MEINL EUROPEAN LAND announces results of Extraordinary General Meeting

St Helier, Jersey (OTS) - Meinl European Land Limited ("MEL" or
the "Company") announces that each of the resolutions contained in
the Notice of Extraordinary General Meeting dated 24 June 2008 were
passed at the Company's Extraordinary General Meeting ("EGM") held in
Jersey today, 16 July 2008. None of the 88,815,000 certificates held
on behalf of the Company by Somal A.V.V. were voted on any of the
resolutions and none of the 150,000,000 ordinary shares paid up as to
Euro0.01 each (the "Partly Paid Shares") that are registered in the
name of Tshela Nominees A.V.V. were voted on any of the resolutions.

Approval of the resolutions proposed at the EGM was the last
remaining significant condition to closing of the investment in the
Company by CPI/Gazit Holdings Limited ("CPI/Gazit"), a joint venture
between Gazit-Globe Ltd ("Gazit"), a multinational real estate
investment company listed on the Tel Aviv Stock Exchange (TASE:GLOB),
and CPI Austria Holdings Limited ("CPI Austria"), a wholly-owned
subsidiary of CPI Capital Partners Europe LP (and its parallel
funds), a real estate fund advised by Citibank International plc
through its business unit, Citi Property Investors.

Accordingly, now that this condition has been satisfied, the
parties intend that closing of the investment should take place by
month-end. Upon closing of the investment, the Company’s name will
be changed to Atrium European Real Estate and an internal management
structure will be adopted with a new management team.

Georg Kucian, chairman of MEL, said: "This is an important step
in the development of Meinl European Land. We have worked hard to
bring this about and I am pleased that MEL can now look forward to
closing of the Citi/Gazit investment and a bright future as a leading
property development company in Central and Eastern Europe."

Rachel Lavine, Proposed CEO of Atrium, said: "We are delighted
that our plans for the company have been endorsed by investors. We
look forward now to implementing those plans to the benefit of all of
the company’s stakeholders."

Notes to editors:

About Meinl European Land

MEL is a real estate investment and development company whose
primary focus is on retail assets in Central and Eastern Europe. At
31 December 2007 it had 162 operating investment properties with a
market value of approximately Euro1.9 billion and a significant
portfolio of development projects with an expected investment
requirement of Euro3.3 billion, of which Euro0.8 billion had been
spent by 31 December 2007. In addition, it has established a land
bank of over 1.8 million sqm. The Company has been listed on the
Vienna Stock Exchange since 2002 and at 8 July 2008 was capitalised
at Euro1,383,261,750 (based on a closing price per certificate of
Euro6.55 and a number of certificates of 211,185,000 which excludes
the 88,815,000 certificates held on behalf of the Company, the
150,000,000 ordinary shares paid up as to Euro0.01 each and the one
share held by the investment manager of the Company).

About Gazit-Globe Ltd

Gazit is a leading multinational real estate investment company
with in excess of Euro8 billion of properties under control in the
United States, Canada, Europe, Israel and Brazil. Gazit and its
public subsidiaries are corporate governance leaders in their markets
and are governed by world class boards of directors. Gazit actively
pursues growth opportunities, both organically and through strategic
and accretive acquisitions.

About Citi Property Investors

CPI is a global real estate investment manager with offices in
major financial centers and with more than $12.9 billion in assets
under management as of 1 February 2008. CPI employs more than 125
real estate professionals and its senior leaders have an average of
more than 20 years of commercial real estate experience. CPI is the
real estate investment center of Citi Alternative Investments which
as of 31 December 2007 had Euro59.2 billion of un-levered assets
under management.

Rückfragehinweis:
Contacts for enquiries:
London Austria
Citigate Dewe Rogerson Trimedia
Michael Berkeley Bernhard Hudik
Sally Marshak
Mobile:+43 676 842 44381
Tel.:+44 20 7638 9571 Tel.:+43 1 5244 300

For questions pertaining to Citi/Gazit:

London Austria
Financial Dynamics Dr. Viktor Bauer PR GmbH
Stephanie Highett Dr Viktor Bauer
Richard Sunderland Mag. Anita Köninger
Laurence Jones mailto:[email protected]
Tel.: +44 (0)20 7831 3113 Tel.:+43 (1) 320 95 45 18

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