New MIP Board Will Distribute Liquid Assets and Not Invest in New Projects

Jersey (OTS) - The new Board of Directors of Meinl International
Power (MIP), who were elected in November 2008 and are independent of
Meinl Bank, has completed its strategic evaluation process. The MIP
Board of Directors intends to quickly re-distribute all the cash and
cash equivalents at the disposal of the company to its shareholders.
Legal details of the proposed transaction are already in the process
of being clarified. Accordingly, a substantial amount will be payed
back to MIP shareholders in the following months.

The assessment of the existing investment portfolio, carried out
together with external consultants, also concluded that many of the
projects approved by the previous board are subject to considerable
financing risks. The new Board of Directors has decided to refrain
from making investments in new projects. In order to ensure the
preservation and enhancement of shareholder value, the company will
attempt to optimally realize the existing project portfolio. The MIP
Board of Directors has contracted Goldman Sachs for that.

Rückfragehinweis:
Mick Stempel
Hochegger Financials
Tel:+43 1 504 69 87 - 85
+43 664 32 11 886
mailto:m.stempel@hochegger.com

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