ryanair has started operations
in Bydgoszcz in 2006 and currently is handling flights to London, Dublin and
Liverpool. Ryanair also announced to fly from Bydgoszcz to Düsseldorf Weeze. The
airline expects that it will handle approximately 60,000 passengers per year
only on this route. The Polish airline Jet Air, which is at the moment flying
certain routes from Bydgoszcz to Warsaw on behalf of LOT, has started new
operations at Bydgoszcz in January 2008, serving flights to Katowice, Copenhagen
and Berlin.

Passenger figures have increased with rates of +50% and more over the last
years: In 2004, the airport had only 25.000 passengers; in 2007 approximately
200,000 passengers have been handled already. MAI expects that the passenger
volume in Bydgoszcz will continue to increase strongly over the coming years.
Roman Himmler explains: "Given the increasing interest from international low
cost airlines and taking into account the general growth in the Polish air
travel - which is with respect to the growth rates comparable with China - we
could imagine that by 2008, we will already handle 300,000 passengers. On the
longer-term, a volume of more than 1 million passengers has been forecasted."

Notes to the Editor:

MAI is a long term investor in airports, parts of airports or airport related
businesses in particular - but not limited to - in the growth markets in Central
and Eastern Europe, South Eastern Europe and Russia. The Company was founded in
2006 and since April 2007 is listed on the Vienna Stock Exchange.

MAI has been successful in acquiring already six assets and today MAI is an
active investor and a player to be reckoned with in airports with more than 30
million annual passengers and that number is growing. In Poland and Russia, MAI
has been the first foreign investor, which has been able to acquire a stake in
an international airport. Among others the Company´s current portfolio consists
of investments in "Lake Baikal Airport", Ulan Ude (Russia), TAV Airports
(Turkey), Airport Development Sochaczew (Poland) and Bydgoszcz Airport (Poland).

Furthermore, MAI is evaluating more than 50 projects, most of which are located
in the Company´s main target region: Central, Eastern and South Eastern Europe
including the CIS countries.

Further inquiry note:
Nadine Gilles
Member of the Board / Meinl Airport Managers Ltd.
[email protected]
+421 911 500 730

end of announcement euro adhoc
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emitter: Meinl Airports International Ltd.
32 New Street
A-JE2 3RA St, Helier Jersey
phone: +43 676/ 840 531 202
mail: [email protected]
WWW: www.meinlairports.com
sector: Real Estate
ISIN: AT0000A053N4
indexes: other listings
stockmarkets: Third Market: Wiener Börse AG
language: English

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