euro adhoc: Meinl European Land Limited / Financing, Stock Offerings / Meinl European Land Limited pushes Expansion

Acquisition of two additional hypermarkets in the Czech Republic Portfolio with today 142 properties with a total area of 400.000 sqm Further capital increase planned for this quarter (E)=

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Vienna, 19th May 2004, Meinl European Land, the Vienna Stock Exchange listed real estate investment company with a focus on the property markets in Central and Eastern Europe, pushes its expansion and acquires two additional properties in the Czech Republic. With today, Meinl European Land owns 142 properties with a total area of around 400.000 sqm.

Additional acquisition in the Czech Republic

The successful real estate investment company Meinl European Lands announce the closing of contracts of two additional hypermarkets in the Czech Republic for a total investment value of 31 million Euro. These acquisitions follow the acquisition of two smaller properties longterm leased by the dutch retail group AHOLD earlier in May, will generate a yearly yield of 10.13% and 10.50%. The both hypermarkets, which are longterm leased by the Spar group will increase Meinl European Land’s rental income by around 3 million Euro per year.

Meinl European Land’s property value in 2004 increased by 25%

In 2004 the company has already acquired 10 new properties in the Czech Republic and in Hungary which have a total area of nearly 60.000 sqm. With today Meinl European Land owns 142 retail properties with a total rentable area of 398.000 sqm. Companies’ portfolio has a total value of more than 270 million Euro, 25% more than in the end of 2003, while the rental income per year has been increased up to 25 million Euro.

Further capital increase planned

Additional properties with a total value of nearly 200 million Euro are under a due dilligence process. Following Meinl European Land plans to exercise a further capital increase within this quarter to continue the dynamic expansion. This expansion will not only contain further properties in the Czech Republic and Hungary, the company also plans the expansion to other Eastern European countries such as Poland, Romania or the European part of Russia.

Further inquiry note:
ECC Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107

Emittent: Meinl European Land Limited 47. The Esplanade UK-JE1OBD St. Helier WWW: ISIN: AT0000660659

end of announcement euro adhoc

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