euro adhoc: Meinl European Land Limited / Annual & Special Corporate Meetings / Meinl European Land Limited - Invitation to 2nd Annual General Meeting

Significant increase of turnover and operating profit
Property portfolio and value doubled (E)=

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Meinl European Land, the Vienna Stock Exchange listed real estate
investment company with a focus on the property markets in Central
and Eastern Europe, ended 2003 with excellent operational results.
All key figures show a significant increase as the property portfolio
doubled.

Significant increase of sales revenues and operating profit

Revenues increased by 50% in the reporting period and operating
profit by 40%. This strong growth is a direct result of the massive
expansion during the last 12 months. On an adjusted basis, the rental
income from the properties in the ownership of the company at
year-end 2003 for a full 12 month period has risen by more than 11
million Euro up to 18 million Euro.

Property portfolio and value doubled

The composition of the portfolio as well as property value mirror the
dynamic expansion. As of today Meinl European Land owns almost 140
properties with a total book value of nearly 200 million Euro in
Hungary and the Czech Republic; the total value as well as the number
of properties increased by 100% against 2002.

Annual General Meeting on 3rd June 2004

The financial statements for 2003 will be presented on the
forthcoming Annual General Meeting on 3rd June 2004 at 11.00 a.m. in
the Radisson SAS Palais Hotel (Parkring 16, 1010 Wien). On the agenda
of the AGM is also a resolution with respect to the increase of the
authorized share capital. If approved, this will give the company the
means for its continued expansion - in the last 12 months alone,
Meinl European Land has invested more than 130 million Euro for the
acquisition of additional properties with a high market potential.

Further inquiry note:
ECC Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@ecc-publico.com

end of announcement        euro adhoc 14.05.2004
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Emittent: Meinl European Land Limited
          47. The Esplanade
          UK-JE1OBD St. Helier
WWW:      http://www.meinleuropeanland.com
ISIN:     AT0000660659

WKN:
Indizes: Standard Market Auction
Börsen: official dealing Wiener Börse AG
Branche: Real Estate
Sprache: Englisch

OTS0031    2004-05-14/09:17

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